Sibanye-Stillwater boosts 4E platinum group metals reserves by 40%
(Kitco News) - Sibanye-Stillwater (JSE: SSW) (NYSE: SBSW), the world’s largest primary producer of platinum and rhodium, yesterday announced a 40% increase in 4E platinum group metals (PGM) Mineral Reserves at the SA PGM operations to 39.5M 4Eoz, primarily due to the inclusion of the Marikana K4 project (12.7 M 4Eoz) and the Klipfontein opencast project (0.1M 4Eoz) following detailed feasibility studies.
The company also reported a 7% (5.8Moz) increase in 2E PGM Mineral Resources, with additional Mineral Reserves of 0.8M 2E PGM ounces defined at East Boulder mine replacing combined depletion of 0.7M 2Eoz during 2020. Combined Mineral Reserves of 26.9M 2Eoz were stable at the US PGM operations.
Gold Mineral Reserves of 11.3Moz were stable at the SA gold operations, with depletion of 1.0 Moz for 2020 off-set by an 0.8Moz increase in attributable Mineral Reserves from DRDGOLD due to the increase in Sibanye-Stillwater’s shareholding in DRDGOLD from 38.05 to 50.1%, an additional 0.2Moz Mineral Reserves derived from secondary reef exploration campaigns at the Driefontein operation.
The company added that gold Mineral Resources at the SA gold operations decreased by 15.9Moz, primarily due to the exclusion of Below Infrastructure Mineral Resources at Driefontein.
Sibanye-Stillwater is a leading international precious metals mining company, with a diverse portfolio of PGM operations in the United States and Southern Africa, gold operations and projects in South Africa, and copper, gold and PGM exploration properties in North and South America.
It is the world’s largest primary producer of platinum and rhodium, the second largest primary producer of palladium and a top tier gold producer, as well as a significant producer of other PGMs and associated minerals such as chrome.