Sibanye-Stillwater

Last updated

Sibanye-Stillwater
Company type Public
JSE: SSW [1]
NYSE:  SBSW [2]
Industry Mining
FoundedNovember 2012
Headquarters
Johannesburg
,
South Africa
Area served
South Africa
Key people
Neal Froneman
(CEO)
Vincent Maphai
(Chairman)
Products Platinum
Palladium
Rhodium
Gold
Number of employees
84,775 (2020)
Website sibanyestillwater.com

Sibanye-Stillwater is a multinational mining and metals processing Group with a diverse portfolio of mining and processing operations and projects and investments across five continents. The Group is also one of the foremost global PGM auto catalytic recyclers and has interests in leading mine tailings retreatment operations.

Contents

Sibanye-Stillwater has established itself as one of the world's largest primary producers of platinum, palladium, and rhodium and is also a top-tier gold producer. It produces other platinum group metals (PGMs) such as iridium and ruthenium, along with chrome, copper and nickel as by-products. The Group 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.

History

In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited (“GFIMSA”), which was then renamed Sibanye Gold Limited (“Sibanye Gold”), and consisted of the KDC (formerly Kloof) and Beatrix mines, as well as an array of support service entities in South Africa. [3] "Gold Fields stockholders were given one share in Sibanye for each of their Gold Fields shares." [4] The three South African mines transferred from Gold Fields to Sibanye are:

The company immediately embarked upon a strategic growth plan which saw the 2013 acquisition of the Cooke operations from Gold One [5] as well as the WitsGold acquisition (Burnstone project) [6] of 2014.

In April [7] 2016 the company entered the PGM space, with an all-share offer for Aquarius Platinum. [8] (comprising Kroondal, Platinum Mile, a 50% shareholding in Zimbabwe's Mimosa mine and a number of exploration projects), as well as the acquisition of the Rustenburg operations from Anglo American Platinum Limited.

On 30 August 2017, following the successful purchase of the Stillwater Mining Company in Montana, Sibanye Gold Limited began trading as Sibanye-Stillwater and reorganized its operations by region – Southern Africa and the United States. [9]

In June 2019, Sibanye-Stillwater acquired Lonmin Plc, London, UK, a top tier PGM producer. The enlarged group is the world's largest primary producer of platinum and rhodium, one of the largest producer of palladium and the leading recycler and processor of spent PGM catalytic converter materials. [10]

February 2021 saw the Group enter the battery metals industry with an investment into and partnership with Keliber, [11] a leading European Lithium project based in Finland.

According to their 2020 annual report, the company produced 3 million ounces of PGM and 0.98 million ounces of gold. [12]

In 2020, the group employed 84,775 people, mostly in South Africa. Thus, Sibanye-Stillwater is one of the top four private sector employers in South Africa and the largest industrial employer in the state of Montana. [13]  

Sibanye-Stillwater's primary listing is on the Johannesburg Stock Exchange (JSE) in South Africa. The company trades under ticker codes JSE:SSW (previously SGL) and NYSE:SBSW as of its relisting on February 19, 2020. [14]

Controversies

Marikana miners' strike (Lonmin)

In 2012, what started as a peaceful protest resulted in a massacre. The Marikana massacre [15] was the killing of thirty-four miners by the South African Police Service (SAPS) on 16 August 2012, during a wildcat strike at the Lonmin platinum mine in Marikana, Rustenburg, North West province, South Africa. The violence started because of a history of antagonism and violence between the African National Congress-allied National Union of Mineworkers (NUM) and its emerging rival, the Association of Mineworkers and Construction Union (AMCU). At the Marikana platinum mine, operated by Lonmin at Nkaneng near Rustenburg, 3,000 workers walked off the job on 10 August after Lonmin failed to meet with workers. [16] On 11 August, NUM leaders allegedly opened fire on striking NUM members who were marching to their offices. [17] [18] [19] The killing of two miners was reported in the South African media as a central reason for the breakdown in trust within the union amongst workers. [17] [20] Despite earlier contradictory reports, the clashes on the 11th are now acknowledged to be the first incidents of violence during the strike.

