Sibanye Stillwater Limited (SBSW) 20-F 22 Apr 21 2020 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2020shares
Cover [Abstract]
Entity Registrant Name	Sibanye Stillwater Ltd
Entity Central Index Key	0001786909
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Type	20-F
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Common Stock, Shares Outstanding	2,923,570,507
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY

CONSOLIDATED INCOME STATEMENT

CONSOLIDATED INCOME STATEMENT - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed consolidated income statement
Revenue	R 127,392.4	R 72,925.4	R 50,656.4
Cost of sales	(83,368.8)	(63,314.5)	(48,129)
Interest income	1,065.4	560.4	482.1
Finance expense	(3,151.8)	(3,302.5)	(3,134.7)
Share-based payments	(512.4)	(363.3)	(299.4)
Total (loss)/gain on financial instruments	(2,450.3)	(6,015.1)	1,704.1
Gain on foreign exchange differences	(255)	325.5	1,169.1
Share of results of equity-accounted investees after tax	1,699.8	721	344.2
Other costs	(2,726.9)	(2,310.4)	(1,015.4)
Other income	1,657.4	484.2	310.2
Gain on disposal of property, plant and equipment	98.8	76.6	60.2
(Impairment)/ Reversal of impairment recognised in profit or loss	121.4	(86)	(3,041.4)
Loss on settlement of convertible bond	(1,506.7)
Gain on derecognition of borrowings and derivative instrument			230
Occupational healthcare expense	(52.3)	39.6	(15.4)
Restructuring costs	(436.2)	(1,252.4)	(142.8)
Loss on Bulk Tailings re-Treatment early settlement	(186.2)
Transaction costs	(138.6)	(447.8)	(402.5)
Gain on acquisition		1,103
Loss before royalties, carbon tax and tax	37,250	(856.3)	(1,224.3)
Royalties	(1,765)	(431)	(212.6)
Carbon tax	(5.2)	(12.9)
Loss before tax	35,479.8	(1,300.2)	(1,436.9)
Mining and income tax	(4,858.2)	1,733	(1,083.8)
Profit/(loss) for the period	30,621.6	432.8	(2,520.7)
Attributable to:
Owners of the parent	29,311.9	62.1	(2,499.6)
Non-controlling interests	R 1,309.7	R 370.7	R (21.1)
Earnings per share attributable to owners of Sibanye-Stillwater
Basic earnings per share	R 10.74	R 0.02	R (1.10)
Diluted earnings per share	R 10.55	R 0.02	R (1.10)

Condensed consolidated statemen

Condensed consolidated statement of other comprehensive income - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed consolidated statement of other comprehensive income
Profit/(loss) for the period	R 30,621.6	R 432.8	R (2,520.7)
Other comprehensive income
Other comprehensive income, net of tax	(2,005.8)	(465.9)	1,764.1
Foreign currency translation	(2,226.7)	(594.8)	1,719.1
Fair value adjustment on other investments	220.9	128.9	45
Total comprehensive income	28,615.8	(33.1)	(756.6)
Total comprehensive income attributable to:
Owners of Sibanye Stillwater	27,287	(403.1)	(733.1)
Non-controlling interests	R 1,328.8	R 370	R (23.5)

CONSOLIDATED STATEMENT OF FINAN

CONSOLIDATED STATEMENT OF FINANCIAL POSITION - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Non-current assets	R 81,860.5	R 74,908.1	R 69,727.7
Property, plant and equipment	60,600	57,480.2	54,558.2
Right-of-use assets	295.6	360.9	0
Goodwill	7,165.2	6,854.9	6,889.6
Equity-accounted investments	5,621	4,038.8	3,733.9
Other investments	847	598.7	156
Environmental rehabilitation obligation funds	4,934	4,602.2	3,998.7
Other receivables	821.3	683.5	314.4
Deferred tax assets	1,576.4	288.9	76.9
Current assets	52,242.6	26,163.7	15,195.3
Inventories	24,952.4	15,503.4	5,294.8
Trade and other receivables	6,865.6	4,635	6,833
Other receivables, current	36.8	51.2	35.2
Tax receivable	148	355.1	483.2
Cash and cash equivalents	20,239.8	5,619	2,549.1
Total assets	134,103.1	101,071.8	84,923
Equity and liabilities
Equity attributable to owners of Sibanye Stillwater	68,480.3	29,670.6	23,788.4
Stated share capital	30,149.8	0	0
Other reserves	25,570.4	45,104.3	39,284.2
Accumulated profit/(loss)	12,760.1	(15,433.7)	(15,495.8)
Non-controlling interests	2,235.7	1,467.7	936
Total equity	70,716	31,138.3	24,724.4
Non-current liabilities	45,900	55,606.7	45,566
Borrowings, non-current	17,497	23,697.9	18,316.5
Derivative financial instrument		4,144.9	408.9
Lease liabilities, non-current	223.2	272.8
Environmental rehabilitation obligation and other provisions	8,633.8	8,714.8	6,294.2
Post-retirement healthcare obligation			5.6
Occupational healthcare obligation	1,037.7	1,133.4	1,164.2
Cash-setttled share-based payment obligations, non-current	1,595.3	1,343	168.9
Other payables	2,910.7	2,687.5	2,529.2
Deferred revenue, noncurrent	6,362.7	6,896.5	6,525.3
Tax and royalties payable	8.6	59.1
Deferred tax liabilities	7,631	6,656.8	10,153.2
Total current liabilities	17,487.1	14,326.8	14,632.6
Borrowings, current	885.6	38.3	6,188.2
Lease liabilities, current	103.6	110
Occupational healthcare obligation, current	156.9	148.7	109.9
Cash-settled share-based payment obligations, current	33.1	82.1	56.8
Trade and other payables	13,207.4	11,465.9	7,856.3
Other payables, current	2,245.9	761.4	303.3
Deferred revenue, current	66.9	1,270.6	30.1
Tax, carbon tax and royalties payable	787.7	449.8	88
Total equity and liabilities	R 134,103.1	R 101,071.8	R 84,923

Condensed consolidated statem_2

Condensed consolidated statement of changes in equity - ZAR (R) R in Millions	Stated share capital	Reorganisation reserveLonmin Ltd	Reorganisation reserve	Share-based payment reserve	Mark to market reserve	Foreign currency translation reserve	Accumulated lossDRDGOLD Limited	Accumulated loss	Equity attributable to owners of SibanyeDRDGOLD Limited	Equity attributable to owners of SibanyeLonmin Ltd	Equity attributable to owners of Sibanye	Non-controlling interests memberDRDGOLD Limited	Non-controlling interests memberLonmin Ltd	Non-controlling interests memberLonmin Canada [Member]	Non-controlling interests member	DRDGOLD Limited	Lonmin Ltd	Lonmin Canada [Member]	Total
Balance at beginning of period at Dec. 31, 2017	R 0		R 34,667	R 3,327.6	R 5.2	R (763.8)		R (13,257.6)			R 23,978.4				R 19.8				R 23,998.2
Comprehensive income					47.4	1,719.1		(2,499.6)			(733.1)				(23.5)				(756.6)
Profit/(loss) for the period								(2,499.6)			(2,499.6)				(21.1)				(2,520.7)
Other comprehensive income, net of tax					47.4	1,719.1					1,766.5				(2.4)				1,764.1
Equity-settled share-based payments				281.7							281.7								281.7
Dividends paid															(0.6)				(0.6)
Acquisition of non-controlling interest												R 940.3				R 940.3
Transaction with shareholders of subsidiary							R 261.4		R 261.4							261.4
Balance at end of period at Dec. 31, 2018	0		34,667	3,609.3	52.6	955.3		(15,495.8)			23,788.4	913.2			936				24,724.4
Comprehensive income					128.9	(594.1)		62.1			(403.1)				370				(33.1)
Profit/(loss) for the period								62.1			62.1				370.7				432.8
Other comprehensive income, net of tax					128.9	(594.1)					(465.2)				(0.7)				(465.9)
Equity-settled share-based payments				290.3							290.3								290.3
Dividends paid															(85)				(85)
Shares issued for cash			1,688.4								1,688.4								1,688.4
Shares issued in acquisition		R 4,306.6	4,306.6							R 4,306.6							R 4,306.6
Acquisition of non-controlling interest													R 247				R 247
Transaction with shareholders of subsidiary												(0.3)				R (0.3)
Balance at end of period at Dec. 31, 2019	0		40,662	3,899.6	181.5	361.2		(15,433.7)			29,670.6	1,135.2			1,467.7				31,138.3
Comprehensive income					201.8	(2,226.7)		29,311.9			27,287				1,328.8				28,615.8
Profit/(loss) for the period								29,311.9			29,311.9				1,309.7				30,621.6
Other comprehensive income, net of tax					201.8	(2,226.7)					(2,024.9)				19.1				(2,005.8)
Equity-settled share-based payments				151.7							151.7				6.3				158
Dividends paid								(1,338.1)			(1,338.1)				(360.3)				(1,698.4)
Reorganisation	17,660.7		(17,660.7)
Shares issued upon conversion of convertible bond	12,573.2										12,573.2								12,573.2
Share buy-back	(84.1)										(84.1)								(84.1)
Transaction with shareholders of subsidiary							R 220		R 220			(220)		R 13.2	220			R 13.2
Balance at end of period at Dec. 31, 2020	R 30,149.8		R 23,001.3	R 4,051.3	R 383.3	R (1,865.5)		R 12,760.1			R 68,480.3	R 1,223.8			R 2,235.7				R 70,716

Condensed consolidated statem_3

Condensed consolidated statement of cash flows R in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)R / $	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)
Cash flows from operating activities
Cash generated by operations	R 45,185.5	R 10,565.9	R 8,709
Deferred revenue advance received	770.6	2,859.3	6,555.4
BTT early settlement payment	(787.1)
Amount received on settlement of dispute	580
Post-retirement health care payments	(1.3)	(6.1)	(6.6)
Cash-settled share-based payments paid	(274.5)	(90.9)	(21.7)
Change in working capital	(9,435.1)	(625.6)	(1,070)
Total cash generated by operations	36,038.1	12,702.6	14,166.1
Interest received	719.6	268.4	194.7
Interest paid	(1,385.4)	(1,603.1)	(1,620.8)
Royalties paid	(1,706.6)	(411.5)	(234.4)
Tax (paid)/refund received	(4,818)	(1,407.4)	(307.8)
Dividends paid	(1,698.4)	(85)	(0.6)
Net cash from operating activities	27,149.3	9,464	12,197.2
Cash flows from investing activities
Additions to property, plant and equipment	(9,615.6)	(7,705.9)	(7,080.7)
Proceeds on disposal of property, plant and equipment	101.3	101	81.9
Acquisition of subsidiaries		(129)
Cash acquired on acquisition of subsidiaries		3,004.3	282.8
Proceeds with transfer of assets to joint operation		30.6
Dividends received	287.7	111	125.2
Additions to other investments	(12.1)
Contributions to environmental rehabilitation funds	(63.6)	(12.9)	(95.3)
Payment of Deferred Payment	(756.2)	(283.4)	(38.6)
Loan advanced to equity-accounted investee			(3.1)
Payments to dissenting shareholders		(319.4)	(1,375.8)
Proceeds on loss of control of subsidiaries			256.1
Preference shares redeemed by equity-accounted investee	114.3	186.9	102.8
Proceeds on disposal of marketable securities investments			1.2
Receipts from environmental rehabilitation fund	7.4	151.9
Net cash from/(used in) investing activities	(9,936.8)	(4,864.9)	(7,743.5)
Cash flows from financing activities
Loans raised	16,289.2	18,981.7	17,130.2
Loans repaid	(18,335.1)	(22,008.3)	(21,231.5)
Lease payments	(113.8)	(131.7)
Proceeds from share issue		1,688.4
Share buy-back	(84.1)
Net cash from/(used in) financing activities	(2,243.8)	(1,469.9)	(4,101.3)
Net increase/(decrease) in cash and cash equivalents	14,968.7	3,129.2	352.4
Effect of exchange rate fluctuations on cash held	(347.9)	(59.3)	134.3
Cash and cash equivalents at beginning of the period	5,619	2,549.1	2,062.4
Cash and cash equivalents at end of the period	R 20,239.8	R 5,619	R 2,549.1
Average R/US$ rate | R / $	16.46

ACCOUNTING POLICIES

ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Basis of accounting and preparation
ACCOUNTING POLICIES	1. Accounting The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. Where an accounting policy is specific to a note, the policy is described in the note which it relates to. These policies have been consistently applied to all the periods presented, except for IFRS 16 Leases (IFRS 16), which was applied from 1 January 2019 and therefore does not apply to the 2018 comparative period presented. 1.1 Reporting entity Sibanye Stillwater Limited (the Company) and its subsidiaries (together referred to as the Group or Sibanye-Stillwater), an independent, global, precious metals mining company, produces a mix of metals that includes gold and platinum group metals (PGM). Domiciled in South Africa, Sibanye-Stillwater currently owns and operates a portfolio of high-quality operations and projects, which are grouped into two regions: the Southern Africa (SA) region and the United States (US) region. On 4 October 2019 Sibanye Gold Limited (SGL) and the Company, a previously dormant wholly owned subsidiary of SGL, announced the intention to implement a scheme of arrangement to reorganise SGL’s operations under a new parent company, the Company (the “Scheme”). The Scheme was implemented through the issue of the Company’s shares (tickers: JSE – SSW and NYSE – SBSW) in exchange for the existing shares of SGL (previous tickers: JSE – SGL and NYSE – SBGL). On 23 January 2020 SGL and Sibanye-Stillwater announced that all resolutions for the approval of the Scheme, were passed by the requisite majority votes at the Scheme meeting held at the SGL Academy. The Scheme was implemented on 24 February 2020. For more information relating to the accounting treatment of the Scheme, refer note 26. The SA region houses the gold and PGM operations and projects located in South Africa and Zimbabwe. The underground and surface gold mining operations in South Africa are the Driefontein and Kloof operations in the West Witwatersrand (West Wits) region and DRDGOLD Limited (DRDGOLD) with surface tailings treatment plant in the East of Johannesburg in Gauteng, and the Beatrix operation in the southern Free State. Sibanye-Stillwater also owns and manages significant gold extraction and processing facilities where ore is treated and beneficiated to produce gold doré. In addition, several organic projects currently underway are aimed at sustaining these gold mining operations into the long term. The PGM assets in the SA region are Kroondal (50%), the Rustenburg operation, the Marikana operation (Marikana) and the tailings retreatment entity, Platinum Mile (91.7%) in North West Province, and Mimosa (50%) in Zimbabwe. Marikana currently has five contributing shafts namely 4Belt, K3, Rowland, Saffy and E3 and the ore mined at the Marikana operations is processed through five concentrators on site. The PGM concentrate produced is dispatched to the smelter for further processing at the Base Metal Refinery (BMR). At the BMR, base metals are removed and the resulting PGM-rich residue is sent to Precious Metal Refinery (PMR) for final treatment. The US region houses the PGM operations and projects located in the US, Canada and Argentina. These include the East Boulder and Stillwater mining operations and the Blitz project in Montana, in the US, and exploration-stage projects, Altar (joint venture) in Argentina and Marathon (joint operation), a PGM-copper porphyry in Ontario, Canada. The assets in this region also include the Metallurgical complex in Columbus, Montana. This complex houses the smelter, base metal refinery and an analytical laboratory which produces a PGM-rich filter cake that is further refined by a third-party precious metal refinery. These processing and metallurgical facilities are also used to process recycled material such as spent autocatalytic convertors and petroleum refinery catalysts. 1.2 Basis of preparation The consolidated financial statements for the year ended 31 December 2020 have been prepared on a going concern basis in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, the South African Institute of Chartered Accountants Financial Reporting Guides issued by the Accounting Practices Committee and Financial Reporting Pronouncements issued by the Financial Reporting Standards Council, as well as the requirements of the South African Companies Act and JSE Listings Requirements. The consolidated financial statements have been prepared under the historical cost convention, except for certain financial assets and financial liabilities (including derivative instruments) which are measured at fair value through profit or loss or other comprehensive income. Standards, interpretations and amendments to published standards effective for the year ended 31 December 2020 During the financial year, the following new and revised accounting standards and amendments to standards applicable to the Group, became effective and had no material impact on the Group’s financial statements: Pronouncement Details of amendments Effective date 1 IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (Amendments) The amendments clarify and align the definition of ‘material’ and provide guidance to help improve consistency in the application of that concept whenever it is used in IFRS. 1 January 2020 IFRS 3 Business Combinations (IFRS 3) (Amendment) The IASB issued amendments to the definition of a business in IFRS 3 to help entities determine whether an acquired set of activities and assets is a business or not. 1 January 2020 The revised Conceptual Framework for Financial Reporting The Conceptual Framework is to assist the International Accounting Standards Board (IASB) in developing standards, to help preparers develop consistent accounting policies if there is no applicable standard in place and to assist all parties to understand and interpret the standards. Key changes include: · increasing the prominence of stewardship in the objective of financial reporting; · defining a reporting entity, which may be a legal entity, or a portion of an entity; · revising the definitions of an asset and a liability; · removing the probability threshold for recognition and adding guidance on derecognition; · adding guidance on different measurement basis; and · stating that profit or loss is the primary performance indicator and that, in principle, income and expenses in other comprehensive income should be recycled where this enhances the relevance or faithful representation of the financial statements. No changes will be made to any of the current accounting standards. 1 January 2020 1 Effective date refers to annual period beginning on or after said date Standards, interpretations and amendments to published standards which are not yet effective Certain new standards, amendments and interpretations to existing standards have been published that apply to the accounting periods beginning on or after 1 January 2021 but have not been early adopted by the Group. The standards, amendments and interpretations that are applicable to the Group are: Pronouncement Details of amendments Effective date 1 COVID-19-Related Rent Concessions (Amendment to IFRS 16) 2 In response to the COVID-19 coronavirus pandemic, the IASB has issued amendments to IFRS 16 to allow lessees not to account for rent concessions as lease modifications if they are a direct consequence of COVID-19 and meet certain conditions. Rent concessions included in the ambit of the amendment might take a variety of forms, including payment holidays and deferral of lease payments. In many cases, this will result in accounting for the concessions as variable lease payments in the period in which they are granted. The Group did not receive any material rent concessions as a direct result of COVID-19. 1 June 2020 Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 2 Interbank offered rates (IBOR) reform refers to the global reform of interest rate benchmarks, which includes the replacement of some interbank offered rates with alternative benchmark rates. Under the detailed rules of IFRS 9 Financial Instruments (IFRS 9), modifying a financial contract can require recognition of a significant gain or loss in the income statement. However, the amendments introduce a practical expedient if a change results directly from IBOR reform and occurs on an ‘economically equivalent’ basis. In these cases, changes will be accounted for by updating the effective interest rate. A similar practical expedient will apply under IFRS 16 for lessees when accounting for lease modifications required by IBOR reform. IBOR reform will generally result in a change in the basis for determining the contractual cash flows of that financial asset or financial liability. The Group will assess the impact on the balances and cash flows linked to rates changes arising from IBOR reform when more information is available on the quoted rates that will replace the current IBOR. The potential impact arising from these amendments was not yet known at the reporting date. 1 January 2021 Annual Improvements to IFRS Standards 2018-2020 2 As part of its process to make non-urgent but necessary amendments to IFRS Standards, the IASB has issued the Annual Improvements to IFRS Standards 2018–2020. The amendments applicable to the Group relate to: · IFRS 9 - clarifies which fees should be included in the 10% test for derecognition of financial liabilities; and · IFRS 16 - amendment of illustrative example 13 to remove the illustration of payments from the lessor relating to leasehold improvements, to remove any confusion about the treatment of lease incentives. 1 January 2022 Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) In the process of making an item of property, plant or equipment (PPE) available for its intended use, an entity may produce and sell items. Under the amendments, proceeds from selling items before the related item of PPE is available for use should be recognised in profit or loss, together with the costs of producing those items. IAS 2 Inventories should be applied in identifying and measuring these production costs. The Group is currently in the process of assessing the potential impact of this amendment. 1 January 2022 Onerous Contracts – Cost of Fulfilling a Contract Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets (IAS 37) The amendment to IAS 37 clarifies that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts. Before recognising a separate provision for an onerous contract, the entity recognises any impairment loss that has occurred on assets used in fulfilling the contract. The Group is currently in the process of assessing the potential impact of this amendment. 1 January 2022 Reference to the Conceptual Framework – Amendments to IFRS 3 2 Minor amendments were made to IFRS 3 to update the references to the Conceptual Framework for Financial Reporting and add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 and IFRIC 21 Levies . The amendments also confirm that contingent assets should not be recognised at the acquisition date. 1 January 2022 Classification of Liabilities as Current or Non-current (Amendments to IAS 1) 2 To promote consistency in application and clarify the requirements on determining if a liability is current or non-current, the IASB has amended IAS 1 to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. Classification is unaffected by the expectations of the entity or events after the reporting date (e.g. the receipt of a waiver or a breach of covenant). The amendments also clarify what IAS 1 means when it refers to the “settlement” of a liability. 1 January 2023 1 Effective date refers to annual period beginning on or after said date 2 No material impact expected Significant accounting judgements and estimates The preparation of the financial statements requires the Group’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The determination of estimates requires the exercise of judgement based on various assumptions and other factors such as historical experience, current and expected economic conditions, and in some cases valuation techniques. Actual results could differ from those estimates. For significant accounting policies that are subject to significant judgement, estimates and assumptions, see the following notes to the consolidated financial statements: Significant accounting policy Note to the consolidated financial statements Revenue 3 – Revenue Royalties, mining and income tax, and deferred tax 11 – Royalties, mining and income tax, and deferred tax Property, plant and equipment 14 – Property, plant and equipment Business combinations 16 – Acquisitions Goodwill 17 – Goodwill Equity-accounted investments 18 – Equity-accounted investments Other receivables and other payables 22 – Other receivables and other payables Inventories 23 – Inventories Borrowings and derivative financial instrument 28 – Borrowings and derivative financial instrument Environmental rehabilitation obligation 30 – Environmental rehabilitation obligation and other provisions Occupational healthcare obligation 31 – Occupational healthcare obligation Deferred revenue 32 – Deferred revenue Contingent liabilities 38 – Contingent liabilities Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the financial period are discussed under the relevant note of the item affected. 1.3 Consolidation 1 The non-controlling interests (NCI) in the statement of changes in equity relates to the attributable share of accumulated profits of DRDGOLD, Goldfields Technical Security Management Proprietary Limited (GTSM), Platinum Mile Resources Proprietary Limited (Platinum Mile), Western Platinum Proprietary Limited (WPL) and all WPL subsidiaries, Eastern Platinum Limited (EPL) and Akanani Mining Proprietary Limited (Akanani) (refer note 27) 2 Witwatersrand Consolidated Gold Resources Proprietary Limited (Wits Gold) has ceded and pledged its shares in K2013164354 Proprietary Limited (K2013) (a dormant entity) and K2013 has ceded and pledged it shares in Sibanye Gold Eastern Operations Proprietary Limited (SGEO) in favour of the lenders of the Burnstone Debt (refer note 28.6) 3 Rand Uranium Proprietary Limited (Rand Uranium) and Ezulwini Mining Company Proprietary Limited (Ezulwini) together own a number of underground and surface mining operations. These operations report to the Group’s chief operating decision maker (the Executive Committee) as a separate segment, namely Cooke 4 In terms of the Rustenburg operation transaction, a 26% stake in Sibanye Rustenburg Platinum Mines Proprietary Limited (SRPM) was acquired through Newshelf 1335 Proprietary Limited (BBBEE SPV). The shareholders of BBBEE SPV are Rustenburg Mine Employees Trust (30.4%), Rustenburg Mine Community Development Trust (24.8%), Bakgatla-Ba-Kgafela Investment Holdings (24.8%) and Siyanda Resources Proprietary Limited (20.0%). The Rustenburg Mine Employees Trust and the Rustenburg Mine Community Development Trust are controlled and consolidated by Sibanye-Stillwater 5 The Group has no current or contractual obligation to provide financial support to any of its structured entities 6 Sibanye-Stillwater recognises a 6.87% non-controlling interest in Akanani. The effective “outside” shareholding is calculated by considering the indirect interests held by Rustenburg Eastern Operations Proprietary Limited (6.13%) and the Phembani Group (13.01%) through Incwala Resources Proprietary Limited. However, since the Phembani Group secured its shareholding with a loan payable to Lonmin Limited (previously Lonmin Plc) (Lonmin) which has subsequently been impaired, the accounting beneficial interest of the Phembani Group is considered to be zero 7 Sibanye-Stillwater recognises 4.75% non-controlling interests in WPL and EPL. The shareholding of Lonplats Siyakhula employee profit share trust (3.8%), Marikana Community Trust (0.9%) and Bapo Ba Mogale Community Trust (0.9%) is not considered since these trusts are controlled and consolidated by Sibanye-Stillwater. The Phembani Group (9.01%) and Rustenburg Eastern Operations Proprietary Limited (4.24%) also holds an indirect interest through Incwala Platinum Proprietary Limited. However, since the Phembani Group secured its shareholding with a loan payable to Lonmin Limited which has subsequently been impaired, the accounting beneficial interest of the Phembani Group is considered to be zero 8 Effective 10 January 2020, the Group exercised its option to acquire an additional 12.05% in DRDGOLD. The consideration amounted to R1,085.6 million for the subscription of 168,158,944 additional new ordinary shares resulting in a 50.1% shareholding in DRDGOLD Limited (effective 50.66% after considering treasury shares held by DRDGOLD) (refer note 27). The Group calculated the net asset value of DRDGOLD at the effective date to which the additional ownership percentage was applied to determine the reattribution between non-controlling interest and the Group 9 On 17 June 2020, the Company and SGL entered into an unbundling agreement wherein SGL unbundled its entire shareholding in Sibanye Platinum Proprietary Limited (SPPL) for no value to the Company 10 During the year, the Group reorganised its internal legal structure to house the Marikana PGM related companies (previously owned by LSA UK Limited) under a new intermediate holding company, being Rustenburg Eastern Operations Proprietary Limited, which is a wholly owned subsidiary of SPPL. The reorganisation had no impact to the consolidated financial statements of the Group 11 At 31 December 2020, the Group had a 100% legal interest in Peregrine Metals Limited (Peregrine), which is subject to an Initial Earn-in arrangement of 60% by Aldebaran Resources Inc. (Aldebaran) (refer note 18.3) 12 The Group has a 76% legal interest in the Newshelf 1114 Propietary Limited (Newshelf 1114) group and the NCI can acquire a further 2% legal shareholding once they have implemented the necessary funding structure. However, no accounting NCI is recognised, since the NCI’s vendor loan financing exceeds their proportionate interest in Newshelf 1114 and therefore no effective shareholding exists Subsidiaries Subsidiaries are all entities over which the Group exercises control. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is obtained by the Group until the date on which control ceases. Control is reassessed if facts and circumstances indicate that there are changes to one or more of the elements of control. Inter-company transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Transactions with shareholders Transactions with owners in the capacity as equity participants are not recognised in profit or loss, but instead are recognised in equity with a corresponding change in assets or liabilities. Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary are equity transactions. 1.4 Foreign currencies Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in South African rand, which is the Group’s presentation currency. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities are translated into the functional currency at each reporting date . Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies, are recognised in profit or loss. Foreign operations The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows:  Assets and liabilities are translated at the exchange rate ruling at the reporting date. Equity items are translated at historical rates. The income and expenses are translated at the average exchange rate for the year, unless this average was not a reasonable approximation of the rates prevailing on the transaction dates, in which case these items were translated at the rate prevailing on the date of the transaction. Exchange differences on translation are accounted for in other comprehensive income. These differences will be recognised in profit or loss upon realisation of the underlying operation.  Exchange differences arising from the translation of the net investment in foreign operations, which includes certain long-term borrowings (i.e. the reporting entity’s interest in the net assets of that operation), are taken to other comprehensive income. When a foreign operation is sold, exchange differences that were recorded in other comprehensive income are recognised in profit or loss as part of the gain or loss on disposal. If the Group disposes of part of its interest in a subsidiary but retains control, then the relevant proportion of the cumulative amount is reattributed to non-controlling interests. When the Group disposes of only part of an associate or joint venture while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. If a company in the Group repays a portion of long-term borrowings forming part of a net investment in foreign operations, amounts previously recorded in other comprehensive income are only recognised in profit or loss upon disposal of the relevant operation.  Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and are translated at each reporting date at the closing rate. 1.5 Comparatives Where necessary, comparative periods have been revised to conform to current period changes in presentation. These revisions include:  Retrospective change to the segment reporting to align the classification of finance cost on the Wheaton Stream and corporate transaction costs in line with management’s reporting to the chief operating decision maker (refer note 2)  Disaggregation relating to the adjustments relating to sales of PGM concentrate and a change in the information provided on the graphical presentation of the revenue (refer note 3)  Disaggregation of the redeemable preference shares below 44.4% interest to separately disclose the portion specific to DRDGOLD consolidation adjustments within other reconciling items (refer note 18.1)  Disaggregation of the attributable income and royalty tax for Mimosa (refer note 18.2) Additional disclosures were made for the 2020 and comparative periods not previously presented. These revisions include:  Adjustments to Consolidated Statement of Changes in Equity and related notes due to the accounting for the scheme of arrangement (refer note 1.1 and note 26)  Disclosures relating to interest income (refer note 5.1), other costs (refer note 8.1) and other income (refer note 8.2)  Disclosure relating to the aggregate amount of temporary differences associated with investments in subsidiaries, for which no deferred tax liabilities have been recognised (refer note 11.3)  Disclosures relating to the effective holding interest in DRDGOLD (refer note 27)  Disclosure relating to total key management personnel compensation recognised under IFRS (refer note 39)

