Mining and metal-processing group Sibanye-Stillwater earns a place in the top 10 in this year’s Sunday Times Top 100 Companies Awards, moving up to fourth place from last year’s 16th.
The multinational group, with a diverse portfolio across five continents, is building a portfolio of green metals and energy solutions to address climate change, says CEO Neal Froneman.
Sibanye is the world's largest primary producer of platinum and second-largest primary producer of palladium and, over the past 10 years, Froneman has transformed the company from a 1.5-million ounces a year mine into a leading diversified metals producer with an international footprint.
“Some of our strategic differentiators,” says Froneman, “are to be recognised as a force for good: we have a unique global portfolio of green metal and energy solutions that reverse climate change and we are inclusive, diverse and bionic. We have four strategic differentiators that represent the opportunities we have identified to be distinctive in the global minerals industry.”
Sibanye's portfolio consist of platinum group metal (PGM) operations in the US, Zimbabwe and South Africa; gold operations in South Africa; copper, gold and PGMs in North and South America; and a zinc treatment facility and copper property in Australia.
As part of its strategy, Froneman says, Sibanye must adapt to the demands and opportunities posed by the transition to green metals and clean energy solutions. He says the company has to stay agile to capitalise on emerging opportunities and challenges.
On expansion plans, Froneman says: “We are involved in a process with the Zambian government aimed at the potential acquisition of the Mopani copper mine, previously one of the richest copper mines in the world. We have a strong balance sheet and high-quality assets and intend growing our battery metals energy solutions exposure.”
New technology applied in an inclusive culture to augment human capacity can help us save lives, uplift communities, reduce emissions and protect the environment
— CEO Neal Froneman
Froneman says though the increasing frequencies of load curtailment posed a significant risk to operations in the past financial year, their impact was mitigated through the implementation of comprehensive protocols. These included rescheduling energy-intensive activities to lower demand periods and using the company's own generation capacity at its South African operations.
“Our self-generation strategy has progressed, with construction already having started on our first renewables project, the 89MW Castle wind farm, announced in July this year. This is a measurable milestone in our implementation of the company's 600MW renewable energy programme expected to be completed in 2026,” says Froneman.
Froneman says work stoppages, inclement weather conditions, load curtailment, illegal mining, crime, low commodity prices and regulatory inconsistencies are some of the challenges the company faces.
In September, it issued section 189 notices with the intention to retrench about 3,000 workers at its Kloof 4 shaft gold mine at Carletonville, Gauteng. This is due to losses over an extended period and operational constraints.
Last month it also announced retrenchments at some platinum operations.
In a company statement issued at the time, Sibanye said: “The initiation of section 189 consultations follows numerous unsuccessful attempts to address productivity issues and other operational constraints at Kloof 4 shaft, including seismicity and cooling constraints which, together, have contributed to sustained losses even at recent high gold prices.”
In giving back to communities, particularly in the education sector, Sibanye-Stillwater partnered with Wits University in July this year on a project called “Bridging the gap between mining and people”.
The project involved the refurbishing of the university's engineering and built environment faculty, accompanied by a R51m donation for bursaries and learnerships within Sibanye's mining operations, graduate internship programmes and staff development in the Wits engineering and built environment faculty.
“The Wits Sibanye-Stillwater partnership, which is an innovation bridge, represents an enduring investment in human capital and future engineering skills. The project represents shared value and a strengthening of the partnerships forged in 2022,” says Froneman.
Since 2014, Sibanye has enabled more than 500 students to study at Wits by providing bursaries and allowances amounting to R19.4m. In addition, the group has contributed R68.5m in funding for the DigiMine digital laboratory, with a further R5.5m committed for this year. The company has also donated R50m worth of technical equipment to the university 's engineering and built environment faculty.
“The Sibanye-Stillwater Wits partnership symbolises the fusion of industry and academia as we join forces to shape the future of mining and create a lasting, positive impact on our planet. It is a commitment to the shared values of excellence, integrity and collaboration,” says Froneman.
The project is also part of Sibanye's 10-year celebrations.
Froneman says the fourth industrial revolution presents opportunities to “rewire ” its business to embrace the global values of human rights and environmental stewardship in distinctive ways.
“New technology applied in an inclusive culture to augment human capacity can help us save lives, uplift communities, reduce emissions and protect the environment.”
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