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Sibanye-Stillwater says PGM production from Stillwater West mine affected following damage to shaft infrastructure

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(Kitco News) - Sibanye-Stillwater (NYSE: SBSW) announced today that an incident occurred at its US PGM operations' Stillwater West mine in Montana, USA during scheduled non-routine maintenance on the winder which services the vertical shaft accessing the deeper levels of the Stillwater West mine.

In a statement, the company said that this incident resulted in structural damage to the shaft headgear, winder house and winder rope, adding that there were no injuries to personnel from this incident and investigations into the causes of the incident are underway.

"The damage to the shaft infrastructure will require remediation, and access to the deeper levels of the mine will be impacted while remediation is underway. Access to the upper levels (above 50 level) of the Stillwater West mine and the Stillwater East mine (through the east portal) are unaffected and production from these areas, as well as from the East Boulder mine, will continue,” the company said.

Importantly, Sibanye-Stillwater noted that production from the Stillwater West mine below 50 level will be suspended for approximately four weeks until the remediation is completed, resulting in approximately 25,000 2Eoz to 30,000 2Eoz less production for the year.

"Further guidance will be provided once shaft repair schedules are finalized and production schedules have been fully optimized given current shaft constraints,” it added.

Sibanye-Stillwater is a multinational mining and metals processing company, one of the world's largest primary producers of platinum, palladium, and rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt.

The company has recently begun to build and diversify its asset portfolio into battery metals mining and processing and is increasing its presence in the circular economy by growing and diversifying its recycling and tailings reprocessing operations globally.

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