Segment reporting

Segment reporting	12 Months Ended
	Dec. 31, 2020
Segment reporting
SEGMENT REPORTING	2. Segment reporting Accounting policy Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker and is based on individual mining operations. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the executive management team that makes strategic decisions. Figures in million - SA rand Group Total SA Total Rusten- Marikana Kroondal Platinum Mimosa Corporate 1 Total Drie-fontein Kloof Beatrix Cooke DRD-GOLD Corporate 1 Group 1 2020 Revenue 127,392.4 45,154.1 82,781.4 54,912.6 20,428.7 26,864.8 7,972.8 950.3 3,894.5 (5,198.5) 27,868.8 6,793.5 9,795.0 4,663.8 1,039.6 5,051.0 525.9 (543.1) Underground 91,369.9 19,857.6 72,055.4 52,142.3 18,521.1 26,864.8 7,972.8 - 3,894.5 (5,110.9) 19,913.1 6,793.5 8,109.4 4,499.8 - - 510.4 (543.1) Surface 10,726.0 - 10,726.0 2,770.3 1,907.6 - - 950.3 - (87.6) 7,955.7 - 1,685.6 164.0 1,039.6 5,051.0 15.5 - Recycling 25,296.5 25,296.5 - - - - - - - - - - - - - - - - Cost of sales, before amortisation and depreciation (75,776.4) (32,003.4) (43,773.0) (24,722.6) (9,588.7) (13,232.0) (2,803.3) (402.6) (1,601.1) 2,905.1 (19,050.4) (4,863.6) (6,879.6) (3,713.8) (671.0) (2,922.4) - - Underground (45,502.4) (7,585.9) (37,916.5) (23,551.2) (8,732.3) (13,232.0) (2,803.3) - (1,601.1) 2,817.5 (14,365.3) (4,863.6) (5,885.6) (3,616.3) 0.2 - - - Surface (5,856.5) - (5,856.5) (1,171.4) (856.4) - - (402.6) - 87.6 (4,685.1) - (994.0) (97.5) (671.2) (2,922.4) - - Recycling (24,417.5) (24,417.5) - - - - - - - - - - - - - - - - Net other cash costs 2 (2,231.1) (67.5) (2,163.6) (1,115.5) 50.9 (789.4) (76.0) (240.5) (58.6) (1.9) (1,048.1) (65.6) (104.3) (97.0) (641.7) (43.7) (95.8) - Adjusted EBITDA 49,384.9 13,083.2 36,844.8 29,074.5 10,890.9 12,843.4 5,093.5 307.2 2,234.8 (2,295.3) 7,770.3 1,864.3 2,811.1 853.0 (273.1) 2,084.9 430.1 (543.1) Amortisation and depreciation (7,592.4) (2,727.5) (4,864.9) (2,072.4) (806.1) (818.4) (409.9) (33.9) (281.5) 277.4 (2,792.5) (932.1) (1,092.1) (490.5) (13.6) (202.4) (61.8) - Interest income 1,065.4 278.6 786.8 222.1 27.3 106.5 84.0 2.8 4.0 (2.5) 564.7 67.3 58.6 35.6 45.4 178.2 179.6 - Finance expense (3,151.8) (1,057.3) (1,772.4) (661.8) (2,841.2) (258.8) (136.5) - (14.0) 2,588.7 (1,110.6) (156.4) (150.5) (107.1) (100.4) (57.9) (538.3) (322.1) Share-based payments (512.4) (80.2) (432.2) (90.1) (36.0) (41.1) (13.0) - - - (342.1) (21.8) (25.9) (18.6) - (140.6) (135.2) - Net other 3 (393.6) 31.4 (425.0) 1,223.6 (3,846.7) 2,131.5 121.8 (14.0) (16.2) 2,847.2 (1,648.6) 19.5 30.0 27.9 35.9 30.4 (1,792.3) - Non-underlying items 4 (1,550.1) (92.5) (1,385.3) 149.0 590.8 (434.8) (7.0) - - - (1,534.3) (27.3) (18.3) (40.3) (3.6) (1.6) (1,443.2) (72.3) Royalties and carbon tax (1,770.2) - (1,770.2) (1,625.4) (924.2) (691.5) (9.8) - (135.2) 135.3 (144.8) (72.9) (114.8) (46.1) (5.2) (0.3) 94.5 - Current taxation (5,374.3) (976.4) (4,352.8) (3,860.3) (2,634.9) 92.3 (1,299.7) (14.8) (450.3) 447.1 (492.5) (9.4) 9.2 (5.0) - (491.6) 4.3 (45.1) Deferred taxation 516.1 (681.5) 1,197.6 957.6 98.1 951.0 (34.1) (58.4) (41.9) 42.9 240.0 (232.9) (322.3) (88.7) - (97.0) 980.9 - Profit/(loss) for the year 30,621.6 7,777.8 23,826.4 23,316.8 518.0 13,880.1 3,389.3 188.9 1,299.7 4,040.8 509.6 498.3 1,185.0 120.2 (314.6) 1,302.1 (2,281.4) (982.6) Attributable to: Owners of the parent 29,311.9 7,777.8 22,516.7 22,650.9 518.0 13,229.6 3,389.3 173.3 1,299.7 4,041.0 (134.2) 498.3 1,185.0 120.2 (314.6) 659.4 (2,282.5) (982.6) Non-controlling interest holders 1,309.7 - 1,309.7 665.9 - 650.5 - 15.6 - (0.2) 643.8 - - - - 642.7 1.1 - Sustaining capital expenditure (2,816.7) (798.1) (2,018.6) (1,052.1) (325.6) (515.2) (187.8) (23.3) (413.9) 413.7 (966.5) (186.5) (392.0) (93.1) - (294.9) - - Ore reserve development (4,150.2) (1,239.2) (2,911.0) (1,124.8) (417.0) (707.8) - - - - (1,786.2) (742.3) (722.2) (321.7) - - - - Growth projects (2,648.5) (2,384.9) (263.6) (19.7) - - - (19.7) - - (243.9) - (155.4) (0.2) - (46.2) (42.1) - Total capital expenditure 5 (9,615.4) (4,422.2) (5,193.2) (2,196.6) (742.6) (1,223.0) (187.8) (43.0) (413.9) 413.7 (2,996.6) (928.8) (1,269.6) (415.0) - (341.1) (42.1) - 1 Corporate and reconciling items represent the items to reconcile segment data to consolidated financial statement totals. This does not represent a separate segment as it does not generate mining revenue. Group corporate includes the Wheaton Stream transaction and corporate transaction costs 2 Net other cash costs consist of service entity income, sundry income (refer note 8.2) and other costs as detailed in profit or loss, excluding loss due to dilution of interest in joint operation (refer note 8.1). Lease payments (R147.7 million) are included in net other cash costs to conform with the adjusted EBITDA reconciliation disclosed in note 28.9 3 Net other consists of loss on financial instruments, loss on foreign exchange differences, change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1) as detailed in profit or loss and the add back of the lease payment referred to in footnote 2 above. Corporate and reconciling items net other includes the share of results of equity-accounted investees after tax as detailed in profit or loss 4 Non-underlying items consists of gain on disposal of property, plant and equipment, impairments, loss on BTT early settlement, restructuring costs, transaction costs, loss on settlement of US$ Convertible Bond, income on settlement of legal dispute (refer note 8.2), non-cash loss with dilution of interest in joint operation (refer note 8.1) and occupational healthcare expense as detailed in profit or loss 5 Included in the amount is capital expenditure of R3.4 million relating to recycling activities at the US PGM operations Figures in million - SA rand Group US PGM Total SA Total Rusten- Marikana 1 Kroondal Platinum Mimosa Corporate 2 Total Drie-fontein Kloof Beatrix Cooke DRD-GOLD Corporate 2 Group 2019 Revenue 72,925.4 26,864.5 46,222.6 27,578.4 10,499.5 11,187.9 5,590.4 300.6 2,342.6 (2,342.6) 18,644.2 3,303.1 6,808.5 3,798.2 828.4 3,621.0 285.0 (161.7) Underground 51,528.2 12,343.3 39,346.6 26,616.5 9,901.1 11,125.0 5,590.4 - 2,342.6 (2,342.6) 12,730.1 3,301.4 5,552.4 3,576.9 21.2 - 278.2 (161.7) Surface 6,876.0 - 6,876.0 961.9 598.4 62.9 - 300.6 - - 5,914.1 1.7 1,256.1 221.3 807.2 3,621.0 6.8 - Recycling 14,521.2 14,521.2 - - - - - - - - - - - - - - - - Cost of sales, before amortisation and depreciation (56,100.4) (19,569.4) (36,531.0) (18,196.7) (6,466.9) (8,439.9) (3,076.3) (213.6) (1,336.3) 1,336.3 (18,334.3) (4,438.6) (6,872.9) (3,669.2) (617.3) (2,736.3) - - Underground (36,520.3) (5,600.8) (30,919.5) (17,207.9) (5,691.7) (8,439.9) (3,076.3) - (1,336.3) 1,336.3 (13,711.6) (4,428.6) (5,741.1) (3,525.3) (16.6) - - - Surface (5,611.5) - (5,611.5) (988.8) (775.2) - - (213.6) - - (4,622.7) (10.0) (1,131.8) (143.9) (600.7) (2,736.3) - - Recycling (13,968.6) (13,968.6) - - - - - - - - - - - - - - - - Net other cash costs 3 (1,869.0) (4.2) (1,864.8) (585.5) (156.1) (299.9) (103.4) (25.3) (8.0) 7.2 (1,279.3) (197.6) (152.7) (179.8) (568.6) (30.7) (149.9) - Adjusted EBITDA 14,956.0 7,290.9 7,826.8 8,796.2 3,876.5 2,448.1 2,410.7 61.7 998.3 (999.1) (969.4) (1,333.1) (217.1) (50.8) (357.5) 854.0 135.1 (161.7) Amortisation and depreciation (7,214.1) (2,285.6) (4,928.5) (1,919.0) (914.4) (500.4) (494.8) (4.8) (218.7) 214.1 (3,009.5) (920.5) (1,200.9) (640.0) (15.1) (172.1) (60.9) - Interest income 560.4 145.2 415.2 145.8 44.6 30.9 67.1 1.3 2.2 (0.3) 269.4 60.1 53.0 31.4 39.8 64.5 20.6 - Finance expense (3,302.5) (920.7) (2,071.0) (704.2) (1,407.5) (282.4) (146.9) - (21.8) 1,154.4 (1,366.8) (242.8) (242.9) (141.1) (73.7) (73.0) (593.3) (310.8) Share-based payments (363.3) (53.4) (309.9) - - - - - - - (309.9) - - - - (64.2) (245.7) - Net other 4 (4,925.8) 8.3 (4,934.1) (1,513.2) (11,381.8) 12.9 (0.3) 1.1 (137.2) 9,992.1 (3,420.9) 17.5 31.0 13.4 (113.9) 81.6 (3,450.5) - Non-underlying items 5 (567.0) (74.6) (123.4) 258.8 2.4 212.7 44.8 - (27.5) 26.4 (382.2) (169.5) (35.1) (112.4) (6.9) 4.3 (62.6) (369.0) Royalties and carbon tax (443.9) - (443.9) (358.2) (296.1) (54.5) (7.6) - (77.1) 77.1 (85.7) (16.6) (34.2) (30.8) (4.1) - - - Current taxation (1,848.7) (481.3) (1,367.4) (1,303.7) (780.3) 13.3 (536.0) - (135.5) 134.8 (63.7) (22.7) (5.5) (13.3) - (69.1) 46.9 - Deferred taxation 3,581.7 1,436.3 2,145.4 14.1 30.0 - (0.7) (16.5) (5.6) 6.9 2,131.3 74.8 150.4 89.9 - (129.9) 1,946.1 - Profit/(loss) for the year 432.8 5,065.1 (3,790.8) 3,416.6 (10,826.6) 1,880.6 1,336.3 42.8 377.1 10,606.4 (7,207.4) (2,552.8) (1,501.3) (853.7) (531.4) 496.1 (2,264.3) (841.5) Attributable to: Owners of the parent 62.1 5,065.1 (4,161.5) 3,355.0 (10,826.6) 1,821.6 1,336.3 39.3 377.1 10,607.3 (7,516.5) (2,552.8) (1,501.3) (853.7) (531.4) 188.7 (2,266.0) (841.5) Non-controlling interest holders 370.7 - 370.7 61.6 - 59.0 - 3.5 - (0.9) 309.1 - - - - 307.4 1.7 - Sustaining capital expenditure (2,039.3) (321.7) (1,717.6) (1,203.2) (316.3) (660.4) (212.8) (13.3) (343.1) 342.7 (514.4) (163.0) (238.1) (70.5) - (42.8) - - Ore reserve development (3,401.9) (1,036.2) (2,365.7) (1,029.2) (500.6) (528.6) - - - - (1,336.5) (512.9) (590.4) (233.2) - - - - Growth projects (2,264.9) (2,035.0) (229.9) (15.2) (1.8) - - (13.4) - - (214.7) - (108.9) (2.1) - (39.0) (64.7) - Total capital expenditure (7,706.1) (3,392.9) (4,313.2) (2,247.6) (818.7) (1,189.0) (212.8) (26.7) (343.1) 342.7 (2,065.6) (675.9) (937.4) (305.8) - (81.8) (64.7) - 1 The SA PGM operations’ results for the year ended 31 December 2019 include Marikana for the seven months since acquisition (refer to note 16.1) 2 Corporate and reconciling items represent the items to reconcile segment data to consolidated financial statement totals. This does not represent a separate segment as it does not generate mining revenue. Group corporate includes the Wheaton Stream transaction and corporate transaction costs. To align the classification of finance cost on the Wheaton Stream as well as corporate transaction costs between reporting periods, a reclassification between Gold Corporate and Group corporate was made 3 Net other cash costs consist of other costs and other income as detailed in profit or loss, excluding change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1). Lease payments (R131.7 million) are included in net other cash costs to conform with the adjusted EBITDA reconciliation disclosed in note 28.9 4 Net other consists of loss on financial instruments, gain on foreign exchange differences, change in estimate of environmental rehabilitation obligation, right of recovery receivable and payable (refer note 8.1) as detailed in profit or loss and the add back of the lease payment referred to in footnote 3 above. Corporate and reconciling items net other includes the share of results of equity-accounted investees after tax as detailed in profit or loss 5 Non-underlying items consists of gain on disposal of property, plant and equipment, impairments, gain on acquisition, occupational healthcare expense, restructuring costs and transaction costs as detailed in profit or loss Figures in million - SA rand Group US PGM Total SA Total Kroondal Platinum Mimosa Rusten- Corporate 2 Total Drie-fontein Kloof Beatrix Cooke DRD-GOLD 1 Corporate 2 Group 2 2018 Revenue 50,656.4 15,872.8 34,810.3 15,153.6 3,584.4 196.7 1,857.5 11,372.5 (1,857.5) 19,656.7 5,111.2 8,131.7 4,601.3 841.8 1,047.5 (76.8) (26.7) Underground 38,605.7 8,430.1 30,202.3 14,045.1 3,584.4 - 1,857.5 10,460.7 (1,857.5) 16,157.2 4,782.4 6,937.9 4,467.8 45.9 - (76.8) (26.7) Surface 4,608.0 - 4,608.0 1,108.5 - 196.7 - 911.8 - 3,499.5 328.8 1,193.8 133.5 795.9 1,047.5 - - Recycling 7,442.7 7,442.7 - - - - - - - - - - - - - - - Cost of sales, before amortisation and depreciation (41,515.2) (11,720.9) (29,794.3) (12,096.0) (2,739.4) (152.7) (1,235.7) (9,203.9) 1,235.7 (17,698.3) (5,709.3) (6,364.8) (3,910.8) (693.4) (1,020.0) - - Underground (30,248.7) (4,524.4) (25,724.3) (11,131.4) (2,739.4) - (1,235.7) (8,392.0) 1,235.7 (14,592.9) (5,386.7) (5,352.2) (3,841.0) (13.0) - - - Surface (4,070.0) - (4,070.0) (964.6) - (152.7) - (811.9) - (3,105.4) (322.6) (1,012.6) (69.8) (680.4) (1,020.0) - - Recycling (7,196.5) (7,196.5) - - - - - - - - - - - - - - - Net other cash costs 3 (771.8) - (771.8) (175.8) (52.7) (1.2) (6.7) (121.1) 5.9 (596.0) (50.2) (44.8) (37.2) (573.4) 8.7 100.9 - Adjusted EBITDA 8,369.4 4,151.9 4,244.2 2,881.8 792.3 42.8 615.1 2,047.5 (615.9) 1,362.4 (648.3) 1,722.1 653.3 (425.0) 36.2 24.1 (26.7) Amortisation and depreciation (6,613.8) (2,234.4) (4,379.4) (1,074.4) (370.4) (3.0) (191.6) (697.1) 187.7 (3,305.0) (1,200.9) (1,378.8) (635.3) (5.7) (57.9) (26.4) - Interest income 482.1 83.2 398.9 83.5 60.3 1.3 0.1 20.2 1.6 315.4 94.3 72.0 40.0 41.7 26.1 41.3 - Finance expense (3,134.7) (1,797.1) (1,177.3) (422.4) (130.5) - (13.0) (1,890.6) 1,611.7 (754.9) (234.9) (245.9) (143.6) (78.1) (33.0) (19.4) (160.3) Share-based payments (299.4) (35.7) (263.7) - - - - - - (263.7) (0.2) - - - (3.2) (260.3) - Net other 4 3,284.0 68.8 3,215.2 726.3 137.6 0.7 (9.2) 4,348.0 (3,750.8) 2,488.9 (362.8) (110.3) (57.8) (106.2) (419.1) 3,545.1 - Non-underlying items 5 (3,311.9) (210.7) (2,932.7) (29.7) 0.4 - - (30.7) 0.6 (2,903.0) (2,157.6) 27.2 (156.6) (50.6) (4.6) (560.8) (168.5) Royalties (212.6) - (212.6) (162.0) (5.5) - (57.6) (156.5) 57.6 (50.6) 1.4 (29.0) (18.8) (4.2) - - - Current taxation (95.3) 238.3 (333.6) (278.5) - - (103.4) (277.4) 102.3 (55.1) 63.9 (75.3) 5.5 0.8 (3.0) (47.0) - Deferred taxation (988.5) (1,795.7) 807.2 (192.6) (168.9) (9.2) (29.9) (15.5) 30.9 999.8 922.9 313.1 127.8 - (132.0) (232.0) - (Loss)/profit for the year (2,520.7) (1,531.4) (633.8) 1,532.0 315.3 32.6 210.5 3,347.9 (2,374.3) (2,165.8) (3,522.2) 295.1 (185.5) (627.3) (590.5) 2,464.6 (355.5) Attributable to: Owners of the parent (2,499.6) (1,531.4) (612.7) 1,529.3 315.3 29.9 210.5 3,347.9 (2,374.3) (2,142.0) (3,522.2) 295.1 (185.5) (627.3) (565.8) 2,463.7 (355.5) Non-controlling interest holders (21.1) - (21.1) 2.7 - 2.7 - - - (23.8) - - - - (24.7) 0.9 - Sustaining capital expenditure (1,271.2) (260.2) (1,011.0) (464.4) (141.4) (9.5) (170.9) (313.5) 170.9 (546.6) (228.1) (220.6) (82.6) - (14.5) (0.8) - Ore reserve development (3,530.4) (998.9) (2,531.5) (477.9) - - - (477.9) - (2,053.6) (817.1) (839.6) (396.9) - - - - Growth projects (2,279.2) (1,574.0) (705.2) (57.7) - (57.1) - (0.6) - (647.5) (0.4) (141.8) (1.7) - (303.3) (200.3) - Total capital expenditure (7,080.8) (2,833.1) (4,247.7) (1,000.0) (141.4) (66.6) (170.9) (792.0) 170.9 (3,247.7) (1,045.6) (1,202.0) (481.2) - (317.8) (201.1) - 1 The SA gold operations’ results of the year ended 31 December 2018 includes DRDGOLD for five months since acquisition 2 Corporate and reconciling items represent the items to reconcile segment data to consolidated financial statement totals. This does not represent a separate segment as it does not generate mining revenue. Group corporate previously included only the Wheaton Stream finance costs. To align the classification of corporate transaction costs between reporting periods, a reclassification between Gold Corporate and Group corporate was made 3 Net other cash costs consist of other costs and other income as detailed in profit or loss, excluding change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1) 4 Net other costs consists of gain on financial instruments, gain on foreign exchange differences, change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1). Corporate and reconciling items net other costs includes the share of results of equity-accounted investees after tax as detailed in profit or loss 5 Non-underlying items consists of gain on disposal of property, plant and equipment, impairments, gain on derecognition of borrowings and derivative financial instrument, occupational healthcare expense, restructuring costs, and transaction costs as detailed in profit or loss

