Sibanye-Stillwater (JSE: SSW, NYSE: SBSW) announced on Wednesday that has begun implementing measures to place its South African gold and PGM operations under temporary care and maintenance, in accordance with the nation-wide lockdown for 21 days, effective midnight on Thursday.
“This suspension of operations will adversely impact on production at the South African mines and shareholders are therefore cautioned that production for 2020 may differ from previous guidance,” Sibanye said in the media release.
In South Africa, the company’s gold operations consist of underground mining and surface treatment facilities at Beatrix, Driefontein and Kloof in the Witwatersrand Basin.
The company’s SA operations produced 1,176,600 oz of gold in 2018
The company’s SA operations produced 1,176,600 oz of gold in 2018.
Sibanye’s Southern Africa PGM operations consist of underground mining operations and surface sources at Kroondal, Rustenburg and at Marikana. The company also has a 91% stake in the Platinum Mile tailings retreatment facility near Rustenburg. These operations produced 1.18 million oz in 2018.
The company also reduced the number of people at its US operations on a temporary basis due to the coronavirus outbreak.