Sibanye-Stillwater Assumes Full Ownership Of Kroondal Earlier Than Expected
Sibanye-Stillwater Assumes Full Ownership Of Kroondal Earlier Than Expected. Sibanye-Stillwater is pleased to announce that the transaction entered into between Rustenburg Platinum Mines Limited (RPM) a subsidiary of Anglo American Platinum Limited (AAP), and Sibanye-Stillwater’s subsidiary, Sibanye Rustenburg Platinum Mines Limited (Rustenburg operation) as announced on 31 January 2022, has been brought forward, resulting in the Rustenburg operation acquiring RPM’s 50% share in the Kroondal pool and share agreement (Kroondal PSA) and the Group assuming full ownership of the low cost, mechanised Kroondal operation, effective 1 November 2023.
Sibanye-Stillwater Chief Executive Officer Neal Froneman commented “Concluding the transaction earlier enables effective consolidation of these operations under a single owner. By extending the operating life of the Kroondal operation, which as a standalone operation was constrained by the existing PSA agreement. We are now able to realise the true potential of our adjacent resources by utilising the mechanised and low-cost Kroondal operation to mine across the boundary with the Rustenburg operation. This will accelerate the extraction of more remote parts of the Rustenburg operation orebody, expected to sustain employment for thousands of employees until 2029 and ensure the creation of significant shared value for all stakeholders in the region.”
Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of PGM autocatalysts and has interests in leading mine tailings retreatment operations. Sibanye-Stillwater has established itself as 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 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.
Kroondal is a shallow, low-cost, mechanised underground PGM mine with two concentrators located on the Western Limb of the Bushveld Complex, 12km east of the town of Rustenburg in the North West Province, of South Africa, some 120km north-west of Johannesburg.