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2020
REVENUE.
REVENUE	3. Revenue Significant accounting judgements and estimates Revenue from PGM mining activities The determination of PGM concentrate sales revenue from the time of initial recognition of the sale on a provisional basis through to final pricing requires management to continuously re-estimate the fair value of the price adjustment features. Management determines this with reference to estimated forward prices using consensus forecasts. Accounting policy Revenue from mining activities Revenue from gold sales is measured and recognised based on the consideration specified in a contract with a customer. The Group recognises revenue from gold sales when the customer obtains control of the gold. These criteria are typically met when the gold is credited to the customer’s bullion account by Rand Refinery Proprietary Limited (Rand Refinery). The transaction price is determined based on the agreed upon market price and number of ounces delivered. Revenue from PGM concentrate and metal sales is recognised when the buyer, pursuant to a sales contract, obtains control of the mined product which is typically upon delivery. The sales price is determined on a provisional basis at the date of delivery. Adjustments to the selling price occur based on changes in the metal content quantities and penalties, which represents variable transaction price components, as well as changes in the metal market price up to the date of final pricing. Final pricing is based on the monthly average market price in the month of settlement. For PGM metal sales, pricing is finalised within the month of sale. For PGM concentrate sales, the period between provisional invoicing and final pricing is typically between one and four months. Revenue on provisionally priced sales is initially recognised at the amount of consideration that the Group expects to be entitled to. The revenue adjustment mechanism relating to changes in metal market prices, embedded within provisionally priced PGM concentrate sale arrangements, has the characteristics of a commodity derivative. Accordingly, the fair value of the final sales price adjustment is re-estimated continuously and changes in fair value are recognised as an adjustment to revenue in profit or loss and trade receivables in the statement of financial position. In all cases, fair value is determined with reference to estimated forward prices using consensus forecasts. Revenue arising from these price adjustments is disclosed separately from revenue from contracts with customers. Revenue from PGM recycling consists of the sales of recycled palladium, platinum and rhodium derived from spent catalytic material and is recognised when control is transferred, which is when metal is transferred from the Group’s metal account to the 3rd party’s metal account. Revenue from PGM recycling also includes revenue from toll processing, which is recognised at the time the returnable metals are returned to the supplier at a third party refinery. Wheaton streaming revenue In 2018, Wheaton Precious Metals International Limited (Wheaton International) and the Group entered into a streaming transaction. 100% of refined mined gold and 4.5% of refined mined palladium from the Stillwater Mining Company (Stillwater) operations will be delivered to Wheaton International over the life of mine of the US PGM operations. Each ounce is identified as a separate performance obligation. In exchange for this, Wheaton International paid the Group R6,555.4 million (US$500.0 million) on 25 July 2018. In addition to the advance payment, Wheaton International currently pays the Group 18% cash based on the value of gold and palladium deliveries each month (refer to note 32 for additional detail on the monthly cash percentage). The contract will be settled by the Group delivering metal credits to Wheaton International representing underlying refined, mined gold and palladium. The transaction price, being the advance payment and the cash payment to be received, is recognised as revenue each month when the metal credit is allocated to the appropriate Wheaton International account. It is from this date that Wheaton International has effectively accepted the metal, has physical control of the metal and has the risk and reward of the metal (i.e. control has transferred). Revenue will be recognised over the life of mine of the US PGM operations in line with the timing of control transfer discussed above. To the extent that the life of mine changes or other key inputs are changed (refer note 32), these changes are recognised prospectively as a cumulative catch-up in revenue in the year that the change occurs. BTT streaming revenue Lonmin entered into a metal streaming transaction in 2016 to deliver between 23% - 38% of 6E PGM from its BTT project based on a weighted 6E PGM basket price. Lonmin received $50 million upfront, which was recognised as deferred revenue. Lonmin received between $106 and $280 per ounce of 6E PGM metals based on basket price of 6E PGM for each ounce delivered. The performance obligations under the contract were to be satisfied through delivery of the 6E PGM metals ounces. At acquisition of Lonmin (2019), the Group accounted for the deferred revenue at fair value of R627.6 million under IFRS 3, including a significant financing component. The transaction price under IFRS 15 Revenue from Contracts with Customers (IFRS 15), being the advance payment and further cash payments received, were recognised as revenue when the metal ounces were delivered and Lonmin no longer had physical control of the metal, which is also when the risk and rewards were transferred (i.e. control has transferred). Revenue was recognised over the life of the bulk tailing re-treatment project operations based on the ounces delivered. To the extent that the life of project changed or other key inputs changed (refer note 32), these changes were recognised prospectively as a cumulative catch-up in revenue in the year that the change occurred. The BTT project was early cash-settled by the Group during March 2020 (refer note 32). Other forward sale and prepayment transactions The Group also enters into other forward sale or prepayment transactions with counterparties in which a cash payment is received in advance for future delivery of gold and PGM ounces to the relevant counterparty. Each ounce is identified as a separate performance obligation. The transaction price under IFRS 15, being the advance payment and further cash payments received, is recognised as revenue when the metal ounces are delivered or credited to the customer’s account and Sibanye-Stillwater no longer has physical control of the metal, which is also when the risk and rewards are transferred (i.e. control has transferred). The Group’s sources of revenue are: Figures in million - SA rand Gold mining activities 27,868.8 18,644.2 19,656.7 PGM mining activities 72,469.3 38,418.4 22,735.2 Recycling activities 25,296.5 14,521.2 7,442.7 Stream 1 538.5 540.4 201.6 Total revenue from contracts with customers 126,173.1 72,124.2 50,036.2 Adjustments relating to sales of PGM concentrate 2 1,219.3 801.2 620.2 Total revenue 127,392.4 72,925.4 50,656.4 1 The difference between revenue from PGM mining activities above and total revenue from PGM mining activities per the segment report relates to the separate disclosure of revenue from the gold and palladium streaming arrangement with Wheaton International (Wheaton Stream) in the above as well as the separate disclosure of revenue related to adjustments on the sales of PGM concentrate. Revenue relating to the Wheaton Stream is incorporated in the Group corporate segment as described in the segment report 2 These adjustments relate to provisional pricing arrangements resulting in subsequent changes to the amount of revenue recognised Revenue per geographical region of the relevant operations: Figures in million - SA rand Southern Africa 82,781.4 46,222.6 34,810.3 United States 1 44,611.0 26,702.8 15,846.1 Total revenue 127,392.4 72,925.4 50,656.4 1 The difference between revenue generated by operations in the US and the revenue in the US PGM operations segment relates to the Wheaton Stream Percentage of revenue per segment based on the geographical location of customers purchasing from the Group: Revenue generated per product: Figures in million - SA rand Gold 28,929.8 18,882.1 21,434.2 PGMs 1 95,572.5 51,504.9 27,545.7 Platinum 17,053.9 13,013.2 9,233.9 Palladium 47,280.9 28,031.0 15,282.3 Rhodium 29,865.1 9,338.1 2,236.0 Iridium 814.5 649.6 442.9 Ruthenium 558.1 473.0 350.6 Chrome 1,572.7 1,749.3 1,128.9 Other 2 1,317.4 789.1 547.6 Total revenue 127,392.4 72,925.4 50,656.4 1 In line with Sibanye-Stillwater’s mine-to-market PGM strategy and according to the processing agreements with Anglo American Platinum Limited (Anglo American Platinum), the processing arrangement for SRPM production changed from a purchase of concentrate arrangement to a Toll processing arrangement from 1 January 2019 2 Other primarily includes revenue from nickel, silver, cobalt and copper sales Major customers During 2020, total revenue from customers A and B, which is reported in the Group’s US PGM and SA PGM operating segments, amounted to approximately R49,455 million and R15,234 million, respectively. During 2019, total revenue from a single customer which is reported in the Group’s US PGM and SA PGM operating segments, amounted to approximately R30,598 million. During 2018, a customer from each of the US PGM, SA PGM and SA Gold operating segments, amounted to approximately R11,809 million, R13,881 million and R7,371 million of the Group’s total revenue, respectively. Market risk Foreign currency sensitivity The SA region’s revenue is sensitive to changes in the exchange rate. The US PGM operations’ revenue (and expenses) are translated from its functional currency (US dollars) to the Group’s presentation currency (SA rand) and, therefore, the Group’s “presentation currency” earnings are sensitive to changes in the exchange rate. A one percentage point change in the SA rand average exchange rate for the year ended 31 December 2020 of R16.46/US$ would have changed profit for the year by approximately R77.8 million.

COST OF SALES

COST OF SALES	12 Months Ended
	Dec. 31, 2020
COST OF SALES.
COST OF SALES	4. Cost of sales Accounting policy The following accounting policies relate to some costs that are included in cost of sales: Short-term employee benefits Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be reliably estimated. Pension and provident funds The Group operates a defined contribution retirement plan and contributes to a number of industry-based defined contribution retirement plans. The retirement plans are funded by payments from employees and Group companies. Contributions to defined contribution funds are expensed as incurred. Figures in million - SA rand Notes Salaries and wages (23,850.6) (21,215.6) (15,710.3) Consumable stores (16,404.0) (12,784.3) (9,327.9) Utilities (6,800.9) (6,089.3) (5,049.2) Mine contracts (3,789.9) (3,566.4) (3,197.6) Recycling 1 (24,417.5) (13,968.6) (7,196.5) Other (4,663.7) (1,878.0) (4,564.0) Ore reserve development costs capitalised 4,150.2 3,401.8 3,530.3 Cost of sales, before amortisation and depreciation (75,776.4) (56,100.4) (41,515.2) Amortisation and depreciation (7,592.4) (7,214.1) (6,613.8) Total cost of sales (83,368.8) (63,314.5) (48,129.0) 1 Recycling cost consists of cost relating to the purchasing of spent catalytic material and the cost incurred to convert the spent catalytic material into finished PGMs The SA region employees are members of various defined contribution retirement plans. The cost of providing retirement benefits for the year amounted to R1,351.0 million ( 2019: R1,233.7 million and 2018: R919.1 million).

Interest income and finance exp

Interest income and finance expense	12 Months Ended
	Dec. 31, 2020
Finance expense
INTEREST INCOME AND FINANCE EXPENSE	5. Interest income and finance expenses Accounting policy Interest income comprises interest income on cash deposits, rehabilitation obligation funds and the right of recovery asset. Interest income is recognised using the effective interest method. Finance expense comprises interest on borrowings, lease liabilities, environmental rehabilitation obligation, occupational healthcare obligation, deferred payment, dissenting shareholder liability and deferred revenue and is offset by borrowing costs capitalised on qualifying assets where applicable. Interest payable on borrowings is recognised in profit or loss over the term of the borrowings using the effective interest method. Cash flows from interest paid are classified under operating activities in the statement of cash flows. 5.1 Interest income Figures in million - SA rand Note Interest received on cash deposits 714.1 264.0 172.4 Interest received on rehabilitation obligation funds 245.1 265.5 223.5 Interest on right of recovery asset 16.0 15.8 14.1 Other 90.2 15.1 72.1 Total interest income 1,065.4 560.4 482.1 5.2 Finance expense Figures in million - SA rand Notes Interest charge on: Borrowings - interest (1,289.9) (1,444.9) (1,572.5) Borrowings - accrued interest and unwinding of amortised cost (393.2) (374.4) (538.3) Lease liabilities (33.9) (33.9) - Environmental rehabilitation obligation (683.8) (578.7) (398.8) Occupational healthcare obligation (96.3) (115.5) (105.4) Deferred Payment (related to the Rustenburg operation acquisition) (186.8) (179.0) (200.4) Dissenting shareholders - (21.2) (68.1) Deferred revenue 1 (349.2) (352.3) (160.3) Deferred consideration (related to Pandora acquisition) (49.1) (40.5) - Other (69.6) (162.1) (90.9) Total finance expense (3,151.8) (3,302.5) (3,134.7) 1 For the year ended 31 December 2020, interest expense includes non-cash interest of R322.1 million (2019: R310.8 million, 2018: R160.3 million) relating to the Wheaton Stream. In addition, interest expense includes non-cash interest of R12.6 million (2019: R41.5 million, 2018: Rnil) relating to the BTT project. Although there is no cash financing cost related to this arrangement, IFRS 15 requires the Group to recognise a notional financing charge due to the significant time delay between receiving the upfront streaming payment and satisfying the related performance obligations. A discount rate of 4.6% and 5.2% was used for the Wheaton palladium and gold stream respectively and 11.5% was used for the BTT stream in determining the finance costs to be recognised as part of the streaming transactions entered into. For the year ended 31 December 2020, interest expense also includes R14.5 million non-cash interest relating to the platinum forward sale entered into by Western Platinum Proprietary Limited (WPL) on 3 March 2020

