Sibanye-Stillwater to build new copper, gold mines on two continents
The miner is advancing new mines in Australia and South Africa as stronger metals prices boost earnings and shareholder returns.
Sibanye-Stillwater, a Johannesburg-based miner, has approved plans to build new copper and gold mines in Tasmania and South Africa, marking a step towards unlocking unrealized value from its project portfolio. The miner has allocated $7.5 million for the Mt Lyell copper-gold project in Tasmania, set to start producing by 2029, and $5 million for the Burnstone gold project in South Africa, expected to begin operations in 2029 as well.
Both mines will help shift Sibanye's gold portfolio towards shallower, lower-risk, and longer-life production. The approvals come as metals prices have strengthened, providing a favorable backdrop for the company to commit capital to these projects.
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