According to the Bench Marks Foundation, the violence erupted against a backdrop of a lack of employment opportunities for local youth, squalid living conditions, unemployment and growing inequalities. [21] It claimed the workers were exploited and this was a motivation for the violence. It also criticised the high profits when compared with the low wages of the workers.

2014 South African platinum strike (Lonmin)

In 2014, a five-month-long platinum strike had resulted in the deaths of four people, [22] six stabbings, [23] and 24 billion rand ($2.25 billion) in lost revenue for the South African platinum industry. The GDP of South Africa contracted in the first quarter of 2014, pulled down by the steepest drop in mining production (25% of which 19% was directly attributable to the strike) in 50 years. [24] [25] It was the first contraction since 2009. [26] Workers, most of whom already lived in poverty, lost around 11 billion rands ($1 billion) in wages. [27]

2018 safety incident

In January 2018, a power outage caused by poor weather resulted in nearly 1000 miners being trapped underground. This occurred at the Beatrix gold mine near Welkom, South Africa. [28] Some of the trapped miners were rescued the day of the incident, and the remaining 955 were rescued after around 30 hours when power was restored to one of the lifts. [29] The incident resulted in pressure from labour unions, including the National Union of Metalworkers of South Africa, for mine management to address safety concerns before it can reopen. [30]

2018 fatalities

In early 2018, 20 out of the 45 mining deaths in South Africa occurred at Sibanye Stillwater. Then Minister of Mineral Resources, Gwede Mantashe, deplored the figure: “We are very worried about the fact that out of 45 fatalities thus far‚ 20 are from one company.” [31] Another death was reported a few weeks later. [32]

2019 strike

In 2019, a violent five-month strike resulted in nine deaths, [33] an estimated 62 houses burnt down, [34] and several wounded, which including burned children. The strike started as a dispute over wages but became the center of inter-union violence. Sibanye-Stillwater spokesperson James Wellsted said more than 500 mineworkers, which belonged to NUM and AMCU, and their families had to be evacuated because the situation was so unsafe.

Carbon footprint

Sibanye Stillwater reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 6,433 Kt (-652 /-9.2% y-o-y). [35] There is little evidence of a consistent declining trend as yet.

Sibanye Stillwater's Total CO2e emissions (Direct + Indirect) (in kilotonnes)
Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
5,316 [36] 6,402 [37] 5,463 [38] 7,085 [39] 6,433 [35]

See also

Related Research Articles

Lonmin plc, formerly Lonrho plc, was a British producer of platinum group metals operating in the Bushveld Complex of South Africa. It was listed on the London Stock Exchange. Its registered office was in London, and its operational headquarters were in Johannesburg, South Africa.

Anglo American Platinum Limited is the world's largest primary producer of platinum, accounting for about 38% of the world's annual supply.

<span class="mw-page-title-main">Bushveld Igneous Complex</span> Large early layered igneous intrusion

The Bushveld Igneous Complex (BIC) is the largest layered igneous intrusion within the Earth's crust. It has been tilted and eroded forming the outcrops around what appears to be the edge of a great geological basin: the Transvaal Basin. It is approximately two billion years old and is divided into four limbs: northern, eastern, southern and western. It comprises the Rustenburg Layered suite, the Lebowa Granites and the Rooiberg Felsics, that are overlain by the Karoo sediments. The site was first publicised around 1897 by Gustaaf Molengraaff who found the native South African tribes residing in and around the area.

<span class="mw-page-title-main">Gold Fields</span> South African mining company

Gold Fields Limited is one of the world's largest gold mining firms. Headquartered in Johannesburg, South Africa, the company is listed on both the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE). The firm was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. The company traces its roots back to 1887, when Cecil Rhodes founded Gold Fields of South Africa Limited. As of 2019, Gold Fields was the world's eighth-largest producer of gold.