SHARE-BASED PAYMENTS

SHARE-BASED PAYMENTS	12 Months Ended
	Dec. 31, 2020
SHARE-BASED PAYMENTS
SHARE-BASED PAYMENTS	6. Share-based payments Accounting policy Equity-settled share-based payments The Group operates equity-settled compensation plans in which certain employees of the Group participate. The fair value of the equity-settled instruments is measured by reference to the fair value of the relevant equity instruments granted, taking into account the terms and conditions upon which those equity-settled instruments were granted. Fair value of equity-settled instruments granted is estimated using appropriate valuation models and appropriate assumptions at the grant date. Service and non-market performance conditions are not taken into account when estimating the fair value of the equity-settled instruments at grant date. Market conditions are taken into account in determining the fair value at grant date. The grant date fair value of the equity-settled instruments is recognised as share-based payment expenses over the vesting period based on the Group’s estimate of the number of instruments that will eventually vest, with a corresponding increase in the share-based payment reserve. Vesting assumptions for service and non-market performance conditions are reviewed at each reporting date to ensure they reflect current expectations. Cash-settled share-based payments The Group also operates cash-settled compensation plans in which certain employees of the Group participate. These awards entitle the participants to cash payments based on a relevant share price. The fair value of the cash-settled instruments is measured by reference to the fair value of the underlying shares using appropriate valuation models and assumptions, taking into account the terms and conditions upon which the instruments were granted. The grant date fair value of the cash-settled instruments is recognised as share-based payment expenses over the vesting period based on the Group’s estimate of the number of instruments that will eventually vest, with a corresponding increase in the share-based payment obligation. At each reporting date, the obligation is remeasured to the fair value of the instruments, to reflect the potential outflow of cash resources to settle the liability, with a corresponding adjustment to the share-based payment expense. Vesting assumptions for service and non-market performance conditions are reviewed at each reporting date to ensure they reflect current expectations. The Group also issued cash-settled instruments to black economic empowerment (BEE) shareholders in terms of the Rustenburg operation acquisition. The fair value of these instruments are determined using appropriate valuation models and assumptions, taking into account the terms and conditions upon which the instruments were granted. At each reporting date, the obligation is remeasured to the fair value of the instruments, to reflect the potential outflow of cash resources to settle the liability. There are no vesting conditions and fair value changes are recognised as part of gains or losses on financial instruments in profit or loss. Modifications to share-based payment schemes Where the terms of an equity-settled or a cash-settled award are modified, the originally determined expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any modification, which increases the total fair value of the share-based payment arrangement, or is otherwise beneficial to the participant as measured at the date of the modification. 6.1 Equity-settled share-based payments – Sibanye-Stillwater On 21 November 2012, the shareholders of Sibanye-Stillwater approved the adoption of the Sibanye Gold Limited (SGL) 2013 share plan (2013 Share Plan) with effect from the date of the listing of SGL. The 2013 Share Plan provided for two methods of participation, namely Bonus Shares and Performance Shares. This plan sought to attract, retain, motivate and reward participating employees on a basis which seeks to align the interest of such employees with those of the shareholders. On 23 May 2017, the shareholders of Sibanye-Stillwater approved the adoption of the Sibanye-Stillwater 2017 share plan (2017 Share Plan) on essentially similar terms to the previous 2013 Share Plan. At the annual general meeting on 30 May 2018, the directors of Sibanye-Stillwater were authorised to issue and allot all or any of such shares required for the 2017 Share Plan, up to a maximum not exceeding 86,748,850 shares. Under the 2017 Share Plan, an individual participant’s awards were limited to an aggregate 8,674,885 shares. From the implementation of the Scheme (refer note 26), any awards vesting under the equity-settled share plans are settled in the Company’s shares. The 2017 Share Plan was replaced by the 2020 cash-settled plan (2020 Share Plan) for all awards issued from March 2020 (refer note 6.3). Bonus Shares – as part of the short-term incentive The Remuneration Committee makes an annual award of Bonus Shares to eligible participants as a share-based component of the short-term incentive scheme, with the last awards granted in 2019. The total annual bonus was determined by reference to the actual performance ratings of individuals against predetermined targets for the preceding cycle and comprised of cash plus the face value of restricted Bonus Shares in the ratio of 60:40. In other words, 40% of the annual bonus was awarded using the Company’s shares as the “currency”, as opposed to cash, access to which is deferred. As such, the Bonus Shares vest in two equal tranches, nine months and 18 months after the award date. Except for the right to dispose of the shares, participants have full shareholder rights in the unvested Bonus Shares during the restricted period, including the right to receive dividends. The number of shares awarded is determined by dividing the face value of the Bonus Shares portion of the annual bonus by the volume-weighted average price (VWAP) of the Company’s shares over the three days immediately prior to the award date. Performance Shares – for the long-term incentive The Remuneration Committee made an annual award of Performance Shares to eligible participants as part of its long-term incentive scheme. The last of these awards were granted in 2019. The number of Performance Shares awarded to an employee was based on the employee’s annual guaranteed pay and job grade combined with a factor related to the employee’s assessed performance rating for the prior year and using the relevant share price calculation (as for the Bonus Shares) at the award date, with ultimate vesting of those awards subject to performance conditions as approved by the Remuneration Committee. With effect from March 2016, in respect of the award of Performance Shares at that time and at any time thereafter (subject to any future agreed changes), an updated methodology was approved by the Remuneration Committee regarding the performance conditions applicable to the determination of the amount of Performance Shares that will vest at the end of the vesting period (which is three years from the date of the award). Essentially, the number of shares that vest depends on the extent to which Sibanye-Stillwater has performed over the intervening three year period relative to two performance criteria, Total Shareholder Return (TSR) and Return on Capital Employed (ROCE). These are among the most widely acceptable vesting performance measures suited to aligning the outcome of long-term share incentive awards with shareholders’ interests. In addition, at the sole discretion of the Remuneration Committee, up to 20% of the determined number of vesting shares using the two performance criteria is liable to forfeiture in the event of any extreme environmental, social, and governance (ESG) incidents occurring during the vesting period. The number of the Performance Shares awarded that will finally vest three years after the award will range between 0% and 100% dependent on the extent to which the two performance criteria have been met and whether the Remuneration Committee has applied its further discretion to reduce the award on the basis mentioned above. The details of these two performance conditions are provided below. Total Shareholder Return (TSR) – 70% Weighting TSR has been widely recognised as an appropriate indicator of shareholder value creation. It is used extensively internationally and increasingly in South Africa, sometimes as a single metric but most often as one of two or three weighted performance metrics. In some company share plans, an absolute target is set, but more often it is referenced in relation to the company’s share price relative to those of a group of peers or ‘comparator companies’. In Sibanye-Stillwater’s case, the TSR element is measured against a benchmark of eight peer group mining and resource companies that can be deemed to collectively represent an alternative investment portfolio for Sibanye-Stillwater’s shareholders (Peer Group). The Peer Group comprises similar market capitalisation companies that are reflective of the expected positioning of Sibanye-Stillwater over the medium term as a value driven multi-commodity resources company with a specific focus on gold and platinum. The Peer Group is set out in the table below. Peer group companies for TSR comparison AngloGold Ashanti Limited Anglo American Platinum Limited Gold Fields Limited Impala Platinum Holdings Limited Northam Platinum Limited Exxaro Resources Limited Harmony Gold Mining Company Limited African Rainbow Minerals Limited Sibanye-Stillwater’s TSR over the vesting period is compared with the Peer Group TSR curve constructed on a market capitalisation weighted basis in the following manner. The annualised TSR over the vesting period (TSR ANN ) is determined for each of the companies in the Peer Group. The Peer Group companies are sorted from lowest to highest TSR ANN . The average market capitalisation based on daily closing price is determined for each company, and each peer company is assigned its proportion of the overall average market capitalisation of the Peer Group. The peer company TSR curve is plotted at the midpoint of each company’s percentage of Peer Group market capitalisation on a cumulative basis above the worse performing companies in the Peer Group. In the event that one or more of the peer companies become ineligible for comparison, a peer company curve based on the companies remaining in the Peer Group is utilised. The cumulative position of Sibanye-Stillwater’s TSR ANN is then mapped onto the TSR curve for the Peer Group to determine the percentile at which Sibanye-Stillwater performed over the vesting period. The performance curve governing vesting is set out in the table below with linear interpolation applied between the indicated levels. TSR element of performance conditions Percentile on peer group TSR curve % vesting 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Return On Capital Employed (ROCE) – 30% Weighting ROCE is a profitability metric that measures how efficiently a company generates profits from its capital employed. There is an increased focus on measuring the returns earned by businesses on the capital deployed by shareholders over and above the steady low risk returns typically available on financial markets. For Sibanye-Stillwater, ROCE is evaluated against the company’s cost of equity (Ke). A minimum threshold on the performance scale for ROCE is set as equaling the cost of equity, Ke, which would lead to the ROCE element contributing 0% towards the performance condition. Delivering a return that exceeds Ke by 6% or more would be regarded as a superior return representing the maximum 100% on the performance scale and full vesting in respect of the ROCE element. The performance curve governing vesting is set out in the table below, with linear interpolation between the indicated levels. ROCE element of performance condition Annual ROCE % vesting ≤K e K e + 1% K e + 2% K e + 3% K e + 4% K e + 5% K e + 6% The overall vesting is determined by applying the TSR performance condition to 70% of awarded shares element and the ROCE performance condition to 30% of awarded shares – plus any further discretionary reduction in the award based on the Remuneration Committee’s judgement regarding ESG issues mentioned above. Valuation model and inputs A Monte Carlo Simulation model was used to value equity-settled share-based payment awards. The inputs to the valuation model for share awards granted were as follows: Performance Bonus shares shares MONTE CARLO SIMULATION n/a Weighted average historical volatility (based on a statistical analysis of the share price on a weighted moving average basis for the expected term of the option) % n/a n/a 3 3 n/a Expected term (years) n/a n/a n/a n/a n/a n/a Expected term (months) n/a 9 - 18 9 - 18 n/a Expected dividend yield % n/a - 2.14 / 2.30 n/a Weighted average three-year risk-free interest rate (based on SA interest rates) % n/a 7.06 / 7.07 6.87 / 6.77 6.86 11.17 n/a Weighted average fair value n/a 15.58 11.43 Share awards granted, exercised and forfeited under the 2017 Share Plan Performance Bonus shares shares Number of instruments 12,953,888 48,535,348 68,236,442 Outstanding at beginning of the year 2,582,489 3,269,210 - Movement during the year: 41,103,872 30,512,439 - Granted during the year - 3,994,507 5,977,437 (1,457,586) - (1,005,668) Vested (2,541,680) (5,823,174) (2,348,445) (4,064,826) (10,811,345) (4,633,349) Forfeited (40,809) 1,141,946 (359,782) 48,535,348 68,236,442 62,597,425 Outstanding at end of the year - 2,582,489 3,269,210 Share awards granted, exercised and forfeited under the 2013 Share Plan Performance shares Bonus shares Number of instruments 19,379,386 15,215,982 11,157,460 Outstanding at beginning of the year - - 446,469 Movement during the year: - - - Granted during the year - - - (2,523,162) (467,017) (5,055,647) Vested - - (415,579) (1,640,242) (3,591,505) (6,101,813) Forfeited - - (30,890) 15,215,982 11,157,460 - Outstanding at end of the year - - - Directors and prescribed officers’ equity-settled instruments The directors and prescribed officers of Sibanye-Stillwater held the following equity-settled instruments in the above 2017 Share Plan and 2013 Share Plan at 31 December 2020: Instruments granted Equity-settled instruments Instruments forfeited Number of instruments Number of instruments Number of instruments Average Share 2 Number of instruments Number of instruments Executive directors Neal Froneman 3 9,647,563 - 827,687 38.78 32,095,618 1,452,461 7,367,415 Charl Keyter 4,689,446 - 416,220 38.22 15,909,215 736,054 3,537,172 Prescribed officers Chris Bateman 4 3,976,014 - 1,055,727 52.51 55,433,322 2,092,683 827,604 Shadwick Bessit 1,928,857 - 214,249 37.45 8,024,436 394,887 1,319,721 Hartley Dikgale 5 2,155,964 - 833,284 33.46 27,882,245 1,322,680 - Dawie Mostert 2,462,548 - 236,036 38.11 8,996,232 419,915 1,806,597 Themba Nkosi 2,163,196 - 221,755 37.65 8,350,171 395,503 1,545,938 Wayne Robinson 2,579,947 - 260,536 37.81 9,850,640 471,210 1,848,201 Richard Stewart 2,957,219 - 302,063 37.26 11,253,941 562,512 2,092,644 Robert van Niekerk 3,924,717 - 313,281 38.28 11,990,926 633,725 2,977,711 1 Prior to the implementation of the Scheme, the share awards were issued and settled by SGL. From 24 February 2020, all share awards are settled by the Company. No new equity-settled instruments were issued during 2020. The 2019 number of instruments reflects the take-on instruments at 24 February 2020 when the Company became the settling entity 2 Amounts represent earnings taxable in the hands of the participants. These were calculated by taking vesting date closing share prices of the Company multiplied by the number of vested units 3 Numbers include American Depositary Receipts (ADRs) and JSE listed shares and as a result of the dual service contract 4 Share proceeds were calculated by converting the US dollar amounts at an average exchange rate of R16.46/US$ for the year ended 31 December 2020. Chris Bateman ceased performing a prescribed officer role on 6 September 2020 5 Ceased performing a prescribed officer role on 31 March 2020 6.2 Equity-settled share-based payments - DRDGOLD On 2 December 2019, the shareholders of DRDGOLD approved a new equity-settled long-term incentive scheme (New DRDGOLD LTI Scheme) to replace the cash-settled long-term incentive scheme established in November 2015. Under the New DRDGOLD LTI Scheme, qualifying employees are awarded conditional shares on an annual basis, comprising performance shares (80% of the total conditional shares awarded) and retention shares (20% of the total conditional shares awarded). Conditional shares will vest 3 years after grant date and will be settled in the form of DRDGOLD shares at a zero-exercise price. The first grant was made on 2 December 2019 and will vest in two tranches, 50% on the 2nd anniversary and the remaining 50% on the 3rd anniversary of the grant date respectively, provided the employee is still within the employment of DRDGOLD until the respective vesting dates. The key conditions of the December 2019 grant made under the long-term incentive scheme are: · Retention shares: 100% of the retention shares will vest if the employee remains in the employ of DRDGOLD at vesting date and individual performance criteria are met. · Performance shares: Vesting is dependent on a total shareholder return measure referencing DRDGOLD’s weighted average cost of capital and considering a peer group of companies. 6.3 Cash-settled share-based payments – Sibanye-Stillwater 2020 Share Plan With effect from the March 2020 remuneration cycle, long-term incentive awards are made on a cash-settled basis rather than equity-settled. This includes awards of both Forfeitable Share Units (FSUs) and Conditional Share Units (CSUs) (previously referred to as Bonus Shares and Performance Shares awards under the equity-settled schemes). Apart from the change in manner of settlement to cash, the terms and conditions of the awards, including all vesting conditions, are the same as the 2017 Share Plan applicable to previous cycles. The FSUs have the same terms as the previous Bonus Shares and CSUs have the same terms as the previous Performance Shares. The value of the cash settlement is therefore the same as the value of the shares that would have vested according to the rules in previous arrangements. Existing unvested equity-settled awards under the 2017 Share Plan remain unchanged and will be settled in the Company’s shares to the extent that they vest. At each reporting date, on vesting date and on settlement date, the liability for the cash payment relating to the FSUs and CSUs awarded is measured/ remeasured at fair value. Similar to the equity-settled schemes, fair value is determined using a Monte Carlo Simulation model, with key inputs including the Company’s share price, risk free rate, dividend yield and volatility. Awards granted, exercised and forfeited under the 2020 Share Plan Conditional Forfeitable Share Units Share Units Number of units - - - Outstanding at beginning of the year - - - - - Movement during the year: - - - - Granted during the year 1,985,819 - - - - (10,891) Vested (965,294) - - - - (868,913) Forfeited (70,305) - - - - Outstanding at end of the year 950,220 - - Conditional Forfeitable Share Units Share Units MONTE CARLO SIMULATION - - Weighted average historical volatility (based on a statistical analysis of the share price on a weighted moving average basis for the expected term of the option) % n/a - - - - 3 Expected term (years) n/a - - - - 36.0 Expected term (months) 9 - 18 - - - - Expected dividend yield (USA/SA) % 12.92/6.66 - - - - Risk-free interest rate (USA/SA) % 0.14/3.40 - - R60.0 Weighted average share price (ADR/JSE) US$15.89/R60 - - 40.38 Weighted average fair value (SA rand) 67.72 - - Directors and prescribed officers’ cash-settled instruments The directors and prescribed officers of Sibanye-Stillwater held the following cash-settled instruments in the above 2020 Share Plan as at 31 December 2020: Instruments granted Cash-settled instruments Instruments forfeited Number of instruments Number of instruments Number of instruments Average Cash 1 Number of instruments Number of instruments Executive directors Neal Froneman 2 - 1,736,343 102,710 57.20 5,875,151 - 1,633,633 Charl Keyter - 776,882 47,734 55.85 2,666,087 - 729,148 Prescribed officers Chris Bateman 3 - 790,804 83,596 54.28 4,537,327 672,288 34,920 Shadwick Bessit - 489,363 31,085 55.85 1,736,190 - 458,278 Hartley Dikgale 4 - 240,241 5,103 22.65 115,558 233,492 1,646 Dawie Mostert - 431,942 26,844 55.85 1,499,318 - 405,098 Themba Nkosi - 349,669 23,170 55.85 1,294,114 - 326,499 Wayne Robinson - 419,040 28,103 55.85 1,569,637 - 390,937 Richard Stewart - 434,990 27,033 55.85 1,509,874 - 407,957 Laurent Charbonnier 5 - 138,895 - - - - 138,895 Lerato Legong 6 - 148,362 - - - - 148,362 Robert van Niekerk - 698,830 43,656 55.85 2,438,319 - 655,174 1 Amounts represents pre-tax earnings paid to participants. For South African participants, these amounts were calculated by taking the Company’s VWAP share price on vesting date multiplied by the number of vested units. Chris Bateman’s proceeds were calculated by taking the Company’s closing ADR share prices on day prior to vesting multiplied by the number of units vested 2 Numbers include ADRs and JSE listed shares as a result of the dual service contract 3 Share proceeds were calculated by converting the US dollar amounts at an average exchange rate of R16.46/US$ for the year ended 31 December 2020. Chris Bateman ceased performing a prescribed officer role on 6 September 2020 4 Ceased performing a prescribed officer role on 31 March 2020 5 Assumed a prescribed officer role on 16 November 2020 6 Assumed a prescribed officer role on 1 September 2020 6.4 Cash-settled share-based payments - DRDGOLD DRDGOLD’s outgoing cash-settled long-term incentive scheme (Cash-settled LTI Scheme) consisted of a grant made in November 2015 with a finite term of 5 years. No top-up awards were made as the awards vested. The awards were issued at an exercise price of nil and vested in three tranches of 20%, 30% and 50% on the 3rd, 4th and 5th anniversaries respectively, subject to individual service and performance conditions being met. The awards were settled at the 7 day volume weighted average price of the DRDGOLD share. The last tranche of the November 2015 grant vested during November 2020. The outgoing Cash-settled LTI Scheme was replaced by the New DRDGOLD LTI Scheme (refer 6.2 above). 6.5 Cash-settled share-based payments – Rustenburg BEE transaction In terms of the Rustenburg operation transaction , a 26% equity stake in SRPM was acquired by the BBBEE SPV (the Rustenburg BEE Transaction) by a vendor financed facility from Sibanye Platinum Proprietary Limited (Sibanye Platinum), on the following terms:  Interest at up to 0.2% above Sibanye-Stillwater’s highest cost of debt. Once the capped amount is reached, interest ceases to accrue so that the capped amount is not exceeded. However, once the facility reduces below R3.5bn, interest starts to accrue again;  Post payment of the annual Deferred Payment to Rustenburg Platinum Mines Limited (RPM) and in respect of any repayment by SRPM of shareholder loans or the distribution of dividends, 74% will be paid to Sibanye Platinum and 26% to BBBEE SPV;  Of the 26% payment to BBBEE SPV, 85% will be used to service the facility owing by BBBEE SPV to Sibanye Platinum;  The remaining 15% of any such payment or 100%, once the facility owing by BBBEE SPV to Sibanye Platinum is repaid, will be declared by BBBEE SPV as a dividend to the BBBEE SPV shareholders; and  The facility will be capped at R3,500 million. The IFRS 2 expense is based on 44.8% of the 26% interest relating to Bakgatla-Ba-Kgafela Investment Holdings and Siyanda Resources Proprietary Limited, as the Rustenburg Mine Community Trust and Rustenburg Mine Employees Trust are controlled and consolidated by Sibanye-Stillwater. The 44.8% interest was based on the expected discounted future cash flows of the expected PGM reserves and costs to extract the PGMs. 6.6 Cash-settled share-based payments obligations The following table shows a reconciliation of the cash-settled share-based payment award obligation of the Group for the year ended 31 December 2020: Figures in million - SA rand Note Share-based payment on Rustenburg BEE transaction 1,468.5 1,367.6 149.7 Employee cash-settled share-based payment plans 159.9 57.5 76.0 Balance at end of the year 1,628.4 1,425.1 225.7 Reconciliation of the share-based payment obligations Balance at beginning of the year 1,425.1 225.7 434.5 Cash-settled share-based payments expense 1 353.4 73.0 17.7 Fair value loss/(gain) on obligations 2 128.6 1,217.9 (249.9) Cash-settled share-based payments paid 3 (274.5) (90.9) (21.7) Share-based payment obligation on acquisition of subsidiary - - 45.1 Foreign currency translation (4.2) (0.6) - Balance at end of the year 1,628.4 1,425.1 225.7 Reconciliation of the non-current and current portion Cash-settled share-based payment obligations 1,628.4 1,425.1 225.7 Current portion of cash-settled share-based payment obligations (33.1) (82.1) (56.8) Non-current portion of cash-settled share-based payment obligations 1,595.3 1,343.0 168.9 1 Included in the amount is a share-based payment expense for the year ended 31 December 2020 related to cash-settled share-based payment schemes of Stillwater of R0.7 million (31 December 2019 and 31 December 2018: R8.9 million and R14.5 million, respectively) and DRDGOLD Limited of R127.8 million (31 December 2019 and 31 December 2018: R64.1 million and R3.2 million, respectively). The remainder of the expense relates to the new 2020 cash-settled share-based payment awards of the Group 2 The fair value adjustment relates to the Rustenburg BEE Transaction and is included in the loss on financial instruments in profit or loss 3 Payments made during the year relate to vesting of cash-settled awards to employees and payments made on the Rustenburg BEE Transaction as well as the vesting of the last tranche of the November 2015 grant relating to DRDGOLD 6.7 Share-based payment expenses Share based payment expenses for the year consisted of the following: Figures in million - SA rand Notes Sibanye-Stillwater 2020 Share Plan (cash-settled scheme) (225.9) - - Sibanye-Stillwater 2017 Share Plan (equity-settled scheme) (145.2) (194.4) (139.2) Sibanye-Stillwater 2013 Share Plan (equity-settled scheme) - (95.9) (142.5) Stillwater (cash-settled scheme) (0.7) (8.9) (14.5) DRDGOLD (equity-settled scheme) (12.8) - - DRDGOLD (cash-settled scheme) 1 (127.8) (64.1) (3.2) Total share-based payment expense (512.4) (363.3) (299.4) Reconciliation of the cash-settled and equity-settled share-based payment expense: Cash-settled share-based payment expense 2 (354.4) (73.0) (17.7) Equity-settled share-based payment expense (158.0) (290.3) (281.7) Total share-based payment expense (512.4) (363.3) (299.4) 1 The DRDGOLD share-based payment expense represents a cash-settled long-term incentive scheme in which phantom shares were issued. The increase in expense relates mainly to the remeasurement of the cash-settled liability over the vesting period and an increase in the seven day volume weighted average price of the DRDGOLD share price 2 Included in the cash-settled share-based payment expense is grant date fair value movements of R120.3 million and fair value movements after grant date of R232.4 million

(Loss)_gain on financial instru

(Loss)/gain on financial instruments	12 Months Ended
	Dec. 31, 2020
(Loss)/gain on financial instruments
(Loss)/gain on financial instruments	7. (L oss)/gain on financial instruments Figures in million - SA rand Notes Fair value loss on gold hedge contracts 1 (457.6) (110.1) (180.6) Fair value gain on palladium hedge contract 2 36.1 - - Fair value (loss)/gain on derivative financial instrument (70.2) (3,911.5) 678.1 Fair value (loss)/gain on cash-settled share-based payment obligations (Rustenburg BEE transaction) (128.6) (1,217.9) 249.9 (Loss)/gain on the revised cash flow of the Deferred Payment (2,081.0) (724.1) 150.6 Gain/(loss) on the revised cash flow of the Burnstone Debt 264.3 (96.6) 804.6 Fair value gain on foreign currency hedge - - 25.3 Other (13.3) 45.1 (23.8) Total (loss)/gain on financial instruments (2,450.3) (6,015.1) 1,704.1 1 At the end of 2017 and during 2018, Sibanye-Stillwater began a hedging program for SGL and Rand Uranium Proprietary Limited by entering into commodity hedging contracts. The contracts comprise gold zero cost collars which establish a minimum (floor) and maximum (cap) gold sales price. On 9 March 2020, Sibanye-Stillwater concluded a gold hedge agreement which commenced on 1 April 2020, comprising the delivery of 1,800 kilograms of gold (150 kilograms per month) with a zero cost collar which establishes a minimum floor of R800,000 per kilogram and a maximum cap of R1,080,000 per kilogram. For the year ended 31 December 2020, there was a realised loss of R525.9 million (2019: R284.6 million, 2018: gain of R76.9 million) and unrealised gain of R68.3 million (2019: R174.5 million, 2018: loss of R257.5 million). As hedge accounting is not applied, resulting gains or losses are accounted for as gains or losses on financial instruments in profit or loss 2 On 17 January 2020, Stillwater Mining Company (wholly owned subsidiary of Sibanye-Stillwater) concluded a palladium hedge agreement which commenced on 28 February 2020, comprising the delivery of 240,000 ounces of palladium over two years (10,000 ounces per month) with a zero cost collar which establishes a minimum and a maximum cap of US$1,500 and US$3,400 per ounce, respectively. For year ended 31 December 2020, the unrealised gain was R36.1 million. As hedge accounting is not applied, resulting gains or losses are accounted for as gains or losses on financial instruments in profit or loss

OTHER COSTS and other income

OTHER COSTS and other income	12 Months Ended
	Dec. 31, 2020
OTHER COSTS
OTHER COSTS AND OTHER INCOME	8. O ther costs and other income 8.1 Other costs Figures in million - SA rand Care and maintenance (814.4) (765.9) (576.5) Change in estimate of environmental rehabilitation obligation, - (88.9) 66.6 Loss due to dilution of interest in joint operation (30.2) - - Non-recurring COVID-19 costs (97.0) - - Corporate and social investment costs (257.8) (149.9) (70.1) Cost incurred on employee and community trusts (507.8) (50.3) - Exploration costs (33.0) (10.7) - Non-mining royalties (193.4) (87.5) (104.7) Strike related costs (0.6) (402.3) (31.7) Service entity costs (501.1) (403.7) (193.6) Other (291.6) (351.2) (105.4) Total other costs (2,726.9) (2,310.4) (1,015.4) 8.2 Other income Figures in million - SA rand Income on settlement of legal dispute 1 580.0 - - Change in estimate of environmental rehabilitation obligation, 464.1 - - Service entity income 382.9 263.8 296.5 Sundry income 230.4 220.4 13.7 Total other income 1,657.4 484.2 310.2 1 The income of R580.0 million relates to the settlement of a legal dispute concerning a historical transaction

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2020
Restructuring cost
Restructuring cost	9. Restructuring cost Restructuring costs of R436.2 million (2019: R1,252.4 million, 2018: R142.8 million) were incurred in 2020 and included voluntary separation packages. The restructuring costs mainly related to the SA gold operations and the Marikana operations, which amounted to R108.1 million (2019: R357 million, 2018: R14.2 million) and R271.4 million (2019: R867 million, 2018: Rnil) respectively .

IMPAIRMENT

IMPAIRMENT	12 Months Ended
	Dec. 31, 2020
IMPAIRMENTS
REVERSAL OF IMPAIRMENTS/IMPAIRMENTS	10. Reversal of impairments/(impairments) Figures in million - SA rand Notes Impairment of property, plant and equipment (0.5) (5.1) (2,603.3) Impairment of goodwill - (54.3) (436.3) Reversal of impairment/(impairment) of equity-accounted investee 119.6 (12.3) - Other reversal of impairment 2.3 - - Impairment of loan to equity-accounted investee - (14.3) (1.8) Total reversal of impairments/(impairments) 121.4 (86.0) (3,041.4) 31 December 2020 Reversal of impairment on investment in Rand Refinery Proprietary Limited (Rand Refinery) Historically recognised impairment of the Group’s investment in the equity-accounted Rand Refinery amounting to R119.6 million was reversed at 31 December 2020 due to improvement in the investees financial position and forecasted return to stable dividend payments. The investment in Rand Refinery is accounted for in the SA gold corporate segment. 31 December 2019 Impairment of Qinisele Resources The goodwill that arose on the acquisition of Qinisele Resources cannot be attributed to any current Sibanye-Stillwater operating cash generating units (refer note 16.3). Qinisele Resources will perform an internal corporate function, mostly responsible for identifying, assessing and executing corporate actions. The business acquired will not generate external cash flows and has no future external mandates . Due to the factors mentioned, the recoverable amount of goodwill resulting from the application of IFRS 3 has been calculated at zero and fully impaired at year-end. 31 December 2018 Impairment of Driefontein, Kloof and Beatrix mining assets and goodwill Ore body constraints, above inflation electricity price and wage increases at the SA gold operations have impacted the sustainability of certain shafts and resulted in these shafts being marginal to loss making. Ongoing efforts to restore these to profitability have proven to be unsuccessful. These profitability challenges were compounded during 2018 by operational disruptions, including the interruption of Eskom power at the Beatrix operations in February and seismic events at Driefontein and Kloof which affected access to mining areas, thereby impacting operational flexibility. Ongoing losses experienced at the Driefontein and Beatrix operations negatively affected group cash flow as well as the sustainability and economic viability of other operations in the SA region. As a result a decision was taken during the six months ended 31 December 2018, to impair the mining assets of and goodwill allocated to Driefontein by R2,171.8 million and R166.9 million, respectively, goodwill allocated to Kloof by R165.5 million, and mining assets of and goodwill allocated to Beatrix by R166.9 million and R103.9 million, respectively. These impairments were based on the estimated fair value less cost to sell over the life of mine calculated as expected discounted cash flows from the expected gold reserves and costs to extract the gold. Impairment of Burnstone mine development assets The development of the Burnstone project was initially deferred to 2020 and as a result a decision was taken at 31 December 2018 to impair the mine development assets of Burnstone by R193.6 million. This impairment was based on the estimated fair value less cost to sell based on the life of mine calculating the discounted cash flows from the expected gold reserves and costs to extract the gold. As at 31 December 2020, work associated with the development of the project is planned to commence during 2021 and the impairment assessment at year-end was updated to reflect the expected timing of this project.

