Sibanye Mining Group

Trollope_Mining_Services - Mining companies in Africa
Trollope Mining Services
March 29, 2017
Louis Coetzee
Louis Coetzee
March 23, 2017

Sibanye Mining Group

sibanye - Mining companies in Africa
  • Year Founded: 2012
  • Key Founding Individuals: Founded after Gold Fields unbundled its subsidiary GFI Mining
  • Key People: Sello Moloko – Chairman, Neal Froneman - CEO
  • Mined Resources: Gold and platinum
  • Operational Regions:Africa

Sibanye is an independent South African mining group that owns and manages gold and platinum mining operations. Sibanye is known as the biggest individual gold producer in the country, one of the ten biggest gold producers in the world and the fifth biggest platinum group metals (PGM) producer in the world.

History

In 2012 Gold Fields decided to unbundle GFI Mining South Africa, a 100% owned subsidiary. In 2013 it was listed on the Johannesburg Stock Exchange as Sibanye Gold Limited and started trading at around R14 per share. A little later on the same day Sibanye’s ADR Programme was listed on the New York Stock Exchange. In August 2013 Sibanye announced its acquisition of Gold One International’s Cooke Operations. By December Sibanye made a R407 million offer on Wits Gold projects. By 2014 the first consignment of uranium was produced from the Cooke Operations and the acquisition of Wits Gold was concluded. In 2015 the Rustenburg operations of Anglo American Platinum Limited was announced and a cash offer on Aquarius Platinum was announced.

Operations

Sibanye is involved in gold mining, PGMs and energy.Gold - The company mines and processes gold ore with the aim of producing doré, which is then transported to Rand Refinery where it is further refined into gold bars. The purity is in accordance with the standards set by the London Bullion Market Association and is at least at 99.5%. Rand Refinery is the largest gold refiner in Africa and one of the largest in the world. Sibanye owns a 33% share in Rand Refinery.PGMs – Sibanye’s platinum assets mine ore that is processed into concentrated PGMs like platinum rhodium and palladium. The concentrate is sold to customers for smelting and refining to manufacture refined PGMs.Energy – South Africa and the South African mining industry are experiencing major challenges with reliability and cost of electricity. Because of these issues Sibanye has taken a proactive stance and is investigating stable and sustainable energy sources with the aim of reducing the country’s reliance on Eskom, South Africa’s state-owned power company. Sibanye is placing focus on renewable energy with a solar energy project and is also exploring gas and coal power stations.

Mission and Vision

By fostering and maintaining constructive engagement with all stakeholders the company is able to deliver superior value while ensuring sustainability and enduring success of the business.

Corporate Responsibility

Sibanye holds social responsibility in highest regard and upholds a high level of environmental standards. The company maintains compliance with legislative governance in regards to areas like waste management, the regulated use of resources and the conservation of biodiversity. Employees play an active role in maintaining social responsibility and are encouraged to adhere to the Sibanye Environmental Policy. The company also has a community development strategy which was created with the aim of improving living conditions of locals and to create opportunities beyond mining that will sustain and uplift communities.