<span class="mw-page-title-main">National Union of Mineworkers (South Africa)</span> South African trade union

The National Union of Mineworkers (NUM) is a mainly mining industry related trade union, an organisation of workers with common goals through organised labour, in South Africa. With a membership of 300,000 as of 2014, it is the largest affiliate of the Congress of South African Trade Unions (COSATU).

<span class="mw-page-title-main">Stillwater Mining Company</span> Palladium and platinum mining company

Stillwater Mining Company is a palladium and platinum mining company with headquarters located at Littleton, Colorado, United States. It is the only palladium and platinum producer in the USA. The only other North America based palladium/platinum producer is North American Palladium, located in Canada. In 2017 it was acquired by Sibanye Gold Limited, who then began trading as Sibanye-Stillwater

<span class="mw-page-title-main">Mining industry of South Africa</span>

Mining in South Africa was once the main driving force behind the history and development of Africa's most advanced and richest economy. Large-scale and profitable mining started with the discovery of a diamond on the banks of the Orange River in 1867 by Erasmus Jacobs and the subsequent discovery of the Kimberley pipes a few years later. Gold rushes to Pilgrim's Rest and Barberton were precursors to the biggest discovery of all, the Main Reef/Main Reef Leader on Gerhardus Oosthuizen's farm Langlaagte, Portion C, in 1886, which kicked off the Witwatersrand Gold Rush and the subsequent rapid development of the gold field there.

<span class="mw-page-title-main">Aquarius Platinum</span>

Aquarius Platinum plc is a Bermuda-registered and headquartered mining business.

The SouthAfrican Mine Workers' Strike was a labour dispute involving mine workers of Witwatersrand in South Africa. It started on 12 August 1946 and lasted approximately a week. The strike was attacked by police and over the week, at least 1,248 workers were wounded and at least 9 killed.

<span class="mw-page-title-main">Impala Platinum</span> Multinational mining corporation based in South Africa

Impala Platinum Holdings Limited or Implats is a South African holding company that owns several companies which operate mines that produce platinum and platinum group metals, as well as nickel, copper and cobalt. Its most significant mine is the Impala mine in the North West province of South Africa. The company also owns or has interest in the Two Rivers mine and the Marula mine in the South Africa Bushveld Igneous Complex and the Mimosa mine and Zimplats in Zimbabwe, as well as the Impala Refining Services which smelts and refines metals for other companies. In December 2019, Impala Canada was formed, owned by the holding company, out of the acquisition of North American Palladium and its mine in Ontario, Canada.

The Constitution of South Africa protects all basic political freedoms. However, there have been many incidents of political repression, dating back to at least 2002, as well as threats of future repression in violation of this constitution leading some analysts, civil society organisations and popular movements to conclude that there is a new climate of political repression or a decline in political tolerance.

Marikana, also known as Rooikoppies, is a town in the Rustenburg Local Municipality, Bojanala Platinum District Municipality in the North West province of South Africa.

<span class="mw-page-title-main">Marikana massacre</span> 2012 killing of striking miners by police in Wonderkop, North West, South Africa

The Marikana massacre was the killing of thirty-four miners by the South African Police Service (SAPS) on 16 August 2012 during a six-week wildcat strike at the Lonmin platinum mine at Marikana near Rustenburg in South Africa's North West province. The massacre constituted the most lethal use of force by South African security forces against civilians since the Soweto uprising in 1976 and has been compared to the 1960 Sharpeville massacre.

<span class="mw-page-title-main">Association of Mineworkers and Construction Union</span> Trade union in South Africa

The Association of Mineworkers and Construction Union (AMCU) was formed in Mpumalanga, South Africa, in 1998 as a breakaway faction of the COSATU-affiliated National Union of Mineworkers (NUM). It was formally registered as a union in 2001. According to Mining Weekly, the union sees itself as distinct from NUM in that it is "apolitical and noncommunist".