Royalties, and Mining and incom

Royalties, and Mining and income tax	12 Months Ended
	Dec. 31, 2020
Mining and income tax
ROYALTIES, AND MINING AND INCOME TAX, AND DEFERRED TAX	11. Royalties, mining and income tax, and deferred tax Significant accounting judgements and estimates The Group is subject to income tax in South Africa, Zimbabwe, the United Kingdom (UK) and the US. Significant judgement is required in determining the liability for income tax due to the complexity of legislation. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognises liabilities for anticipated tax audit issues based on the best estimates of whether additional taxes will be due. The Group reassesses its judgements and estimates if facts and circumstances change. Where the facts and circumstances change or when the final tax outcome of these matters are different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. The Group recognises the net future tax benefit related to deferred tax assets to the extent that it is probable that the deductible temporary differences will reverse in the foreseeable future. Assessing the recoverability of deferred tax assets requires the Group to make significant estimates related to expectations of future taxable income. Estimates of future taxable income are based on forecast cash flows from operations and the application of existing tax laws. To the extent that future cash flows and taxable income differ significantly from estimates, the ability of the Group to realise the net deferred tax assets recorded at the reporting date could be impacted. The Group’s gold mining operations are taxed on a variable rate that increases as the profitability of the operation increases. The deferred tax rate used to calculate deferred tax is based on the current estimate of future profitability when the temporary differences will reverse based on tax rates and laws that have been enacted or substantively enacted at the reporting date. Depending on the profitability of the operations, the deferred tax rate can consequently be significantly different from year to year. Calculating the future profitability of the operations is inherently uncertain and could materially change over time. Additionally, future changes in tax laws in South Africa, Zimbabwe, the UK and the US could limit the ability of the Group to obtain tax deductions in future periods. Accounting policy Income tax comprises current and deferred tax. Current tax and deferred tax is recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. Current tax is measured on taxable income at the applicable statutory rate enacted or substantively enacted at the reporting date and is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. Deferred tax is provided on temporary differences existing at each reporting date between the tax values of assets and liabilities and their carrying amounts and reflects uncertainty related to income taxes, if any. Enacted and substantively enacted tax rates are used to determine future anticipated effective tax rates which in turn are used in the determination of deferred tax. These temporary differences are expected to result in taxable or deductible amounts in determining taxable profits for future periods when the carrying amount of the asset is recovered or the liability is settled. The principal temporary differences arise from depreciation of property, plant and equipment, provisions, unutilised capital allowances and tax losses carried forward. Deferred tax is not recognised for:  temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss;  temporary differences related to investments in subsidiaries, and interests in associates and joint ventures to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that these will not reverse in the foreseeable future; and  taxable temporary differences arising on the initial recognition of goodwill. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously. Deferred tax assets relating to the carry forward of unutilised tax losses and/or unutilised capital allowances are recognised to the extent it is probable that future taxable profit will be available against which the unutilised tax losses and/or unutilised capital allowances can be recovered. Deferred tax assets are reviewed at each reporting date and are adjusted if recovery is no longer probable. Unrecognised deferred tax assets are reassessed at each reporting date and recognised to the extent that it has become probable that future taxable profits will be available against which they can be utilised. 11.1 Royalties Revenue from mineral resources in South Africa are subject to the Mineral and Petroleum Resource Royalty Act 2008 (Royalty Act). The Royalty Act imposes a royalty on refined (mineral resources that have undergone a comprehensive level of beneficiation such as smelting and refining as defined in Schedule 1 of the Royalty Act) and unrefined (mineral resources that have undergone limited beneficiation as defined in Schedule 2 of the Royalty Act) minerals payable to the State. The royalty in respect of refined and unrefined minerals (which include gold refined to 99.5% and above, and PGMs) is calculated by dividing earnings before interest and taxes (EBIT) by the product of 12.5 times, in respect of refined, and 9 times, in respect of unrefined, gross revenue calculated as a percentage, plus an additional 0.5%. EBIT refers to taxable mining income (with certain exceptions such as no deduction for interest payable and foreign exchange losses) before assessed losses but after capital expenditure. A maximum royalty of 5% of mining revenue has been introduced on refined minerals and 7% on unrefined minerals. The effective rate of royalty tax payable for the year ended 31 December 2020 was approximately 0.5% (2019: 0.4% and 2018: 0.5%) of revenue at the SA gold operations and 3.0% (2019: 1.3% and 2018: 1.1%) of revenue at the SA PGM operations. Figures in million - SA rand Current charge (1,767.8) (431.0) (255.5) SA gold royalties (142.3) (73.7) (93.5) SA PGM royalties (1,625.5) (357.3) (162.0) Prior year royalty tax refund 2.8 - 42.9 Total royalties (1,765.0) (431.0) (212.6) 11.2 Mining and income tax South African statutory tax rates Gold mining, mining and non-mining tax Gold mining tax is determined according to a formula which takes into account the profit and revenue attributable to gold mining operations. Mining taxable income (SA PGM and SA gold) is determined after the deduction of all mining capital expenditure, with the provision that this cannot result in an assessed loss. Capital expenditure amounts not deducted are carried forward as unredeemed capital expenditure to be deducted from future mining income. Accounting depreciation is ignored for the purpose of calculating mining tax. In the gold mining tax formula, the percentage rate of tax payable and the ratio of gold mining profit, after the deduction of redeemable capital expenditure, to gold mining revenue is expressed as a percentage. Non-mining income consists primarily of interest income, third party gold processing and rental income and is taxed at the South African company tax rate of 28%. Company tax rate Companies, other than gold mining companies, are subject to the maximum South African company tax rate of 28%. US statutory tax rates The US PGM operations are subject to tax in the states of Montana, New Jersey and Pennsylvania. During the year ended 31 December 2018, the New Jersey Governor signed a number of bills that implement numerous tax changes which affected the US PGM operations. The most significant change in the law resulted in tax being calculated together on all US entities under common control (greater than 50% ownership). As a result of contract changes, US PGM operations experienced a shift of its state tax exposure out of New Jersey, effective 15 March 2019. Uncertainty over Income Tax treatments SRPM: As at 31 December 2020, certain tax principles applied by the Group with the acquisition of SRPM in 2016 were still open for review by the South African Revenue Service (SARS) following the Group’s response to the letter of audit findings issued by SARS and to date no assessments have been raised. Management is of the opinion that the relevant expenses were claimed correctly, and that requested information has been supplied to SARS on a timely basis. Consultation with External Legal counsel confirmed that no material payment is anticipated. Lonmin Management Services (LMS), South African branch of Lonmin Limited: During January 2021, SARS issued an assessment to the Group relating to a transfer pricing audit on LMS for the years of assessment 2011-2014. Applying the same principles as those applied by SARS, a further exposure could exist for subsequent years of assessment. Management is of the opinion that the basis on which the deductions under consideration were claimed was correct and will follow due process with SARS in objecting to the assessment. No material payment is anticipated. Mining and income tax The components of mining and income tax are the following: Figures in million - SA rand Note Current tax (5,374.3) (1,848.7) (95.3) Mining tax (4,442.1) (1,363.9) (36.8) Non-mining tax 68.0 3.1 (57.6) Company and capital gains tax (1,000.2) (487.9) (0.9) Deferred tax 516.1 3,581.7 (988.5) Deferred tax charge 570.1 2,030.7 306.7 Deferred tax rate adjustment 1 (54.0) 1,551.0 (1,295.2) Total mining and income tax (4,858.2) 1,733.0 (1,083.8) 1 The deferred tax rate adjustment in South Africa and the US was: Figures in million - SA rand South Africa (54.0) (23.1) 249.5 United States - 1,574.1 (1,544.7) Deferred tax rate adjustment (54.0) 1,551.0 (1,295.2) The change in the estimated long term deferred tax rate, as a result of applying the mining tax formula at the SA gold operations, at which the temporary differences will reverse amounted to a deferred tax charge of R54.0 million for the year ended 31 December 2020 (2019: charge of R23.1 million and 2018: benefit of R249.5 million) During year ended 31 December 2018, the New Jersey Governor signed a number of bills that implement numerous tax changes which affected the US PGM operations. The most significant change in the law resulted in tax being calculated together on all US entities under common control (greater than 50% voting ownership). This resulted in an increase in the estimated deferred tax rate relating to the US PGM operations and a deferred tax charge of R1,544.7 million (US$107.7 million) during 31 December 2018. With contract changes during 2019, the US PGM operations experienced a shift of its state tax exposure out of New Jersey state resulting in a deferred tax rate adjustment of R1,574.1 million (benefit) Reconciliation of the Group’s mining and income tax to the South African statutory company tax rate of 28%: Figures in million - SA rand Tax on profit before tax at maximum South African statutory company tax rate (28%) (9,934.3) 364.1 402.3 South African gold mining tax formula rate adjustment 117.7 (192.6) (53.0) US statutory tax rate adjustment 550.3 205.4 19.4 Non-deductible amortisation and depreciation (14.4) (14.7) (21.2) Non-taxable dividend received 21.0 2.1 15.4 Non-deductible finance expense 1 89.4 (86.3) (118.2) Non-deductible share-based payments (44.2) (81.3) (78.9) Non-deductible (loss)/gain on fair value of financial instruments (890.3) (571.1) 136.9 Non-taxable gain on foreign exchange differences 3.1 - 250.3 Non-taxable share of results of equity-accounted investees 475.9 201.9 96.4 Non-taxable reversal of impairments/(non-deductible impairments) 33.5 (21.9) (123.2) Non-taxable gain on acquisition - 308.8 - Non-deductible transaction costs (49.5) (94.4) (110.0) Tax adjustment in respect of prior periods 133.1 12.4 51.4 Net other non-taxable income and non-deductible expenditure 257.7 533.5 121.0 Change in estimated deferred tax rate (54.0) 1,551.0 (1,295.2) Previously unrecognised deferred tax assets utilised/(not recognised) 4,446.8 (383.9) (377.2) Mining and income tax (4,858.2) 1,733.0 (1,083.8) Effective tax rate (75.4)% 1 The non-deductible finance expense for 31 December 2020 is presented net after the reversal of an uncertain income tax treatment amounting to R181.5 million. This represents the conclusion on the section 163(j) interest limitation provided for by the US PGM operations under IFRIC 23 Uncertainty over Income Tax Treatments as at 31 December 2019 11.3 Deferred tax Figures in million - SA rand Notes Included in the statement of financial position as follows: Deferred tax assets (1,576.4) (288.9) (76.9) Deferred tax liabilities 7,631.0 6,656.8 10,153.2 Net deferred tax liabilities 6,054.6 6,367.9 10,076.3 Reconciliation of the deferred tax balance: Balance at beginning of the year 6,367.9 10,076.3 8,319.0 Deferred tax recognised in profit or loss (516.1) (3,581.7) 988.5 Deferred tax recognised in other comprehensive income 6.4 - (22.8) Deferred tax on acquisition of subsidiaries - - 132.2 Foreign currency translation 196.4 (126.7) 659.4 Balance at end of the year 6,054.6 6,367.9 10,076.3 The detailed components of the net deferred tax liabilities which result from the differences between the amounts of assets and liabilities recognised for financial reporting and tax purposes are: Figures in million - SA rand Deferred tax liabilities Mining assets 11,910.3 9,759.5 11,344.4 Environmental rehabilitation obligation funds 962.2 682.3 507.7 Other 206.7 208.7 284.7 Gross deferred tax liabilities 1 13,079.2 10,650.5 12,136.8 Deferred tax assets Environmental rehabilitation obligation (1,704.0) (1,109.2) (989.2) Occupational healthcare obligation (274.8) (333.3) (302.7) Other provisions (1,144.4) (482.4) (442.8) Financial instruments (426.8) (1,351.3) - Tax losses and unredeemed capital expenditure (3,436.7) (990.3) (304.5) Share-based payment obligation (37.9) (16.1) (21.3) Gross deferred tax assets 2,3 (7,024.6) (4,282.6) (2,060.5) Net deferred tax liabilities 6,054.6 6,367.9 10,076.3 1 The aggregate amount of temporary differences associated with investments in subsidiaries, for which no deferred tax liabilities have been recognised under the IAS 12.39 exemption at 31 December 2020, amounts to R25,955.0 million (2019: R12,075.0 million and 2018: R7,897.0 million) 2 Historically, deferred tax assets in WPL and EPL were only recognised to the extent of deferred tax liabilities since it was not considered probable that taxable profit would be available against which the future tax deductions could be utilised. At 31 December 2020, management recognised deferred tax assets on WPL and EPL in excess of deferred tax liabilities for the first time since it became probable that sufficient future taxable profits will be available. In total, net deferred tax assets of R951.0 million was recognised at 31 December 2020. The deferred tax asset recognition is supported by the profit history of WPL and EPL and a positive future taxable profit outlook 3 The amount of deductible temporary differences, unused tax losses as well as unredeemed capital expenditure for which no deferred tax asset is recognised in the statement of financial position, amounted to R36,408.0 million (2019: R46,220.2 million and 2018: R27,679.6 million). Tax losses are available to be utilised against income generated by the relevant tax entity and do not expire unless the tax entity concerned ceases to operate for a period of longer than one year for the South African operations. Under South African mining tax ring-fencing legislation, each tax entity is treated separately and as such these deductions can only be utilised by the tax entities in which the deductions have been generated. In Canada, tax losses expire after 20 years 11.4 Net tax, carbon tax and royalties payable/(receivable) Figures in million - SA rand Notes Included in the statement of financial position as follows: Tax receivable (148.0) (355.1) (483.2) Tax, carbon tax and royalties payable 796.3 508.9 88.0 Non-current portion of tax, carbon tax and royalties payable 8.6 59.1 - Current portion of tax, carbon tax and royalties payable 787.7 449.8 88.0 Net tax, carbon tax and royalties payable/(receivable) 648.3 153.8 (395.2) Reconciliation of the net tax, carbon tax and royalties payable/(receivable) balance: Balance at beginning of the year 153.8 (395.2) (147.9) Royalties, carbon tax and current tax 11.1, 11.2 7,144.5 2,292.6 307.9 Royalties and tax paid (6,524.6) (1,818.9) (542.2) Royalties paid (1,706.6) (411.5) (234.4) Tax paid (4,818.0) (1,407.4) (307.8) Tax payable on acquisition of subsidiaries - 68.7 4.4 Other - 18.6 - Foreign currency translation (125.4) (12.0) (17.4) Balance at end of the year 648.3 153.8 (395.2)

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2020
Earnings per share
EARNINGS PER SHARE	12. Earnings per share Accounting policy Headline earnings is presented as an additional earnings number allowed by IAS 33 Earnings per Share (IAS 33) and is calculated based on the requirements set out in SAICA Circular 1/2019 (Circular). Earnings, as determined in IAS 33, is the starting point and certain remeasurements net of related tax (current and deferred) and non-controlling interest are excluded. A remeasurement is an amount recognised in profit or loss relating to any change (whether realised or unrealised) in the carrying amount of an asset or liability that arose after the initial recognition of such asset or liability. 12.1 Basic earnings per share Basic earnings per share (EPS) is calculated by dividing the profit or loss attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year. Weighted average number of shares Ordinary shares in issue (’000) 2,923,571 2,670,030 2,266,261 Adjustment for weighting of ordinary shares in issue (’000) (194,680) (162,447) (2,404) Weighted average number of shares (’000) 2,728,891 2,507,583 2,263,857 Profit/(loss) attributable to owners of Sibanye-Stillwater (SA rand million) 29,311.9 62.1 (2,499.6) Basic EPS (cents) 1,074 2 (110) 12.2 Diluted earnings per share Diluted EPS is calculated by dividing the profit attributable to owners of Sibanye-Stillwater by the diluted number of ordinary shares in issue during the year. Dilutive shares are the number of potentially dilutive ordinary shares that could be issued as a result of share awards granted to employees under the equity-settled share-based payment schemes (refer to note 6). As at 31 December 2018, these were antidilutive. The US$ Convertible Bond was converted during October 2020 and was antidilutive for the years ended 31 December 2020, 2019 and 2018. Diluted weighted average number of shares Weighted average number of shares (’000) 2,728,891 2,507,583 2,263,857 Potential ordinary shares (’000) 49,061 71,371 - Diluted weighted average number of shares (’000) 2,777,952 2,578,954 2,263,857 Diluted basic EPS (cents) 1,055 2 (110) 12.3 Headline earnings per share Headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year. Reconciliation of profit/(loss) attributable to owners of Sibanye-Stillwater to headline earnings: Figures in million - SA rand Notes Gross Net of tax 2020 Profit attributable to owners of Sibanye-Stillwater 29,311.9 Gain on disposal of property, plant and equipment (98.8) (74.0) Reversal of impairments (121.4) (121.5) Derecognition of property, plant and equipment in Marathon project 37.0 28.0 Re-measurement items, attributable to non-controlling interest 1.1 Headline earnings 29,145.5 Headline EPS (cents) 1,068 2019 Profit attributable to owners of Sibanye-Stillwater 62.1 Gain on disposal of property, plant and equipment (76.6) (57.9) Impairments 86.0 66.6 Impairment of equity accounted associate 21.0 21.0 Gain on acquisition (1,103.0) (1,103.0) Re-measurement items, attributable to non-controlling interest 3.0 Headline earnings (1,008.2) Headline EPS (cents) (40) 2018 Loss attributable to owners of Sibanye-Stillwater (2,499.6) Gain on disposal of property, plant and equipment (60.2) (47.9) Impairments 3,041.4 2,530.9 Headline earnings (16.6) Headline EPS (cents) (1) 12.4 Diluted headline earnings per share Diluted headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the diluted weighted average number of ordinary shares in issue during the year. Diluted headline EPS (cents) 1,049 (40) (1)

Dividends

Dividends	12 Months Ended
	Dec. 31, 2020
Dividends
DIVIDENDS	13. D ividends Accounting policy Dividends are recognised as a liability on the date on which such dividends are declared. Dividends withholding tax is a tax on shareholders receiving dividends and is applicable to all dividends paid which are subject to dividend withholding tax based on the relevant tax requirements. The Group withholds dividend tax on behalf of its shareholders at a rate of 20% on dividends paid. Amounts withheld are not recognised as part of the Group’s tax charge but rather as part of the dividend paid, recognised in equity. Cash flows from dividends paid are classified under operating activities in the statement of cash flows. Figures in million - SA rand Dividend declared and paid (interim) 1,338.1 - - Dividend declared after 31 December 2020 (final) 9,485.5 - - Total dividends declared 10,823.6 - - Dividend per share (interim) - cents 50 - - Dividend per share (final) - cents 321 - - Dividend policy Sibanye-Stillwater’s dividend policy is to return at least 25% to 35% of normalised earnings to shareholders and after due consideration of future requirements the dividend may be increased beyond these levels. The Board, therefore, considers normalised earnings in determining what value will be distributed to shareholders. The Board believes normalised earnings provides useful information to investors regarding the extent to which results of operations may affect shareholder returns. Normalised earnings is defined as earnings attributable to the owners of Sibanye-Stillwater excluding gains and losses on financial instruments and foreign exchange differences, impairments, gain/loss on disposal of property, plant and equipment, occupational healthcare expense, restructuring costs, transactions costs, share-based payment on BEE transaction, gain on acquisition, net other business development costs, share of results of equity-accounted investees, after tax, and changes in estimated deferred tax rate. In line with Sibanye-Stillwater’s strategic priority of deleveraging and the commitment to shareholder returns, the Board of Directors resolved to pay a final dividend of 321 SA cents per share. Together with the interim dividend of 50 SA cents per share, which was declared and paid, this brings the total dividend for the year ended 31 December 2020 to 371 cents per share and this amounts to a payout of 35% of normalised earnings. Reconciliation of profit/(loss) attributable to the owners of Sibanye-Stillwater to normalised earnings: Figures in million - SA rand Profit/(loss) attributable to the owners of Sibanye-Stillwater 29,311.9 62.1 (2,499.6) Adjusted for: Loss/(gain) on financial instruments 2,450.3 6,015.1 (1,704.1) Loss/(gain) on foreign exchange differences 255.0 (325.5) (1,169.1) Gain on disposal of property, plant and equipment (98.8) (76.6) (60.2) (Reversal of impairments)/impairments (121.4) 86.0 3,041.4 Gain on acquisition - (1,103.0) - Restructuring costs 436.2 1,252.4 142.8 Transaction costs 138.6 447.8 402.5 Gain on derecognition of borrowings and derivative financial instrument - - (230.0) Occupational healthcare expense 52.3 (39.6) 15.4 Loss on BTT early settlement 186.2 - - Income on settlement of legal dispute (580.0) - - Loss due to dilution of interest in joint operation 30.2 - - Loss on settlement of US$ Convertible Bond 1,506.7 - - Other - - 18.7 Change in estimated deferred tax rate 54.0 (1,551.0) 1,295.2 Share of results of equity-accounted investees after tax (1,699.8) (721.0) (344.2) Tax effect of the items adjusted above (1,277.3) (1,643.8) (345.7) Non-controlling interest effect of the items listed above (36.9) (42.7) - Normalised earnings 1 30,607.2 2,360.2 (1,436.9) 1 Non-IFRS measure such as normalised earnings is the responsibility of the Group’s Board of Directors and presented for illustration purposes only, and because of its nature, normalised earnings should not be considered as a representation of financial performance under IFRS

