Sibanye-Stillwater declares Mineral Resources and Mineral Reserves

Johannesburg – Sibanye-Stillwater has established a diversified portfolio of assets across five continents, with substantial Mineral Resources underpinning long life production of a diverse mix of metals and minerals – which reduces risk and supports its strategy of producing green metals and future energy solutions.

Salient features

• A maiden lithium (Li) Mineral Reserve of 193.6kt of Lithium Carbonate Equivalent (LCE), and a 133% increase in Li Mineral Resources to 452.9kt of LCE
  • Continuous execution and delivery on the Group’s green metals strategy with an increased focus on battery metals, has led to an increase in attributable ownership of the Keliber project in Finland from 26.6% to 84.96%
  • The declaration of Mineral Reserves follows the completion of a positive Feasibility Study (FS) and the approval for the construction of the Keliber project
  • Ongoing, successful exploration at the large and prospective mineral tenement holdings at Keliber also contributed an additional 30.4kt of attributable LCE Mineral Resource
• 2E PGM Mineral Reserves of 26.3Moz and Mineral Resources of 84.2Moz following the repositioning of our US PGM operations and consequent update of the life of mine (LoM) plans
  • The Mineral Reserves supports a 42 year LoM, building up to 700koz of annual production by 2026
  • The estimates reflects minor year-on-year decreases of 3.6% and 6.1% respectively, due to enhanced t in estimation methodologies, with considerable Mineral Reserve upside potential remaining, based on the very large Inferred Resource base of 44.8Moz
• 31.4Moz 4E PGM Mineral Reserves at our SA PGM operations, and a 1.5% increase in Mineral Resources to 177.3Moz
  • The 2.3% decrease in Mineral Reserves was principally driven by depletion of 2.7Moz during 2022, partly off-set by the conclusion of a positive FS at the 50% owned Mimosa North Hill project (+1.5Moz), which is currently under board consideration for construction
  • 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
• Stable Mineral Reserves of 12.9Moz (-0.6%), and Mineral Resources of 69.3Moz (-7.2%) at our SA gold operations and projects (including DRDGOLD)