<span class="mw-page-title-main">Workers and Socialist Party</span> Political party in South Africa

The Workers and Socialist Party (WASP) is a Marxist and Trotskyist political party in South Africa affiliated to International Socialist Alternative.

The KDC mine, formerly the Kloof mine, is a large mine located in the northern part of South Africa in Gauteng, near Carletonville, and represents one of the largest uranium reserves in South Africa having estimated reserves of 256.4 million tonnes of ore grading 0.0036% uranium.

Marikana is a town near Rustenburg, North West Province, South Africa.

On 15 November 2014 workers at South Africa's major platinum producers – Anglo American Platinum, Impala Platinum, and Lonmin – went on strike demanding that wages be immediately doubled. However, after five months of striking they settled for a more modest pay increase spread over three years. It was the longest and most expensive strike in South African history.

<span class="mw-page-title-main">Senzeni Zokwana</span> South African politician

Senzeni Zokwana is a South African politician. He is a former Member of Parliament and served until May 2019 as the Minister of Agriculture, Forestry and Fisheries, having been appointed by President Jacob Zuma in May 2014. He previously served as the President of the National Union of Mineworkers (NUM).

Msokoli Frans Baleni is a South African businessman and former trade unionist who was general secretary of the National Union of Mineworkers between 2006 and 2015. Since 2007, he has been a member of the Central Committee of the South African Communist Party.