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2020
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	14. Property, plant and equipment Significant accounting judgements and estimates Carrying value of property, plant and equipment All mining assets are amortised using the units-of-production method where the mine operating plan calls for production from proved and probable Mineral Reserves. Mobile and other equipment are depreciated over the shorter of the estimated useful life of the asset or the estimate of mine life based on proved and probable Mineral Reserves. The calculation of the units-of-production rate of amortisation could be impacted to the extent that actual production in the future is different from current forecast production based on proved and probable Mineral Reserves. This would generally result from the extent that there are significant changes in any of the factors or assumptions used in estimating Mineral Reserves. These factors could include:  changes in proved and probable Mineral Reserves;  differences between actual commodity prices and commodity price assumptions;  unforeseen operational issues at mine sites;  changes in capital, operating, mining, processing and reclamation costs, discount rates and foreign exchange rates; and  changes in Mineral Reserves could similarly impact the useful lives of assets depreciated on a straight-line basis, where those lives are limited to the life of the mine. The recoverable amounts of cash generating units (CGUs) and individual assets have been determined based on the higher of value-in-use calculations and fair value less cost to sell. These calculations require the use of estimates and assumptions. It is reasonably possible that the gold and PGM price assumptions may change which may then impact the Group estimated life of mine determinant and may then require a material adjustment to the carrying value of property, plant and equipment. The Group reviews and tests the carrying value of assets when events or changes in circumstances suggest that the carrying amount may not be recoverable by comparing expected future cash flows to these carrying values. Assets are grouped at the lowest level for which identifiable cash flows are largely independent of cash flows of other assets and liabilities. If there are indications that impairment may have occurred, estimates are prepared of expected future cash flows of each group of assets. Expected future cash flows used to determine the value in use and fair value less costs to sell of property, plant and equipment are inherently uncertain and could materially change over time. They are significantly affected by a number of factors including reserves and production estimates, together with economic factors such as spot and future gold and PGM prices, discount rates, foreign currency exchange rates, estimates of costs to produce reserves and future capital expenditure. Pre-production The Group assesses the stage of each mine construction project to determine when a mine moves into the production stage. The criteria used to assess the start date are determined based on the unique nature of each mine construction project. The Group considers various relevant criteria to assess when the mine is substantially complete, ready for its intended use and moves into the production stage. Some of the criteria would include, but are not limited to the following:  the level of capital expenditure compared to the construction cost estimates;  ability to produce metal in saleable form (within specifications); and  ability to sustain commercial levels of production of metal. When a mine construction project moves into the production stage, the capitalisation of certain mine construction costs ceases and costs are expensed, except for capitalisable costs related to mining asset additions or improvements, underground mine development or ore reserve development. Mineral Reserves estimates Mineral Reserves are estimates of the amount of product that can be economically and legally extracted from the Group’s properties. In order to calculate the reserves, estimates and assumptions are required about a range of geological, technical and economic factors, including but not limited to quantities, grades, production techniques, recovery rates, production costs, transport costs, commodity demand, commodity prices and exchange rates. Estimating the quantity and grade of the Mineral Reserves requires the size, shape and depth of ore bodies to be determined by analysing geological data such as the logging and assaying of drill samples. This process may require complex and difficult geological judgements and calculations to interpret the data. The Group is required to determine and report, inter alia , on the Mineral Reserves in accordance with the South African Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code). Estimates of Mineral Reserves may change from period to period due to the change in economic assumptions used to estimate Mineral Reserves and due to additional geological data becoming available during the course of operations. Changes in reported proven and probable reserves may affect the Group’s financial results and position in a number of ways, including the following:  asset carrying values may be affected due to changes in estimated cash flows;  depreciation and amortisation charges to profit or loss may change where these are calculated on the units-of production method, or where the useful lives of assets change;  decommissioning site restoration and environmental provisions may change where changes in ore reserves affect expectations about the timing or cost of these activities; and  the carrying value of deferred tax assets may change due to changes in estimates of the likely recovery of the tax benefits. Accounting policy Mineral and surface rights Mineral and surface rights are recorded at cost less accumulated amortisation and accumulated impairment losses. When there is little likelihood of a mineral right being exploited, or the carrying amount has exceeded its recoverable amount, impairment is recognised in profit or loss in the year that such determination is made. Mine development and infrastructure Mining assets, including mine development and infrastructure costs and mine plant facilities, are recorded at cost less accumulated depreciation and accumulated impairment losses. Costs include the purchase price of assets used in the construction of the mine, expenditure incurred to evaluate and develop new ore bodies, as well as expenditure to define mineralisation in existing ore bodies and to establish or expand productive capacity. These costs are capitalised until commercial levels of production are achieved, at which times the costs are amortised as set out below. Development of ore bodies includes the development of shaft systems and waste rock removal that allows access to reserves that are economically recoverable in the future. Subsequent to this, costs are capitalised if the criteria for recognition as an asset are met. Access to individual ore bodies exploited by the Group is limited to the time span of the respective mining leases. Land Land is shown at cost and is not depreciated. Other assets Non-mining assets are recorded at cost less accumulated depreciation and accumulated impairment losses, except for land which is not depreciated. These assets include the assets of the mining operations that are not included in mine development and infrastructure. It also includes borrowing costs, mineral and surface rights, land and all the assets of the non-mining operations. Amortisation and depreciation of mining assets Amortisation and depreciation is determined to give a fair and systematic charge in profit or loss taking into account the nature of a particular ore body and the method of mining that ore body. To achieve this, the following calculation methods are used:  Mining assets, including mine development and infrastructure costs, mine plant facilities and evaluation costs, are amortised over the life of the mine using the units-of-production method, based on estimated proved and probable Mineral Reserves.  Proved and probable Mineral Reserves reflect estimated quantities of economically recoverable reserves, which can be recovered in future from known mineral deposits.  Certain mining plant and equipment included in mine development and infrastructure is depreciated on a straight-line basis over their estimated useful lives.  For certain shafts, which have a short life and/or are marginal, the depreciation is accelerated based on an adjustment to the reserves for accounting purposes. Depreciation of non-mining assets Non-mining assets are recorded at cost and depreciated on a straight-line basis over their current expected useful lives to their residual values as follows:  Vehicles: 5 years  Computers: 3 years  Furniture and equipment: 1 - 10 years The assets’ useful lives, depreciation methods and residual values are reassessed at each reporting date and adjusted if appropriate. Impairment Recoverability of the carrying values of long-term assets or CGUs of the Group are reviewed whenever events or changes in circumstances indicate that such carrying value may not be recoverable. To determine whether a long-term asset or CGU may be impaired, the higher of value in use (defined as: the present value of future cash flows expected to be derived from an asset or CGU) or fair value less costs to sell (defined as: the price that would be received to sell an asset in an orderly transaction between market participants at the measured rate, less the costs of disposal) is compared to the carrying value of the CGU. A CGU is defined by the Group as the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Generally for the Group this represents an individual operating mine, including mines which are part of a larger mine complex. The costs attributable to individual shafts of a mine are impaired if the shaft is closed. Impairment losses are recognised in profit or loss. Impairment recognised in respect of a CGU is allocated first to goodwill to that particular CGU and thereafter to the individual assets in the CGU. When any infrastructure is closed down or placed on care and maintenance during the year, any carrying value attributable to that infrastructure is impaired. Expenditure incurred on care and maintenance is recognised in profit or loss. When the review of the events or changes in circumstances of an asset or CGU that was previously impaired indicate that such historical carrying value is recoverable, the impairment is reversed. The impairment is only reversed to such an amount that the new carrying amount does not exceed what the historical carrying amount would have been should the asset not have been impaired. Reversal of impairment losses are recognised in profit or loss. Reversal of impairment recognised in respect of a CGU is allocated to the individual assets in the CGU. Derecognition of property, plant and equipment Property, plant and equipment is derecognised on disposal or closure of a shaft when no future economic benefits are expected from its use or disposal. Any gain or loss on derecognition of an item of property, plant and equipment (calculated as the net proceeds from disposal and the carrying amount of the item) is recognised in profit or loss. Exploration and evaluation expenditure All exploration and evaluation expenditure, prior to obtaining the legal rights to explore a specific area, is recognised in profit or loss. After the legal rights to explore are obtained, exploration and evaluation expenditure, comprising the costs of acquiring prospecting rights and directly attributable exploration expenditure, is capitalised as a separate class of property, plant and equipment or intangible assets, on a project-by-project basis, pending determination of the technical feasibility and commercial viability. The technical feasibility and commercial viability of extracting a mineral resource is generally considered to be determinable through a feasibility study and when proven reserves are determinable to exist. Upon determination of proven reserves, exploration and evaluation assets attributable to those reserves are first tested for impairment and then reclassified from exploration and evaluation assets to another appropriate class of property, plant and equipment. Subsequently, all cost directly incurred to prepare an identified mineral asset for production is capitalised to mine development assets. Amortisation of these assets commences once these assets are available for use, which is expected to be when the mine is in commercial production. These assets will be measured at cost less accumulated amortisation and impairment losses. Figures in million - SA rand Notes Total Mine Land, mineral Exploration 2020 Cost Balance at beginning of the year 107,285.1 82,046.6 23,209.5 2,029.0 Additions 1 9,711.7 9,656.1 14.2 41.4 Change in estimates of rehabilitation assets 2 (383.9) (108.2) (270.3) (5.4) Disposals (62.9) (42.5) (20.4) - Derecognition of property, plant and equipment 3 (1,968.3) (1,905.2) (63.1) - Transfers between classes of property, plant and equipment - (28.9) 28.9 - Transfers to right-of-use assets (1.7) (1.7) - - Assets derecognised on loss with dilution of interest in joint operation (37.0) (0.5) (0.7) (35.8) Foreign currency translation 1,411.1 478.1 923.6 9.4 Balance at end of the year 115,954.1 90,093.8 23,821.7 2,038.6 Accumulated depreciation, amortisation and impairment Balance at beginning of the year 49,804.9 43,877.5 4,302.6 1,624.8 Amortisation and depreciation 7,468.0 6,646.7 753.4 67.9 Impairment 0.5 - - 0.5 Disposals (60.4) (41.1) (19.3) - Derecognition of property, plant and equipment (1,968.3) (1,905.2) (63.1) - Depreciation capitalised to inventory 117.1 117.1 - - Foreign currency translation (7.7) (38.2) 24.3 6.2 Balance at end of the year 55,354.1 48,656.8 4,997.9 1,699.4 Carrying value at end of the year 60,600.0 41,437.0 18,823.8 339.2 1 During the year, amortisation and depreciation on assets used in the development of the Blitz project was capitalised. As a result, additions include non-cash additions (or amortisation and depreciation capitalised) of R96.1 million 2 Includes a decrease to the environmental rehabilitation obligation of R317.6 million, decrease to the right of recoverability liability of R40.3 million and an increase to the right of recoverability asset of R26.0 million 3 During the year, short-term ore reserve development, which was capitalised up to 31 December 2018 and fully depreciated by 2020, was derecognised as no future economic benefits are expected from its use Figures in million - SA rand Notes Total Mine Land, mineral Exploration 2019 Cost Balance at beginning of the year 99,994.6 72,811.2 25,095.3 2,088.1 Additions 1 7,803.0 7,790.9 0.4 11.7 Change in estimates of rehabilitation assets 2 101.0 (99.4) 200.4 - Disposals (281.8) (281.2) (0.6) - Derecognition of property, plant and equipment 3 (2,409.9) (695.0) (1,714.9) - Transfers between classes of property, plant and equipment - (94.9) 94.9 - Transfers to right-of-use assets (18.8) (18.8) - - Assets acquired on acquisition of subsidiaries 3,158.6 3,152.1 6.5 - Assets derecognised on loss of control of subsidiary (62.7) - - (62.7) Foreign currency translation (998.9) (518.3) (472.5) (8.1) Balance at end of the year 107,285.1 82,046.6 23,209.5 2,029.0 Accumulated depreciation, amortisation and impairment Balance at beginning of the year 45,436.4 38,576.2 5,276.4 1,583.8 Amortisation and depreciation 7,102.4 6,275.2 788.2 39.0 Impairment 5.1 - - 5.1 Disposals (257.4) (257.4) - - Derecognition of property, plant and equipment (2,409.9) (695.0) (1,714.9) - Transfers to right-of-use assets (15.5) (15.5) - - Depreciation capitalised to inventory 111.4 111.4 - - Foreign currency translation (167.6) (117.4) (47.1) (3.1) Balance at end of the year 49,804.9 43,877.5 4,302.6 1,624.8 Carrying value at end of the year 57,480.2 38,169.1 18,906.9 404.2 1 During the year, amortisation and depreciation on assets used in the development of the Blitz project was capitalised. As a result, additions include non-cash additions (or amortisation and depreciation capitalised) of R85.5 million 2 Includes an increase to the environmental rehabilitation obligation of R105.1 million, decrease to the right of recoverability liability of R11.1 million and a decrease to the right of recoverability asset of R7.0 million 3 During the year, short-term ore reserve development, which was capitalised up to 31 December 2017 and fully depreciated by 2019, was derecognised as no future economic benefits are expected from its use Figures in million - SA rand Notes Total Mine Land, mineral Exploration 2018 Cost Balance at beginning of the year 101,720.7 76,529.2 21,807.9 3,383.6 Additions 1 7,107.5 7,034.6 (0.5) 73.4 Change in estimates of rehabilitation assets 618.8 - 618.8 - Disposals (171.2) (168.1) (3.1) - Derecognition of property, plant and equipment 2 (14,416.4) (14,287.7) (128.7) - Transfers between classes of property, plant and equipment - 192.8 134.5 (327.3) Assets acquired on acquisition of subsidiaries 1,443.2 1,325.0 50.0 68.2 Assets derecognised on loss of control of subsidiary (1,322.3) (12.5) - (1,309.8) Foreign currency translation 5,014.3 2,197.9 2,616.4 200.0 Balance at end of the year 99,994.6 72,811.2 25,095.3 2,088.1 Accumulated depreciation, amortisation and impairment Balance at beginning of the year 50,276.1 44,308.9 4,471.0 1,496.2 Amortisation and depreciation 6,640.6 5,900.8 739.8 - Impairment 2,603.3 2,461.5 70.8 71.0 Disposals (77.2) (75.9) (1.3) - Derecognition of property, plant and equipment 2 (14,416.4) (14,287.7) (128.7) - Assets derecognised on loss of control of subsidiary (10.9) (10.9) - - Foreign currency translation 420.9 279.5 124.8 16.6 Balance at end of the year 45,436.4 38,576.2 5,276.4 1,583.8 Carrying value at end of the year 54,558.2 34,235.0 19,818.9 504.3 1 During the year, amortisation and depreciation on assets used in the development of the Burnstone project was capitalised. As a result, additions include non-cash additions (or amortisation and depreciation capitalised) of R26.8 million 2 During the year, short-term ore reserve development, which was capitalised up to 31 December 2016 and fully depreciated by 2018, was derecognised as no future economic benefits are expected from its use placehold

Right-of-use asset

Right-of-use asset	12 Months Ended
	Dec. 31, 2020
Right-of-use asset
Right-of-use asset	15. Right-of-use assets Accounting policy Right-of-use assets comprise mining equipment, vehicles and office rentals (included in the mine development, infrastructure ) of which none meet the definition of investment property. These right-of-use assets comprise the initial measurement of the corresponding lease liability, any initial direct costs incurred by the lessee, and an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset. Right-of-use assets are subsequently measured at cost less accumulated depreciation and impairment losses if applicable. The assets are depreciated over the shorter period of the lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset, or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the related right-of use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. Refer to the lease liabilities note (refer note 29 ) for additional detail. Figures in million - SA rand Notes Balance at beginning of the year 360.9 - - Impact of adopting IFRS 16 on 1 January 2019 - 302.0 - Additions and modifications 65.6 43.6 - Right-of-use assets acquired on acquisition of subsidiaries (Lonmin acquisition) - 133.3 - Depreciation (124.4) (111.7) - Transfers and other movements (7.6) (5.7) - Foreign currency translation 1.1 (0.6) - Balance at end of the year 295.6 360.9 -

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Acquisitions
ACQUISITIONS	16. Acquisitions Significant accounting judgements and estimates Expected future cash flows used to determine the fair value of, inter alia , property, plant and equipment and contingent consideration are inherently uncertain and could materially change over time. The fair value is significantly affected by a number of factors including reserves and production estimates, together with economic factors such as the expected commodity price, foreign currency exchange rates, and estimates of production costs, future capital expenditure and discount rates. Accounting policy Business combinations The acquisition method of accounting is used to account for business combinations by the Group. The consideration transferred for the acquisition of a business is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Any contingent consideration is measured at fair value at the date of acquisition. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. Subsequently, the carrying amount of non-controlling interest is the amount of the interest at initial recognition plus the non-controlling interest’s share of the subsequent changes in equity, plus or minus changes in the portion of interest of the equity of the subsidiary not attributable, directly or indirectly, to Sibanye-Stillwater shareholders. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is a gain recognised directly in profit or loss. Statement of cash flows The acquisition date fair value of deferred payments and contingent consideration relating to business combinations is part of the aggregate consideration for obtaining control of the underlying net assets. Therefore, unless the obligations are clearly part of the borrowing structure of the group, repayments of the acquisition date fair value are classified as investing activities. Additional deferred/ contingent payments in excess of the grant date fair value are considered to be operating activity cash flows by nature. 16.1 Lonmin acquisition On 14 December 2017, Sibanye-Stillwater announced that it had reached an agreement with Lonmin Plc (Lonmin) on the terms of a recommended all-share offer to acquire the entire issued and to be issued ordinary share capital of Lonmin (the Lonmin Acquisition). The Lonmin Acquisition was effected by means of a scheme of arrangement between Lonmin and the Lonmin shareholders under Part 26 of the UK Companies Act. Under the initial terms of the Lonmin Acquisition, each Lonmin shareholder was entitled to receive: 0.967 new Sibanye-Stillwater shares for each Lonmin share (Initial offer). On 15 May 2018, Sibanye-Stillwater received South African Reserve Bank approval for the proposed acquisition of Lonmin and on 28 June 2018, the proposed Lonmin transaction was unconditionally cleared by the UK Competition and Markets Authority. On 21 November 2018, Sibanye-Stillwater announced that the Competition Tribunal had approved the proposed acquisition of Lonmin, subject to specific conditions. In addition to the conditions agreed between Sibanye-Stillwater and the Competition Commission, a further condition had been imposed by the Competition Tribunal, namely a moratorium on retrenchments at the Lonmin operations for a period of six months from the implementation date. On 25 April 2019, the boards of Sibanye-Stillwater and Lonmin reached agreement on the terms of an increased recommended all-share offer pursuant to which Sibanye-Stillwater, and/or a wholly owned subsidiary of Sibanye-Stillwater, was to acquire the entire issued and to be issued ordinary share capital of Lonmin (the Increased Offer). Under the terms of the Increased Offer, Lonmin shareholders was entitled to receive one new Sibanye-Stillwater share for each Lonmin share. The Lonmin Transaction (or scheme) was approved by the UK Court and on 7 June 2019 (effective date) and all the conditions precedent to the Lonmin Transaction were fulfilled. Sibanye-Stillwater obtained control of Lonmin on this date. The effective date of the implementation of the Lonmin Transaction was 10 June 2019, when Lonmin's listing on the Financial Conduct Authority's Official List and the trading of Lonmin shares on the London Stock Exchange's Main Market for listed securities was suspended, and 290,394,531 new Sibanye-Stillwater shares were listed on the Johannesburg Stock Exchange. The year end of Lonmin has been changed to 31 December 2019 and Lonmin was consolidated from the effective date. For the seven months ended 31 December 2019, the Marikana operations contributed revenue of R11,188 million and a net profit of R1,881 million to the Group’s results. The purchase price allocation (PPA) on the effective date was prepared on a provisional basis in accordance with IFRS 3 Business Combinations. During the measurement period, management provisionally revised the initial PPA due to new information obtained in accordance with IFRS 3. Since provisionally revising the initial PPA and up to one year of the acquisition date, no further information was obtained that required adjustments to the amounts recognised. Consideration The fair value of the consideration is as follows: Figures in million - SA rand Equity instruments (290,394,531 ordinary shares) 4,306.6 Total consideration 4,306.6 Acquisition related costs The Group incurred total acquisition related costs of R436.8 million (2020: R8.0 million, 2019: R283.9 million, 2018: R117.2 million, and prior to 2018: R27.7 million) on advisory and legal fees. These costs are recognised as transaction costs in profit or loss during the period in which incurred. Identified assets acquired and liabilities assumed The following table summarises the recognised amounts of assets acquired and liabilities assumed at the acquisition date: Figures in million - SA rand Notes Property, plant and equipment 3,158.6 Right-of-use assets 133.3 Other investments 320.8 Environmental rehabilitation obligation funds 443.2 Other non-current assets 395.0 Inventories 5,219.5 Trade and other receivables 925.3 Other current assets 14.6 Cash and cash equivalents 2,999.3 Lease liabilities (133.3) Environmental rehabilitation obligation and other provisions (1,696.9) Other non-current liabilities (863.0) Borrowings (2,574.8) Trade and other payables (2,585.7) Other current liabilities (99.3) Total fair value of identifiable net assets acquired 1 5,656.6 1 Fair value of assets and liabilities excluding property, plant and equipment, inventories, borrowings, non-current liabilities and environmental rehabilitation obligation approximate the carrying value The fair value of property, plant and equipment was based on the expected discounted cash flows of the expected ore reserves and costs to extract the ore discounted at a real discount rate of 13.5% for the Marikana operations, an average platinum price of US$1,025/oz and an average palladium price of US$1,170/oz The fair value of inventories was based on the estimated selling price less costs to complete and costs to sell The fair value of borrowings is based on the settlement price. The Group restructured the Lonmin group entities funding arrangements to optimise financing costs. The Lonmin Pangaea Investments Management Limited (PIM) prepayment arrangement of US$174.3 million was fully settled by cash on hand and available within the Lonmin group on 5 July 2019 The fair value of other non-current liabilities is calculated based on a discounted cash flows using an effective discount rate of 12.5% The fair value of environmental rehabilitation obligation is calculated with updated life of mines used in the discounted cash flows of property, plant and equipment Gain on acquisition A gain on acquisition has been recognised as follows: Figures in million - SA rand Consideration 4,306.6 Fair value of identifiable net assets acquired (5,656.6) Non-controlling interest, based on the proportionate interest in the recognised amounts of assets and liabilities 1 247.0 Gain on acquisition (1,103.0) 1 The amount recognised as non-controlling interest represents the non-controlling interest holders’ effective proportionate share in the fair value of the identifiable net assets acquired The excess of the fair value of the net assets acquired over the consideration is recognised immediately in profit or loss as a gain on acquisition. The gain on acquisition is attributable to the transaction being attractively priced, and is consistent with the statement by the boards of Sibanye-Stillwater and Lonmin, that the purchase price reflected the recovery in PGM prices at the time of the increased offer, balanced against the fact that Lonmin, pre-acquisition, was financially constrained and unable to fund the significant investment required to sustain its business and associated employment. 16.2 SFA (Oxford) acquisition On 21 February 2019, Sibanye-Stillwater announced it had agreed to acquire SFA (Oxford) Limited (SFA Oxford), an established analytical consulting company that is a globally recognised authority on PGMs and has for several years provided in-depth market intelligence on battery materials and precious metals for industrial, automotive, and smart city technologies. The purchase consideration comprised an upfront payment of GBP4 million (R74.7 million) at the closing of the transaction and a deferred payment (contingent consideration), subject to a maximum payment of GBP6 million (refer note 22.2). The acquisition was subject to the fulfilment of various conditions precedent which were completed on 4 March 2019. Sibanye-Stillwater obtained control (100%) on this date. The PPA was prepared on a provisional basis in accordance with IFRS 3 at the effective date. No new information was obtained within one year of the acquisition date that required adjustments to the amounts recognised. Figures in million - SA rand Consideration 127.1 Fair value of identifiable net assets acquired (4.4) Goodwill 122.7 The goodwill is attributable to the talent and skills of SFA (Oxford)’s workforce. The goodwill has been allocated to the Stillwater, Rustenburg and Kroondal cash generating units (refer note 17). None of the goodwill recognised is expected to be deducted for tax purposes. 16.3 Qinisele Resources acquisition On 29 October 2019, Sibanye-Stillwater entered in to a sale of shares agreement to buy the entire issued share capital of Qinisele Resources, a boutique advisory company that specialises in corporate finance, investor relations and research for a total of R54.8 million. The acquisition was subject to the fulfilment of various conditions precedent which were completed on 31 October 2019 and Sibanye-Stillwater obtained control (100%) on 1 November 2019 (acquisition date). The PPA was prepared on a provisional basis in accordance with IFRS 3 at the effective date. No new information was obtained within one year of the acquisition date that required adjustments to the amounts recognised. Figures in million - SA rand Consideration 54.8 Fair value of identifiable net assets acquired (0.5) Goodwill 54.3 The goodwill is attributable to the experience and skills of Qinisele’s workforce (refer note 17). 16.4 DRDGOLD acquisition On 22 November 2017, Sibanye-Stillwater announced that it had entered into various agreements with DRDGOLD in terms of which, Sibanye-Stillwater will exchange selected surface gold processing assets and TSF (the “Far West Gold Recoveries”, previously known as the WRTRP) for approximately 265 million newly issued DRDGOLD shares (the DRDGOLD Transaction), or 38.05% of the issued share capital of DRDGOLD. In addition, pursuant to the DRDGOLD Transaction, Sibanye-Stillwater had an option to subscribe for a sufficient number of DRDGOLD ordinary shares to attain a 50.1% shareholding in DRDGOLD at a 10% discount to the 30 day volume weighted average traded price (refer note 27). Sibanye-Stillwater received approval for the DRDGOLD Transaction from the South African competition authorities in accordance with the Competition Act and on 19 July 2018 all the conditions precedent to the DRDGOLD Transaction were fulfilled. Sibanye-Stillwater obtained control (38.05%) of DRDGOLD on this date. The effective date of the implementation of the DRDGOLD Transaction was 31 July 2018, when Sibanye-Stillwater was issued the newly issued DRDGOLD shares. DRDGOLD has a 30 June year end and is consolidated from 31 July 2018 based on its results to 31 December 2018. For the five months ended 31 December 2018, DRDGOLD contributed revenue of R1,047.5 million and a net loss of R39.9 million to the Group’s results, before Sibanye-Stillwater Group adjustments. Acquisition related costs The Group incurred acquisition related costs of R25.0 million on advisory and legal fees. These costs are recognised as transaction costs in profit or loss. Identifiable assets acquired and liabilities assumed The following table summarises the recognised fair value of assets acquired and liabilities assumed at the acquisition date: Figures in million – SA rand Notes Property, plant and equipment 1 1,443.2 Environmental rehabilitation obligation funds 244.7 Other non-current assets 28.7 Inventories 243.5 Trade and other receivables 138.4 Cash and cash equivalents 282.8 Environmental rehabilitation obligation and other provisions (672.7) Deferred tax liabilities (132.2) Other non-current liabilities (54.9) Trade and other payables (337.1) Other current liabilities (17.6) Total fair value of identifiable net assets acquired 1,166.8 1 The fair value of property, plant and equipment was based on the expected discounted cash flows of the expected ore reserves and costs to extract the ore discounted at a real discount rate of 9.3% and an average gold price of R580,000/kg Goodwill Goodwill arising from the acquisition has been recognised as follows: Figures in million – SA rand Note Transaction with DRDGOLD shareholders (Consideration) 1 261.4 Fair value of identifiable net assets acquired (1,166.8) Non-controlling interest, based on the proportionate interest in the recognised amounts of assets and liabilities 2 940.3 Goodwill 34.9 1 The purchase consideration was calculated as 61.95% of the fair value of Far West Gold Recoveries assets and liabilities. The fair value of assets and liabilities, excluding property, plant and equipment, approximate the carrying value. The fair value of property, plant and equipment was based on the expected discounted cash flows of the expected ore reserves and costs to extract the ore discounted at a real discount rate of 13.8%, an average gold price of R580,000/kg. Although Sibanye-Stillwater exchanged (i.e. disposed) the Far West Gold Recoveries assets and liabilities, the Group effectively retains control. The transaction with DRDGOLD shareholders, therefore, represents the difference between 61.95% of the fair value and carrying value of Far West Gold Recoveries assets and liabilities 2 Non-controlling interest was based on the proportionate interest (of 61.95%) in the carrying value of the Far West Gold Recoveries assets and liabilities, and fair value of the DRDGOLD net assets and liabilities acquired The goodwill is attributable to DRDGOLD’s proven surface retreatment capabilities. Refer to note 17 for the allocation of goodwill. None of the goodwill recognised is expected to be deducted for tax purposes.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2020
GOODWILL.
GOODWILL	17. Goodwill Significant accounting judgements and estimates Goodwill is tested for impairment on an annual basis and whenever impairment indicators are identified. Expected future cash flows used to determine the recoverable amount of property, plant and equipment and goodwill are inherently uncertain and could materially change over time. The recoverable amount is significantly affected by a number of factors including reserves and production estimates, together with economic factors such as the expected commodity price, foreign currency exchange rates, and estimates of production costs, future capital expenditure and discount rates. An individual operating mine does not have an indefinite life because of the finite life of its reserves. The allocation of goodwill to an individual mine will result in an eventual goodwill impairment due to the wasting nature of the mine. Accounting policy Goodwill is stated at cost less accumulated impairment losses. In accordance with the provisions of IAS 36 Impairment of Assets , the Group performs its annual impairment review of goodwill at each financial year end or whenever there are impairment indicators to establish whether there is any indication of impairment to goodwill. Goodwill is allocated to CGUs for the purpose of impairment testing. The allocation is made to those CGUs or groups of CGUs that are expected to benefit from the business combination in which the goodwill arose. An impairment is made if the carrying amount exceeds the recoverable amount. The recoverable amount is determined as the higher of “value in use” and “fair value less cost to sell”, based on the cash flows over the life of the CGUs and discounted to present value at an appropriate discount rate. Impairment losses on goodwill are not reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill allocated to the entity sold. Figures in million - SA rand Note Balance at beginning of the year 6,854.9 6,889.6 6,396.0 Impairment - (54.3) (436.3) Goodwill on acquisition of subsidiaries - 176.9 34.9 Foreign currency translation 310.3 (157.3) 895.0 Balance at end of the year 7,165.2 6,854.9 6,889.6 The goodwill arose on the acquisition of Cooke, Aquarius, Stillwater, DRDGOLD, SFA (Oxford) and Qinisele Resources. The goodwill on acquisition of:  SFA (Oxford), amounting to R122.7 million, is attributable to the talent and skills of SFA (Oxford)’s workforce. At year-end, the goodwill on acquisition of SFA (Oxford) is allocated to the Stillwater (R60.2 million), Rustenburg (R44.3 million) and Kroondal (R18.2 million) CGUs, where it is tested for impairment. No impairment has been recognised.  Qinisele Resources, amounting to R54.3 million, cannot be attributed to any current Sibanye-Stillwater operating cash generating units. Qinisele Resources will perform an internal corporate function, mostly responsible for identifying, assessing and executing corporate actions. The business acquired will not generate external cash flows and has no future external mandates. None of the goodwill recognised is expected to be deducted for tax purposes. Due to the factors mentioned, the recoverable amount of goodwill resulting from the application of IFRS 3 has been calculated at zero at acquisition in 2019 and fully impaired at year-end (refer note 10).  Cooke, amounting to R736.7 million, was attributable to the synergies at the Group’s other operations, and the underlying assets of Cooke and WRTRP. During the year ended 31 December 2016, the goodwill allocated to the Cooke CGU was impaired by R201.3 million. During the year ended 31 December 2017, the goodwill allocated to the WRTRP CGU was impaired by R99.1 million. During the year ended 31 December 2018, the goodwill allocated to the Driefontein, Kloof and Beatrix CGUs was impaired by R436.3 million.  Aquarius, amounting to R400.6 million, was attributable to the synergies between the PGM assets in the Rustenburg area. At year end, the goodwill on acquisition of Aquarius is allocated to the Kroondal (R133.5 million) and the Rustenburg operation (R267.1 million) CGUs, where it is tested for impairment. No impairment has been recognised.  Stillwater, amounting to R5,873.9 million (US$449.7 million), was attributable to the premium paid, and the talent and skills of Stillwater’s workforce, and is allocated to the Stillwater CGU, where it is tested for impairment. No impairment has been recognised.  DRDGOLD, amounting to R34.9 million, was attributable to DRDGOLD’s proven surface retreatment capabilities, and is allocated to the DRDGOLD CGU, where it is tested for impairment. No impairment has been recognised. The recoverable amount of goodwill was calculated based on the value in use of the CGUs to which to goodwill was allocated. None of the goodwill recognised is expected to be deducted for tax purposes. The Group’s estimates and assumptions used in the 31 December 2020 impairment testing include: PGM operations Gold operations Long-term gold price R/kg R/4Eoz Long-term PGM (4E) basket price US$/2Eoz Long-term PGM (2E) basket price 18.8 - 19.7 % Nominal discount rate – South Africa 1 % 9.66 - 13.58 % Nominal discount rate – United States % Inflation rate – South Africa % % Inflation rate – United States 12 - 28 13 - 35 12 - 39 years Life of mine years 3 - 13 6 - 18 5 - 20 1 Nominal discount rate for the Burnstone project is 16.8% (2019: 17.1%, 2018: 17.4%) and for the equity accounted joint venture Mimosa, 28.4% (2019: 23.3%, 2018: 19.1%) The cash flows are based on the annual life-of-mine plan that takes into account the following:  proved and probable ore reserves of the CGUs;  cash flows are based on the life-of-mine plan; and  capital expenditure estimates over the life-of-mine plan. The recoverable amounts of the operating CGUs are sufficiently higher than the carrying values, therefore a reasonably possible adverse change in the abovementioned assumptions would not likely result in an adjustment to the carrying values .

