Mining News
Sibanye-Stillwater posts maiden lithium reserves in its 2022 MRR statement, SA gold resources down 8.2%
(Kitco News) - Sibanye-Stillwater (NYSE: SBSW) today announced attributable group mineral resources and mineral reserves (MRR) as at 31 December 2022.
In its 2022 MRR statement, the company reported maiden lithium mineral reserve of 193.6kt of lithium carbonate equivalent (LCE), and a 26% increase in lithium mineral resources to 243.5kt of LCE.
At the company's US PGM operations, total 2E PGM mineral resources were 56.0Moz, a year-on-year decrease of 7.1%; and total 2E PGM mineral reserves were 26.3Moz, a year-on-year decrease of 3.6%.
Sibanye added that during 2022, a comprehensive update of the MRR estimation methodology at the Montana operations was undertaken, which also included an update to the mine plan and scheduling.
"This repositioning of the US PGM operations culminated in a revision to the mineral reserves which now supports a 42 year LoM, building up to +700koz of annual production from 2027," the company said.
At the company's SA PGM operations, total 4E PGM mineral resources were 135.6Moz, a year-on-year increase of 1.9%; and total 4E PGM mineral reserves were 31.4Moz, a year-on-year decrease of 2.3%. At the company's SA PGM exploration projects, total 4E PGM mineral resources were 53.1Moz, up 0.5% over 2021.
"The large 4E PGM mineral resources base at the SA PGM operations provide significant opportunity to increase future mineral reserves, extending the life of the operations and unlocking substantial value, subject to the necessary studies being completed and a supportive investment environment," it added.
The company also reported "stable" gold mineral reserves of 12.9Moz (-0.6%), and gold mineral resources of 55.5Moz (-8.2%) at its SA gold operations and projects (including DRDGOLD).
Total uranium mineral resources of 66.6Mlb U3O8 were unchanged from 2021.
Sibanye-Stillwater is a multinational mining and metals company with a diverse portfolio of mining and processing operations and projects and investments across five continents. The company is also one of the foremost global PGM autocatalytic recyclers and has interests in leading mine tailings retreatment operations.
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