Sibanye-Stillwater Declared Updates to 2021 Operating Guidance

SEATTLE (Scrap Monster): Sibanye-Stillwater, in its latest market release, announced updates to its operating guidance for the current year. The revision is primarily on account of various safety-related interventions, aimed at ensuring safety and health of more than 80,000 of its employees.

The company had launched a safety intervention across the group between 28^th October and 2^nd November, 2021. The operations at all of the company facilities were suspended during these days, in order to enable full and comprehensive safety audits.

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Unfortunately, the South African operations reported three separate fatal safety incidents between 29^th November and 3^rd December, 2021, in which five worker casualties were reported. The incidents are being investigated in cooperation with inspectors from the Department of Mineral Resources and Energy (DMRE) and other stakeholders. Following this, it has decided to suspend operations at the Kloof 1 and Beatrix 3 shafts at the SA gold operations and the Rustenburg Khuseleka shaft at the SA PGM operations until further notice.

The gold production for the current year is forecast to be close to the lower end of the previous guidance of between 884,000 oz and 948,000 oz. The AISC is forecast at the upper end of the guidance range of between $1,690 per oz and $1,742 per oz.