Equity accounted investments

Equity accounted investments	12 Months Ended
	Dec. 31, 2020
Equity-accounted investments
EQUITY-ACCOUNTED INVESTMENTS	18. Equity-accounted investments Significant accounting judgements and estimates Joint arrangements Judgement is required to determine when the Group has joint control, which requires an assessment of the relevant activities and when the decisions in relation to those activities require unanimous consent. The Group has determined that the relevant activities for its joint arrangements are those relating to the operating and capital decisions of the arrangement, such as the approval of the capital expenditure programme for each year, and appointing, remunerating and terminating the key management personnel or service providers of the joint arrangement. The considerations made in determining joint control are similar to those necessary to determine control over subsidiaries. Judgement is also required to classify a joint arrangement as either a joint operation or a joint venture. Classifying the arrangement requires the Group to assess their rights and obligations arising from the arrangement. Specifically, it considers: · The structure of the joint arrangement – whether it is structured through a separate vehicle. · When the arrangement is structured through a separate vehicle, the Group also considers the rights and obligations arising from: – the legal form of the separate vehicle; and – the terms of the contractual arrangement This assessment often requires significant judgement, and a different conclusion on joint control and also whether the arrangement is a joint operation or a joint venture may materially impact the accounting. Carrying value of Mimosa and related Mineral Reserves and Mineral Resources estimates The Group reviews and tests the carrying value when events or changes in circumstances suggest that the carrying amount may not be recoverable by comparing expected future cash flows to the carrying value. Expected future cash flows used to determine the value in use and fair value less costs to sell of Mimosa are inherently uncertain and could materially change over time. These are significantly affected by a number of factors including reserves and production estimates, together with economic factors such as spot and future PGM prices, discount rates, foreign currency exchange rates, estimates of costs to produce reserves and future capital expenditure. Mineral resources outside the approved mine plans are valued based on the in situ 4E ounce value. Comparable market transactions are used as a source of evidence adjusting specifically for the nature of each underlying ore body. Mimosa functional currency The functional currency of Mimosa, which is domiciled in Zimbabwe, has been determined as US dollar. The local currency in Zimbabwe changed to RTGS dollar during February 2019. As a result of this change, management reassessed whether there is a change in the functional currency of Mimosa. This assessment depends on the primary economic environment in which the company operates, which is considered to be the environment in which it generates and expends cash. These considerations include the currency primarily influencing sales prices, the country whose competitive forces and regulations mainly determine sales prices and the currency that influences labour, material and other costs of production. Judgements and assumptions made in determining the functional currency may have a significant impact on the results presented for the Group. The determining factors in the above assessment were: · The currency that mainly influences sales prices: Sales are invoiced and settled in US dollar · The currency of the country whose competitive forces and regulations mainly determine the sales prices: The competitive forces and regulations of the US primarily influences sales prices · The currency that mainly influences labour, material and other costs: The majority of operating costs are settled in US dollar Accounting policy The Group’s interest in equity-accounted investees comprise interests in associates and joint ventures. Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies. Joint ventures are arrangements in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in associates and joint ventures are accounted for using the equity method. The interests are initially recognised at cost using the same principles as with business combinations. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of profit or loss and other comprehensive income of equity-accounted investees until the date on which significant influence or joint control ceases. Results of associates and joint ventures are equity-accounted using the results of their most recent audited annual financial statements or unaudited management accounts. Any losses from associates are brought to account in the consolidated financial statements until the interest in such associates is written down to zero. The interest includes any long-term interests that in substance, form part of the entity’s net investment in the equity-accounted investee, for example long-term receivables for which settlement is neither planned nor likely to occur in the foreseeable future. Thereafter, losses are accounted for only insofar as the Group is committed to providing financial support to such associates. The carrying value of an equity-accounted investment represents the cost of the investment, including goodwill, the proportionate share of the post-acquisition retained earnings and losses, any other movements in reserves, any impairment losses and loans to or from the equity-accounted investee. The carrying value together with any long-term interests that in substance form part of the net investment in the equity-accounted investee is assessed annually for existence of indicators of impairment and if such exist, the carrying amount is compared to the recoverable amount, being the higher of value in use or fair value less costs to sell. If an impairment in value has occurred, it is recognised in the period in which the impairment arose. Indicators of impairment include a significant or prolonged decline in the investments fair value below its carrying value. The Group holds the following equity-accounted investments: Figures in million - SA rand Notes Rand Refinery 1 691.1 396.9 239.3 Mimosa 2 3,928.6 2,687.7 2,492.4 Peregrine 2 1,001.1 954.1 978.0 Other equity-accounted investments 0.2 0.1 24.2 Total equity-accounted investments 5,621.0 4,038.8 3,733.9 1 Associate 2 Joint venture 18.1 Rand Refinery Sibanye-Stillwater has a 44.4% interest in Rand Refinery Proprietary Limited (Rand Refinery), a company incorporated in South Africa, which is involved in the refining of bullion and by-products sourced from, inter alia , South African and foreign gold producing mining companies. Rand Refinery is accounted for using the equity method. On 18 December 2014, Rand Refinery drew down R1.029 billion under a R1.2 billion subordinated shareholders loan (the Facility), with Sibanye-Stillwater’s proportional share being R384.6 million. Amounts drawn down under the Facility were repayable within two years from the first draw down date. If the loan was not repaid within two years, it would automatically convert into equity in Rand Refinery. During February 2017, Rand Refinery resolved to convert the Facility to redeemable preference shares. There are no fixed repayment terms for the preference shares. The preference shares have a preferential right to distributions. No ordinary dividends will be declared by Rand Refinery until the preference shares have been fully redeemed. The preference shareholders do not have voting rights at shareholders' meetings. The Group accounts for the preference shares as part of the investment in Rand Refinery. Historical impairment of R119.6 million on Rand Refinery was reversed at 31 December 2020 (refer note 10). The equity-accounted investment in Rand Refinery movement for the year is as follows: Figures in million - SA rand Balance at beginning of the year 396.9 239.3 198.4 Share of results of equity-accounted investee after tax 1 400.1 344.5 143.7 Dividends received (111.2) - - Preference shares redeemed (114.3) (186.9) (102.8) Reversal of impairment 119.6 - - Balance at end of the year 691.1 396.9 239.3 1 Rand Refinery is equity accounted based on its latest management accounts for the period ended 30 November, since Rand Refinery has a 31 August year-end The Group’s interest in the summarised financial statements of Rand Refinery are: Figures in million - SA rand Revenue 1,131.0 811.0 644.0 Total comprehensive income 903.0 777.0 434.0 Non-current assets 724.0 667.0 699.0 Current assets 2,079.0 1,433.0 1,088.0 Non-current liabilities (56.0) (111.0) (44.0) Current liabilities (462.0) (104.0) (359.0) Net assets (100.0%) 2,285.0 1,885.0 1,384.0 Reconciliation of the total investment in Rand Refinery with attributable net assets: Net assets (44.4%) 1,015.7 836.9 614.5 Preference shares redeemed (114.3) (186.9) (102.8) Dividend received (111.2) (8.2) (8.2) Fair value adjustment 1 (35.5) (35.5) (35.5) Impairment - (119.6) (119.6) Redeemable preference shares below 44.4% interest 2 - 14.5 35.9 Reconciling items 3 (63.6) (104.3) (145.0) Total investment in Rand Refinery 691.1 396.9 239.3 1 The investment in equity-accounted investee was fair valued at 1 July 2002, the date when significant influence was obtained 2 Sibanye-Stillwater took up 37.4% of the Facility, which is less than its current proportional interest in Rand Refinery. Rand Refinery converted the Facility into redeemable preference shares, classified within equity, and therefore Sibanye-Stillwater shares in less than its current 44.4% proportional interest of the net asset value of Rand Refinery 3 Reconciling items relate to adjustments on consolidation of DRDGOLD’s interest in Rand Refinery 18.2 Mimosa Sibanye-Stillwater has a 50% interest in Mimosa Investments Limited (Mimosa), which owns and operates the Mimosa mine, which is a Platinum mine situated in Zimbabwe and has a functional currency of US dollar. The equity-accounted investment in Mimosa movement for the year is as follows: Figures in million - SA rand Balance at the beginning of the year 2,687.7 2,492.4 2,012.9 Share of results of equity-accounted investee after tax 1,299.7 377.1 210.5 Dividends received (103.2) (111.0) (87.0) Foreign currency translation 44.4 (70.8) 356.0 Balance at end of the year 3,928.6 2,687.7 2,492.4 The Group’s interest in the summarised financial statements of Mimosa are: Figures in million - SA rand Revenue 7,789.0 4,685.2 3,714.9 Amortisation and depreciation (562.9) (437.4) (383.1) Interest income 7.9 4.5 - Finance expense (28.1) (43.5) (26.0) Income and royalty tax (1,254.6) (436.4) (381.8) Income tax (984.2) (282.3) (266.6) Royalty tax (270.4) (154.1) (115.2) Profit or loss 2,599.4 754.2 420.9 Other comprehensive income 88.9 (141.3) 712.0 Total comprehensive income 2,688.3 612.9 1,132.9 Non-current assets 5,178.0 4,723.9 4,592.3 Property, plant and equipment 2 5,178.0 4,704.8 4,592.3 Right-of-use assets - 19.1 - Current assets 4,635.1 2,535.1 2,047.9 Cash and cash equivalents 469.0 27.9 184.8 Other current assets 4,166.1 2,507.2 1,863.1 Non-current liabilities (1,304.6) (1,235.4) (1,168.1) Non-current financial liabilities 1 (12.2) (128.7) (60.7) Other non-current liabilities (1,292.4) (1,106.7) (1,107.4) Current liabilities (556.3) (553.0) (384.6) Current financial liabilities 1 (476.0) (446.5) (377.7) Other current liabilities (80.3) (106.5) (6.9) Net assets (100.0%) 7,952.2 5,470.6 5,087.5 Reconciliation of the total investment in Mimosa with attributable net assets: Net assets (50.0%) 3,976.1 2,735.3 2,543.8 Reconciling items 2 (47.5) (47.6) (51.4) Total investment in Mimosa 3,928.6 2,687.7 2,492.4 1 Non-current and current financial liabilities (excluding trade and other payables and provisions) amounted to R12.2 million (2019: R128.7 million, 2018: R60.7 million) and R52.6 million (2019: R32.0 million, 2018: R4.0 million), respectively 2 The reconciling items include the difference between the carrying amount and fair value of the Mimosa’s identifiable assets and liabilities on acquisition less accumulated amortisation, and foreign exchange differences on translation of assets and liabilities of the foreign joint venture Repatriation of funds from Zimbabwe is subject to regulatory approval in Zimbabwe. 18.3 Peregrine On 29 June 2018, Sibanye-Stillwater announced that it had entered into an Arrangement Agreement with Regulus Resources Inc. (Regulus) and a newly formed subsidiary of Regulus, Aldebaran Resources Inc. (Aldebaran), creating a strategic partnership in order to unlock value at its Altar copper-gold project in San Juan Province, Argentina (Altar Project), currently held in the US PGM operations. Under the terms of the Arrangement Agreement, Stillwater Canada LLC, an indirect, wholly-owned subsidiary of Sibanye-Stillwater (Stillwater Canada), entered into an option and joint venture agreement with Aldebaran, whereby Aldebaran has the option to earn into a maximum 80% interest in a wholly-owned subsidiary of Stillwater Canada, Peregrine Metals Limited (Peregrine) which owns the Altar Project. The consideration for Aldebaran to acquire up to an 80% interest in the Altar Project, included:  An upfront cash payment of US$15 million to Sibanye-Stillwater on closing of the Arrangement Agreement;  19.9% of the shares of Aldebaran; and  A commitment from Aldebaran to carry the next US$30 million of spend at the Altar Project over a maximum of five years (inclusive of 2018 drilling that was conducted between February and May of 2018) as an initial earn-in of a 60% interest in the Altar Project (the Initial Earn-in). Pursuant to the Arrangement Agreement, Aldebaran may also elect to earn-in an additional 20% interest in the Altar Project by spending an additional US$25 million over a three-year period following the Initial Earn-in. Peregrine was a subsidiary of Stillwater Canada. On 25 October 2018, Aldebaran issued an aggregate of 15,449,555 Aldebaran shares to Sibanye-Stillwater, representing 19.9% of the current 77,635,957 issued and outstanding Aldebaran shares, and made an upfront cash payment of US$15 million to Sibanye-Stillwater in accordance with the Arrangement Agreement. From this date, Stillwater Canada and Aldebaran act together to direct the relevant activities of and, therefore, collectively control Peregrine. As a result of the loss of control, Peregrine was derecognised as a subsidiary and accounted for as an equity-accounted investment. At 31 December 2020, the Group had a 100% legal interest in Peregrine, which is subject to an Initial Earn-in arrangement of 60% as described above (2019: 100%; 2018: 100%). At 31 December 2020, Aldebaran who is earning into the Altar Project, was not in breach of the earn-in requirements. The equity-accounted investment in Peregrine movement for the year is as follows: Figures in million - SA rand Balance at the beginning of the year 954.1 978.0 - Equity-accounted investment retained on loss of control of subsidiary - - 956.0 Foreign currency translation 47.0 (23.9) 22.0 Balance at end of the year 1,001.1 954.1 978.0 The Group’s interest in the summarised financial statements of Peregrine is: Figures in million - SA rand Non-current assets 1,541.3 1,472.4 1,714.6 Current assets 7.3 3.3 23.9 Non-current liabilities (381.6) (369.2) (342.6) Current liabilities (18.3) (1.4) (1.3) Net assets (100.0%) 1,148.7 1,105.1 1,394.6 Reconciliation of the total investment in Peregrine with attributable net assets: Net assets (40%) 1 459.5 442.0 557.8 Reconciling items 2 541.6 512.1 420.2 Total investment in Peregrine 1,001.1 954.1 978.0 1 Disclosed on the basis that Aldebaran will successfully complete their earn-in obligation in terms of the agreement as described above 2 The reconciling items include the difference between the carrying amount and fair value of the Peregrine’s identifiable assets and liabilities on acquisition less accumulated amortisation, and foreign exchange differences on translation of assets and liabilities of the foreign equity-accounted investment

INTERESTS IN JOINT OPERATIONS

INTERESTS IN JOINT OPERATIONS	12 Months Ended
	Dec. 31, 2020
INTERESTS IN JOINT OPERATIONS
INTERESTS IN JOINT OPERATIONS	19. Interests in joint operations Accounting policy A joint operation is a joint arrangement in which the parties that share joint control have rights to the assets, and obligations for the liabilities, relating to the arrangement. In relation to the Group’s interests in joint operations, the following are recognised in the financial statements:  the Group’s share of the jointly controlled assets, classified according to the nature of the assets;  any liabilities that the Group has incurred;  the Group’s share of any liabilities incurred jointly with the other ventures in relation to the joint operation;  any income from the sale or use of the Group’s share of the output of the joint operation, together with the Group’s share of any expenses incurred by the joint operation; and  any expenses that the Group has incurred in respect of its interest in the joint operation. The Group’s interests in joint operations includes a 50% interest in two joint operations each referred to as the “Notarial Pooling and Sharing Agreements”. The principal activities of the joint operations are to extend the Kroondal mine over the boundary of the properties covering the Kroondal mine and expand the Marikana mine operations through mineral rights contributed by Anglo American Platinum Limited through its subsidiary, RPM. The Group’s share of the assets, liabilities, revenue and expenses of the joint operations which are included in the consolidated financial statements is as follows: Kroondal mine Figures in million - SA rand (Loss)/gain on foreign exchange differences (16.4) (63.2) 132.7 Profit before tax 4,814.5 2,061.6 677.7 Profit for the year 4,814.3 2,061.4 677.7 Non-current assets 799.7 945.7 1,115.7 Current assets 3,894.5 2,303.0 1,828.2 Non-current liabilities (7.4) - - Current liabilities (436.3) (353.1) (271.3) Net assets (50.0%) 4,250.5 2,895.6 2,672.6

Other investments

Other investments	12 Months Ended
	Dec. 31, 2020
Other investments
Other investments	20. Other investments Accounting policy On initial recognition of an equity investment that is not held for trading, the Group may make an irrevocable election to present subsequent changes in the investment’s fair value in other comprehensive income. This election is made on an investment-by-investment basis. These investments are subsequently measured at fair value, with dividends recognised in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognised in other comprehensive income (OCI) and are never reclassified to profit or loss. The Group holds the following investments measured at fair value through OCI: Figures in million - SA rand Rand Mutual Assurance Company Limited 158.2 112.4 67.8 Furuya Metals Company Limited 343.1 303.1 - Aldebaran Resources Inc. 97.8 78.2 81.5 Generation Mining Limited 100.7 33.3 - Other 147.2 71.7 6.7 Total other investments 847.0 598.7 156.0 Fair value of other investments Other investments consists primarily of other listed investments and other short-term investment products, which are measured at fair value or which carrying amounts approximates fair value. The fair values of non-listed investments included in other investments are determined through valuation techniques that include inputs that are not based on observable market data. Fair value measurements of listed investments are categorised as level 1 under the fair value hierarchy and non-listed investments as level 3 (refer note 36.1).

ENVIRONMENTAL REHABILITATION OB

ENVIRONMENTAL REHABILITATION OBLIGATION FUNDS	12 Months Ended
	Dec. 31, 2020
ENVIRONMENTAL REHABILITATION OBLIGATION FUNDS
ENVIRONMENTAL REHABILITATION OBLIGATION FUNDS	21. Environmental rehabilitation obligation funds Accounting policy The Group’s rehabilitation obligation funds includes equity-linked investments that are fair valued at each reporting date. The fair value is calculated with reference to underlying equity instruments using industry valuation techniques and appropriate models. Annual contributions are made to dedicated environmental rehabilitation obligation funds to fund the estimated cost of rehabilitation during and at the end of the life of the relevant mine. The amounts contributed to these funds are included under non-current assets and are measured at fair value through profit or loss. Interest earned on monies paid to rehabilitation funds is accrued on a time proportion basis and is recorded as interest income. In addition, bank guarantees are provided for funding shortfalls of the environmental rehabilitation obligations. Figures in million - SA rand Notes Balance at beginning of the year 4,602.2 3,998.7 3,492.4 Contributions made 63.6 12.9 63.0 Payments received (7.4) (151.9) - Interest income 245.1 265.5 223.5 Fair value gain/(loss) 1 30.5 33.8 (24.9) Environmental rehabilitation obligation funds on acquisition of subsidiaries - 443.2 244.7 Balance at end of the year 4,934.0 4,602.2 3,998.7 Environmental rehabilitation obligation funds comprise of the following: Restricted cash 2 702.9 610.0 633.9 Funds 4,231.1 3,992.2 3,364.8 1 The environmental rehabilitation trust fund includes equity-linked investments that are fair valued at each reporting date 2 The funds are set aside to serve as collateral against the guarantees made to the Department of Minerals and Resources for environmental rehabilitation obligations Fair value of environmental rehabilitation obligation funds Environmental rehabilitation obligation funds comprise equity-linked notes, a fixed income portfolio of bonds as well as fixed and call deposits. The environmental rehabilitation obligation funds are stated at fair value based on the nature of the fund’s investments (refer note 36.1). Credit risk The Group is exposed to credit risk on the total carrying value of the investments held in the environmental rehabilitation obligation funds. The Group has reduced its exposure to credit risk by investing in funds with a limited number of major financial institutions.

