Sibanye-Stillwater Approves Major Copper, Gold Mine Projects
Mining News | 2026-09-02 11:05:26
Once fully operational, Mt Lyell is expected to produce up to 26,000 tonnes of copper, 16,000 ounces of gold and 116,000 ounces of silver annually over a projected 23-year mine life.
By Paul Ploumis
SEATTLE (Scrap Monster): Johannesburg-based miner Sibanye-Stillwater has approved the development of two major mining projects in Australia and South Africa. The company has given approval to the Mt Lyell copper-gold project in Tasmania and the Burnstone gold project in South Africa.
The Mt Lyell project involves restarting a historic mine near Queenstown at an estimated total investment of $340 million. Sibanye plans to spend about $7.5 million in 2026. The first production is expected by 2029. Once fully operational, Mt Lyell is expected to produce up to 26,000 tonnes of copper, 16,000 ounces of gold and 116,000 ounces of silver annually over a projected 23-year mine life.
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Meanwhile, the Burnstone gold project contains approximately 2.7 million ounces of gold reserves. The project is expected to produce around 130,000 ounces of gold annually for 25 years. Sibanye has allocated $5 million toward Burnstone in its 2026 capital spending plans.
The approvals follow the company’s improved financial position, driven by stronger gold and platinum group metals prices. The miner had recently reported a sharp rise in its first-half earnings.
The two projects are expected to broaden Sibanye's future production base beyond its established operations, adding copper and gold growth to the company’s pipeline.
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Which project will contribute more to Sibanye-Stillwater's production diversification?
Frequently Asked Questions
- What mining projects has Sibanye-Stillwater approved?
Sibanye-Stillwater has approved the development of the Mt Lyell copper-gold project in Tasmania, Australia, and the Burnstone gold project in South Africa. The projects are intended to expand the company's future production portfolio and provide additional copper and gold growth.
- What are the expected production levels at Mt Lyell?
Once fully operational, Mt Lyell is expected to produce up to 26,000 tonnes of copper, 16,000 ounces of gold and 116,000 ounces of silver annually. The project involves restarting the historic mine near Queenstown in Tasmania.
- What is the production potential of the Burnstone gold project?
Burnstone contains approximately 2.7 million ounces of gold reserves and is expected to produce around 130,000 ounces of gold per year for 25 years. Sibanye has allocated $5 million to Burnstone in its 2026 capital expenditure plans.