References

  1. ↑ "Sibanye Stillwater Ltd | Johannesburg Stock Exchange".
  2. ↑ "NYSE". www.nyse.com.
  3. ↑ Sibanye-Stillwater [ permanent dead link ] "Company Announcements", Sibanye-Stillwater, November 29, 2012. Retrieved April 11, 2018.
  4. ↑ Minto, Rob "Gold Fields and Sibanye: low start", Financial Times, February 11, 2013. Retrieved April 11, 2018.]
  5. ↑ "Sibanye Gold acquires Cooke operations from Gold One". 21 August 2013.
  6. ↑ "Joint announcement: Sibanye Gold to make a cash offer to acquire the entire issued ordinary share capital of Wits Gold and cautionary announcement". 11 December 2013.
  7. ↑ "Sibanye takes ownership of the Rustenburg Platinum Mines and implements management changes" (PDF). thevault.exchange. Westonaria. 1 November 2016. Archived (PDF) from the original on 7 April 2023. Retrieved 25 June 2023.
  8. ↑ "Sibanye Gold Agrees To Buy Aquarius Platinum For $294 Million". Kitco. 6 October 2015. Retrieved 13 May 2016.
  9. ↑ Sibanye-Stillwater "History", Sibanye-Stillwater, November 29, 2012. Retrieved April 11, 2018.
  10. ↑ MarketScreener. "Media release: Sibanye-Stillwater changes NYSE ticker symbol from SBGL to SBSW to highlight new corporate structure and diversified asset mix | MarketScreener" . Retrieved 3 January 2021.
  11. ↑ "Keliber".
  12. ↑ Sibanye-Stillwater, Financial Annual Report (2020). "Annual reports". Sibanye-Stillwater. Retrieved 21 July 2021.{{cite web}}: CS1 maint: numeric names: authors list (link)
  13. ↑ Sibanye-Stillwater, Integrated Report (2020). "Annual reports". Sibanye-Stillwater. Retrieved 21 July 2021.{{cite web}}: CS1 maint: numeric names: authors list (link)
  14. ↑ "Finalisation of the Scheme relating to the internal restructuring of SGL" (PDF). thevault.exchange. 11 February 2020. Archived (PDF) from the original on 7 April 2023. Retrieved 25 June 2023.
  15. ↑ "South Africa's Marikana mine closed by 'intimidation'". BBC News. 27 August 2012. Retrieved 7 February 2022.
  16. ↑ "NUM: Lethal force ahead of Marikana shootings was justified". Mail & Guardian. 22 October 2012. Retrieved 23 October 2012.
  17. 1 2 Sacks, Jared (12 October 2012). "Marikana prequel: NUM and the murders that started it all". Daily Maverick. Retrieved 28 February 2022.
  18. ↑ "South Africa: Marikana massacre – a turning point?". Links. 27 August 2012.
  19. ↑ "NUM shot at us – witness". Independent Online. 2 October 2012.
  20. ↑ "Marikana 20 years in the making". Business Report. 21 October 2012. Retrieved 23 October 2012.
  21. ↑ "Lonmin an example of exploitation". www.iol.co.za. Retrieved 7 February 2022.
  22. ↑ News, Taiwan (13 May 2014). "South Africa: 3 miners killed during strike | Taiwan News | 2014-05-13 17:42:01". Taiwan News. Archived from the original on 7 February 2022. Retrieved 7 February 2022.{{cite web}}: |last= has generic name (help)
  23. ↑ "Three workers killed amid platinum belt strike - NUM". The Mail & Guardian. 12 May 2014. Retrieved 7 February 2022.
  24. ↑ "Union says wage deal to end South African platinum strike is imminent". Reuters. 13 June 2014. Archived from the original on 5 March 2016. Retrieved 29 June 2014.
  25. ↑ "Marcus warns on mine strike". Business Report. IOL. 10 June 2014. Retrieved 1 July 2014.
  26. ↑ "South Africa hit by engineering strike". BBC News. 1 July 2014. Retrieved 7 February 2022.
  27. ↑ Maylie, Devon (23 June 2014). "South African Platinum Miners Agree to End Strike". Wall Street Journal. ISSN   0099-9660 . Retrieved 7 February 2022.
  28. ↑ Batchelor, Tom (1 February 2018). "Nearly 1,000 miners trapped underground in South Africa". The Independent. Retrieved 3 February 2018.
  29. ↑ Heiberg, Tanisha; Macharia, James (2018). "Workers trapped underground in South Africa gold mine rescued". Reuters. Retrieved 4 February 2018.
  30. ↑ Motau, Koketšo (2 February 2018). "Numsa demands closure of Sibanye-Stillwater mine amid probe". Eye Witness News. Retrieved 4 February 2018.
  31. ↑ "20 out of 45 mining deaths in 2018 have been at Sibanye-Stillwater mines: Mantashe". TimesLIVE. Retrieved 7 February 2022.
  32. ↑ Cotterill, Joseph; Sanderson, Henry (26 June 2018). "Sibanye-Stillwater's safety record under fire". Financial Times. Retrieved 7 February 2022.
  33. ↑ "Deadly cost of Sibanye-Stillwater gold miners' strike". The Mail & Guardian. 30 April 2019. Retrieved 7 February 2022.
  34. ↑ "South Africa's mines minister calls on police to quell violence at Sibanye mine". Reuters. 5 March 2019. Retrieved 7 February 2022.
  35. 1 2 "Sibanye Stillwater's Annual Report for 2020Q4" (PDF). Archived from the original (PDF) on 17 July 2021. Alt URL
  36. ↑ "Sibanye Stillwater's Annual Report for 2018Q4" (PDF). Archived from the original (PDF) on 30 September 2020. Alt URL
  37. ↑ "Sibanye Stillwater's Annual Report for 2019Q4" (PDF). Archived from the original (PDF) on 3 February 2021. Alt URL
  38. ↑ "Sibanye Stillwater's Annual Report for 2020Q4" (PDF). Archived from the original (PDF) on 17 July 2021. Alt URL
  39. ↑ "Sibanye Stillwater's Annual Report for 2020Q4" (PDF). Archived from the original (PDF) on 17 July 2021. Alt URL
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.