Form 6-K Sibanye Stillwater Ltd Due: January 20
SA PGM* operations continue to perform well with production for 2021 of 1,896,670 4Eoz (of which
attributable ounces of Mimosa), 3% above the upper guidance level of 1,850,000 4Eoz and production
of 967,678 4Eoz in H2 2021, i.e. 8% more than in H1 2021. After an initial slow resumption of work and a start in
operation Marikana, SA PGM operations are accelerating well after the break in December 2021 with
Khuseleka well (after safety suspension imposed by management) and Thembelani well (temporarily
suspended due to an increase in COVID-19 infections among supervisors and senior managers), both
resumption of production as planned in January 2022.
MGP production mined from US MGP operations of 570,399 2Eoz was at the lower end of the review
forecast of 570,000 2Eoz, mainly due to the continued impact of the June 2021 security incident, with
production of 272,098 2Eoz in H2 2021, down 9% compared to H1 2021. The implementation of new rail safety measures
improvements following the June 2021 security incident continued to restrict production of the Stillwater
West Mine, which remains restricted by stop orders from mine safety and administration. In addition,
production at the East Boulder mine was impacted by power outages in December 2021 due to
severe weather conditions. Fortunately, the renovation of the bridge that crosses the Stillwater River in
the Stillwater East mine to concentrator was completed in December 2021 and is now fully operational.
The Recycling business had another strong year, with recycled PGM sales of 795,000 3Eoz for the year, within
orientation from 790,000 to 810,000 3Eozs. Higher feed rates in the second half of 2021 facilitated a significant drop in
inventories from recycling operations that were built up in H1 2021.
SA PGM’s operations production forecast includes 50% of attributable mimosa production, although AISC and capital
excludes Mimosa due to its equity method. SA PGM’s forecast excludes the production and costs of K4 and
Investor relations contact:
Relations Tel: +27 (0) 83 53 4014
Sponsor: JP Morgan Equities South Africa Proprietary Limited