OTHER RECEIVABLES AND OTHER PAY

OTHER RECEIVABLES AND OTHER PAYABLES	12 Months Ended
	Dec. 31, 2020
OTHER RECEIVABLES AND OTHER PAYABLES
OTHER RECEIVABLES AND OTHER PAYABLES	22. Other receivables and other payables Significant accounting judgements and estimates Expected future cash flows used to determine the fair value of the other payables (namely the Deferred Payment, right of recovery payable and contingent consideration) and the right of recovery receivable are inherently uncertain and could materially change over time. The expected future cash flows are significantly affected by a number of factors including reserves and production estimates, together with economic factors such as the expected commodity price, currency exchange rates, and estimates of production costs, future capital expenditure and discount rates. Accounting policy Financial instruments included in other receivables are categorised as financial assets measured at amortised cost and those included in other payables are categorised as other financial liabilities as applicable. These assets and liabilities are initially recognised at fair value. Subsequent to initial recognition, financial instruments included in other receivables and other payables are measured at amortised cost. Reimbursements, such as rehabilitation reimbursements from other parties are not financial instruments, and are recognised as a separate asset where recovery is virtually certain. The amount recognised is limited to the amount of the relevant rehabilitation provision. If the party that will make the reimbursement cannot be identified, then the reimbursement is generally not virtually certain and cannot be recognised. If the only uncertainty regarding the recovery relates to the amount of the recovery, the reimbursement amount often qualifies to be recognised as an asset. Other receivables and payables that do not arise from contractual rights and obligations, such as receivables on rates and taxes, are recognised and measured at the amount expected to be received or paid. 22.1 Other receivables Figures in million - SA rand Right of recovery receivable 340.2 186.8 176.8 Rates and taxes receivable 105.1 103.0 106.2 Pre-paid royalties 364.1 392.8 - Other 48.7 52.1 66.6 Total other receivables 858.1 734.7 349.6 Reconciliation of the non-current and current portion of the other receivables: Other receivables 858.1 734.7 349.6 Current portion of other receivables (36.8) (51.2) (35.2) Non-current portion of other receivables 821.3 683.5 314.4 22.2 Other payables Figures in million - SA rand Deferred Payment (related to Rustenburg operations acquisition) 4,354.4 2,825.6 2,205.9 Contingent consideration (related to SFA (Oxford) acquisition) 88.2 55.8 - Right of recovery payable 39.5 79.4 83.2 Deferred consideration (related to Pandora acquisition) 307.8 275.9 - Dissenting shareholder liability - - 287.1 Other 366.7 212.2 256.3 Total other payables 5,156.6 3,448.9 2,832.5 Reconciliation of the non-current and current portion of the other payables: Other payables 5,156.6 3,448.9 2,832.5 Current portion of other payables (2,245.9) (761.4) (303.3) Non-current portion of other payables 2,910.7 2,687.5 2,529.2 Right of recovery receivable and payable Based on the first and second Notarial Pooling and Sharing agreements (PSAs) with Anglo American Platinum, Kroondal (previously Aquarius Platinum (South Africa) Proprietary Limited (AQPSA)) holds a contractual right to recover 50% of the rehabilitation obligation relating to environmental rehabilitation resulting from PSA operations from RPM (subsidiary of Anglo American Platinum), where this rehabilitation relates to property owned by Kroondal Operations. Likewise RPM holds a contractual right to recover 50% of the rehabilitation obligation relating to environmental rehabilitation resulting from PSA operations from Kroondal Operations, where the rehabilitation relates to property owned by RPM. With respect to the opencast section of the Marikana mine that is on Kroondal Operations’ property, RPM have limited the contractual liability to approximately R185 million (2019: R179 million, 2018: R172 million), being a negotiated liability in terms of an amendment to the second PSA. Deferred Payment (related to Rustenburg operations acquisition) In terms of the Rustenburg operations transaction, the purchase consideration includes a Deferred Payment, calculated as being equal to 35% of the distributable free cash flow generated by the Rustenburg operation over a six year (1 January 2017 to 31 December 2022) period from inception (latest of transaction closing or 1 January 2017), subject to a minimum payment of R3.0 billion. The distributable free cash flow has been derived from forecast cash flow models. These models use several key assumptions, including estimates of future sales volumes, PGM prices, operating costs and capital expenditure. The Deferred Payment movement for the year is as follows: Figures in million - SA rand Note Balance at the beginning of the year 2,825.6 2,205.9 2,194.7 Interest charge 186.8 179.0 200.4 Payment of Deferred Payment (739.0) (283.4) (38.6) Loss/(gain) on revised estimated cash flows 1 2,081.0 724.1 (150.6) Balance at end of the year 4,354.4 2,825.6 2,205.9 1 The loss on revised estimated cash flows is primarily as a result of an increase in the forecasted Rand PGM basket price used to estimate the future cash flows Deferred consideration (related to Pandora acquisition) Lonmin acquired the remaining 50% stake in Pandora Joint Venture in 2017. The purchase price included a deferred and contingent consideration element. The deferred payment element represents a minimum consideration of R400 million, which is settled through a cash payment based on 20% of the distributable free cash flows generated from the Pandora E3 operations on an annual basis for a period of 6 years. The fair value of the deferred consideration at acquisition of Lonmin by the Group was determined using the present value of the future cash flows at a discount rate of 12.5%. The contingent consideration element is based on the extent to which 20% of the distributable free cash flows exceed R400 million. This element is valued at zero as the distributable free cash flows generated from the Pandora E3 operations are not estimated to exceed R400 million. The distributable free cash flow has been derived from forecast cash flow models. These models use several key assumptions, including estimates of future sales volumes, PGM prices, operating costs and capital expenditure. The Pandora deferred consideration movement for the year is as follows: Figures in million - SA rand Note Balance at the beginning of the year 275.9 - - Deferred consideration on acquisition of subsidiary - 235.4 - Interest charge 49.1 40.5 - Payment made (17.2) - - Balance at end of the year 307.8 275.9 - Dissenting shareholder liability Refer note 38 for the history and outcome of the dissenting shareholder dispute. The dissenting shareholder liability movement for the year is as follows: Figures in million - SA rand Note Balance at the beginning of the year - 287.1 1,349.7 Interest charge - 21.2 68.1 Payments to dissenting shareholders - (319.4) (1,375.8) Dissenting shareholder liability on acquisition of subsidiary - - - Foreign currency translation reserve - 11.1 245.1 Balance at end of the year - - 287.1 Fair value of other receivables and other payables Due to the approaches applied in calculating the carrying values as described above, the fair values approximate the carrying value (refer note 36.1). Market risk The Deferred Payment relating to Rustenburg and the deferred consideration relating to Pandora are sensitive to changes in the 4E basket price. A one percentage point decrease in the 4E basket price would have decreased the loss on financial instruments by R73.7 million (2019: R95.6 million). A one percentage point increase in the 4E basket price would have increased the loss on financial instruments by R73.7 million (2019: R95.6 million). Credit risk The carrying value of the other receivables represents the maximum credit risk exposure of the Group in relation to these receivables. The Group has reduced its exposure to credit risk by dealing with a limited number of approved counterparties (refer note 36.2).

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2020
INVENTORIES
INVENTORIES	23. I nventories Significant accounting judgements and estimates Inventory is held in a wide variety of forms across the value chain reflecting the stage of refinement. Prior to production as final metal the inventory is always contained within a carrier material. As such inventory is typically sampled and assays taken to determine the metal content and how this is split by metal. Measurement and sampling accuracy can vary quite significantly depending on the nature of the vessels and the state of the material. An allowance for estimation uncertainty is applied to the various categories of inventory and is dependent on the degree to which the nature and state of material allows for accurate measurement and sampling. The range used for the estimation allowance varies based on the stage of refinement. The range is based on independent metallurgists’ level of confidence obtained from the outcome of the stocktake. Those results are applied in arriving at the appropriate quantities of inventory. Accounting policy Inventory is valued at the lower of cost and net realisable value. The Group values ore stockpiles and metal-in-process when it can be reliably measured. Cost is determined on the following basis:  Gold reef ore stockpiles and gold-in-process are valued using weighted average cost. Cost includes production, amortisation, depreciation and related administration costs  PGM inventory is valued using weighted average cost by allocating cost, based on the joint cost of production, apportioned according to the relative sales value of each of the PGMs produced. The group recognises the metal produced in each development phase in inventory with an appropriate proportion of cost. Cost includes production, amortisation, depreciation and related administration costs  By-product metals are valued at the incremental cost of production from the point of split-off from the PGM processing stream  Consumable stores are valued at weighted average cost after appropriate provision for surplus and slow-moving items Figures in million - SA rand Consumable stores 1 1,626.8 1,580.8 1,043.5 PGM ore and mill inventory 141.7 127.7 71.0 PGM in process 2 13,742.4 10,496.9 3,251.7 Gold in process 616.5 309.7 143.3 PGM finished goods 8,709.9 2,958.7 777.8 Other 115.1 29.6 7.5 Total inventories 24,952.4 15,503.4 5,294.8 1 The cost of consumable stores consumed during the year and included in operating cost amounted to R16,404.0 million (2019: R12,784.3 million and 2018: R9,327.9 million) 2 Included in PGM in process, is R4,224.5 million (2019: R3,826.5 million) relating to the Marikana operations. It also includes R3,846.6 million (2019: R4,182.4 million) relating to SRPM operations due to the processing agreements between SRPM and Anglo American Platinum Limited changing from a purchase of concentrate arrangement to a toll processing arrangement from 1 January 2019

TRADE AND OTHER RECEIVABLES

TRADE AND OTHER RECEIVABLES	12 Months Ended
	Dec. 31, 2020
TRADE AND OTHER RECEIVABLES
TRADE AND OTHER RECEIVABLES	24. Trade and other receivables Accounting policy Trade and other receivables, excluding trade receivables for PGM concentrate sales, prepayments and value added tax, are non-derivative financial assets categorised as financial assets measured at amortised cost. The above non-derivative financial assets are initially recognised at fair value and subsequently carried at amortised cost less allowance for impairment . Estimates made for impairment are based on a review of all outstanding amounts at year end in line with the impairment policy described in note 36 . Irrecoverable amounts are written off during the period in which they are identified. In addition to other types of PGM sales, trade receivables include actual invoiced sales of PGM concentrate, as well as sales not yet invoiced for which deliveries have been made and the control has transferred. The PGM concentrate receivables are financial assets measured at fair value through profit or loss, as the solely payments of principle and interest criteria is not met. The receivable amount calculated for the PGM concentrate delivered but not yet invoiced is recorded at the fair value of the consideration receivable at the date of delivery. At each subsequent reporting date the receivable is restated to reflect the fair value movements in the pricing mechanism which are recognised in revenue. Foreign exchange movements subsequent to the recognition of a sale are recognised as a foreign exchange gain or loss in profit or loss. Figures in million - SA rand Trade receivables - gold sales 42.0 - 433.8 Trade receivables - PGM sales 4,655.3 2,681.1 5,310.1 PGM sales concentrate 4,030.0 2,341.6 5,310.1 PGM sales other 625.3 339.5 - Other trade receivables 1,020.6 889.0 436.6 Payroll debtors 268.2 251.5 127.9 Interest receivable 56.5 14.6 8.9 Financial assets 6,042.6 3,836.2 6,317.3 Prepayments 368.8 442.9 296.9 Value added tax 454.2 355.9 218.8 Total trade and other receivables 6,865.6 4,635.0 6,833.0 Fair value of trade and other receivables The fair value of trade receivables for PGM concentrate sales are determined based on ruling market prices, volatilities and interest rates, and constitutes level 2 on the fair value hierarchy (refer note 36.1). The fair value of trade and other receivables measured at amortised cost approximate the carrying value due to the short maturity. Credit risk The Group is exposed to credit risk on the total carrying value of trade and other receivables. Trade receivables measured at amortised cost are reviewed on a regular basis and an allowance for impairment is raised when they are not considered recoverable based on an expected credit loss assessment. The Group transacts exclusively with a limited number of large international institutions and other organisations with strong credit ratings and the negligible historical level of customer default. Trade receivables are currently in a sound financial position and no impairment has been recognised. At 31 December 2020, other receivables of R199.2 million (2019: R139.9 million and 2018: R15.8 million) were considered impaired and are provided for. Impairment allowance movements were recognised in profit or loss, except for R95.2 million of the 2019 movement which related to impaired other receivables acquired with the Lonmin acquisition in 2019. The movement through profit or loss in the 2020 financial year relates to allowance for impairment recognised in respect of other receivables. Commodity price risk The Group is exposed to commodity price risk on PGM concentrate receivables that are still subject to provisional pricing adjustments after the reporting date. A change in the 4E basket price of 1% percent would impact revenue and the related PGM concentrate receivables by R30.6 million. Foreign currency sensitivity Certain of the Group’s components with SA rand as their functional currency have trade and other receivables which are settled in US dollar. The balances are sensitive to changes in the rand/US dollar exchange rate. A one percentage point change in the SA rand closing exchange rate of R14.69/US$ would have impacted profit for the year by R43.7 million.

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	12 Months Ended
	Dec. 31, 2020
CASH AND CASH EQUIVALENTS.
CASH AND CASH EQUIVALENTS	25. Cash and cash equivalents Accounting policy Cash and cash equivalents comprise cash on hand, demand deposits and short-term, highly liquid investments readily convertible to known amounts of cash and subject to insignificant risk of changes in value, and are measured at amortised cost which is deemed to be fair value due to its short-term maturity. Figures in million - SA rand Cash at the bank and on hand 20,239.8 5,619.0 2,549.1 Total cash and cash equivalents 20,239.8 5,619.0 2,549.1 Fair value of cash and cash equivalents The fair value of cash and cash equivalents approximate the carrying value due to the short maturity. Credit risk The Group is exposed to credit risk on the total carrying value of cash and cash equivalents. The Group has reduced its exposure to credit risk by dealing and investing with a number of major financial institutions.

STATED SHARE CAPITAL

STATED SHARE CAPITAL	12 Months Ended
	Dec. 31, 2020
STATED SHARE CAPITAL.
STATED SHARE CAPITAL	26. Stated share capital Accounting policy Ordinary share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects. Scheme of arrangement The Scheme was implemented on 24 February 2020 (refer note 1.1). The impact on the Group is described in more detail below. Sibanye-Stillwater determined that the acquisition of SGL did not represent a business combination as defined by IFRS 3. This is because neither party to the Scheme could be identified as an accounting acquirer in the transaction, and post the implementation there would be no change of economic substance or ownership in the SGL Group. The SGL shareholders have the same commercial and economic interest as they had prior to the implementation of the Scheme and no additional new ordinary shares of SGL were issued as part of the Scheme. Following the implementation of the Scheme, the consolidated financial statements of Sibanye-Stillwater therefore reflects that the arrangement is in substance a continuation of the existing SGL Group. SGL is the predecessor of the Company for financial reporting purposes and following the implementation of the Scheme, Sibanye-Stillwater's consolidated comparative information is presented as if the reorganisation had occurred before the start of the earliest period presented. In order to affect the reorganisation in the Group at the earliest period presented in these consolidated financial statements, a reorganisation reserve was recognised at 31 December 2017 to adjust the previously stated share capital of SGL of R34,667 million to reflect the stated share capital of the Company of R1 at that date. The reorganisation reserve was adjusted for previously recognised movements in the stated share capital of SGL between 31 December 2017 and 24 February 2020. The issue of shares at the effective date of the Scheme, was recorded at an amount equal to the net asset value of the unconsolidated SGL company at that date, with the difference recognised as a reorganisation reserve. Since the consolidated financial statements of Sibanye-Stillwater are in substance a continuation of the existing SGL Group, the shares used in calculating the weighted average number of issued shares (refer note 12.1) is based on the issued stated share capital of the listed entity at that stage. As a result of the above, earnings per share measures are based on SGL's issued shares for comparative periods. For purposes of Sibanye-Stillwater’s earnings per share measures for the year ended 31 December 2020, shares issued as part of the Scheme were treated as issued from the beginning of the current reporting period so as to reflect the unchanged continuation of the Group. No weighting was required as there were no changes in the issued share capital of SGL from the beginning of the current year up to the effective date of the Scheme. Shares issued after the implementation of the Scheme were time-weighted as appropriate. Authorised and issued Although the Scheme was retrospectively implemented for accounting purposes, the roll forward below shows the movement of the legally issued shares of the Company and SGL for the periods indicated. Company SGL Figures in thousand Authorised number of shares 10,000,000 Reconciliation of issued number of shares: Number of shares in issue at beginning of the year 1 -* 2,266,261 2,168,721 Scheme implemented 2 2,670,030 - - Shares issued under Sibanye-Stillwater/SGL Share Plan 3 6,932 4,442 10,394 Issued upon conversion of US$ Convertible Bond 4 248,040 - - Shares delisted (share buy-back) 5 (1,431) - - Shares issued for cash 6 - 108,932 - Shares issued with acquisition of subsidiary 7 - 290,395 - Capitalisation issue 8 - - 87,146 Number of shares in issue at end of the year 2,923,571 2,670,030 2,266,261 1 Since the Scheme was retrospectively implemented, the stated share capital presented in the consolidated statement of changes in equity reflects the legally issued shares of the Company from the earliest period presented, being one ordinary share at 31 December 2018 and 31 December 2019 2 From 1 January 2020 to 23 February 2020, shares of the listed entity presented for the Group were those of SGL. From 24 February 2020, these were exchanged for shares of Sibanye-Stillwater retrospectively presented for the Group in the consolidated statement of changes in equity. The Scheme was implemented on a share-for-share basis with no change in the total number of issued listed shares 3 Upon implementation of the Scheme, the SGL equity-settled share plan was transferred to the Company and is settled in the Company’s shares from the effective date onwards (refer note 6.1) 4 Refer note 28.5 5 The Group entered into a repurchase and cancellation of shares agreement with certain shareholders which resulted in the total issued shares of Sibanye-Stillwater decreasing by 1,431,197 shares 6 On 15 April 2019, Sibanye-Stillwater raised net capital of R1.7 billion from a placing of 108,932,356 new ordinary no par value shares to existing and new institutional investors 7 On 10 June 2019, 290,394,531 shares were issued to the shareholders of Lonmin Limited (refer note 16.1) 8 On 11 April 2018, 87,145,885 shares were issued with four capitalisation issue shares for every 100 existing share held * Less than one thousand All the Company’s ordinary no par value shares rank pari passu in all respects, there being no conversion or exchange rights attached thereto, and all of the ordinary shares will have equal rights to participate in capital, dividend and profit distributions by the Company. Retrospective roll forward of stated share capital and reorganisation reserve: SGL Scheme impact Reorgani- Company Amount Shares (thousand) Amount Amount Amount Shares Balance at 31 December 2017 -* -* Shares issued under SGL Share Plan - - - - - Capitalisation issue - - - - - Balance at 31 December 2018 -* -* Shares issued for cash - - Shares issued on Lonmin acquisition - - Shares issued under SGL Share Plan - - - - - Balance at 31 December 2019 -* -* Scheme implemented 1 Shares issued under Company Share Plan - - 6,932 Issued upon conversion of US$ Convertible Bond 2 - Shares delisted (share buy-back) - Balance at 31 December 2020 1 The stated share capital value of the Company on Scheme implementation amounts to the net asset value of the unconsolidated SGL company on the effective date of the Scheme. The reorganisation reserve is the balance between the previously presented stated share capital and the revised stated share capital value of the Company. There was no change in the issued share capital of the SGL Group from 31 December 2019 to the effective date of the Scheme 2 Refer note 28.5 * Less than R0.1 million or one thousand shares as indicated Repurchase of shares On 2 November 2020, the directors of the Company decided to make an offer to certain holders of the Company’s ordinary shares, via an Odd-lot offer to holders of fewer than 100 shares of the Company and a specific repurchase in terms of the JSE Listings Requirements and the South African Companies Act, 2008 to holders of 100 to 400 Company shares. This resulted in a total repurchase to the value of R84.1 million including directly attributable incremental transaction costs and a decrease of 1,431,197 in the issued shares of the Company. The average price paid for the repurchased shares amounted to R58.80 per share.

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS	12 Months Ended
	Dec. 31, 2020
NON-CONTROLLING INTERESTS
NON-CONTROLLING INTERESTS	27. Non-controlling interests Accounting policy Non-controlling interests The Group recognises any non-controlling interest in an acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets on an acquisition by acquisition basis. Subsequently, the carrying amount of non-controlling interest is the amount of the interest at initial recognition plus the non-controlling interest’s subsequent share of changes in equity. Transactions with non-controlling interests The Group treats transactions with non-controlling interests as transactions with equity owners of the Group. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests where control is not lost are also recorded in equity. Where control is lost over a subsidiary, the gains or losses are recognised in profit or loss. The Group’s non-controlling interests relates to the following subsidiaries: Figures in million - SA rand Non-controlling interest of DRDGOLD 1,223.8 1,135.2 913.2 Non-controlling interest of Platinum Mile 36.6 21.1 18.4 Non-controlling interests of Group Technical Security Management 4.8 5.4 4.4 Non-controlling interests of Marikana 1 970.5 306.0 - Total non-controlling interests 2,235.7 1,467.7 936.0 1 Included in Marikana’s NCI is NCI of WPL amounting to R689.5 million (2019: R253.3 million) DRDGOLD is a company incorporated in South Africa with its head office in Johannesburg. DRDGOLD’s primary listing is on the JSE Limited and its secondary listing is on the New York Stock Exchange. It’s gold production is derived from retreatment of surface tailings in South Africa. Following Sibanye-Stillwater’s exercise of its option to acquire an additional 12.05% in DRDGOLD effective 10 January 2020, non-controlling interests hold a 49.9% (2019: 61.95%, 2018: 61.95%) with an effective holding of 49.3% (2019: 61.4%, 2018: 61.4%) after considering the impact of treasury shares held by DRDGOLD. The Group calculated the net asset value of DRDGOLD at the effective date of the option exercise, to which the additional ownership percentage was applied to determine the reattribution between non-controlling interest and the Group amounting to R220.0 million. WPL, acquired as part of the Lonmin acquisition, consist of PGM mining and processing operations located on the Western Limb of the Bushveld Complex, close to the town of Rustenburg, in the North West province of South Africa and smelting and refining operations located in Brakpan, East of Johannesburg. Non-controlling interests hold an effective 4.75% interest in WPL. The summarised financial information of these subsidiary groups is provided below. This information is based on amounts before inter-company eliminations. Figures in million - SA rand DRDGOLD Limited Revenue 5,051.0 3,621.0 1,047.5 Profit for the year 1,254.5 460.2 (39.9) Total comprehensive income 1,485.1 459.1 (43.8) Profit attributable to NCI 619.2 285.1 (24.7) Net increase/(decrease) in cash and cash equivalents 1,626.0 334.0 (73.4) Dividends paid 358.7 85.0 - Non-current assets 3,620.3 3,393.1 3,581.9 Current Assets 2,671.2 972.2 591.0 Non-current liabilities (1,055.3) (1,108.6) (1,275.6) Current liabilities (592.5) (463.3) (425.2) Net assets 4,643.7 2,793.5 2,472.1 Western Platinum Proprietary Limited Revenue 26,781.2 11,124.5 - Profit for the year 7,239.3 763.7 - Total comprehensive income 7,250.9 763.7 - Profit attributable to NCI 444.4 17.0 - Net decrease in cash and cash equivalents 6,249.4 (2,070.2) - Dividends paid - - - Non-current assets 5,094.3 7,749.5 - Current Assets 14,737.2 6,832.0 - Non-current liabilities (20,737.6) (22,462.3) - Current liabilities (2,625.9) (2,201.7) - Net assets (3,532.0) (10,082.6) -

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2020
Borrowings
BORROWINGS	28. Borrowings and derivative financial instrument Significant accounting judgements and estimates Borrowings Expected future cash flows used to determine the fair value of borrowings (namely the Burnstone Debt) are inherently uncertain and could materially change over time. They are significantly affected by a number of factors including reserves and production estimates, together with economic factors such as the expected commodity price, foreign currency exchange rates, and estimates of production costs, future capital expenditure and discount rates. Derivative financial instrument Up to the date of settlement, gains and losses on the derivative financial instrument were attributable to changes in various valuation inputs, including the movement in the Company share price, change in US dollar/ rand exchange rate, bond market value and credit risk spreads. Although many inputs into the valuation are observable, the valuation method separates the fair value of the derivative from the quoted fair value of the US$ Convertible Bond by adjusting certain observable inputs. These adjustments require the application of judgement and certain estimates. Changes in the relevant inputs impact the fair value gains and losses recognised. Accounting policy Borrowings Borrowings are non-derivative financial liabilities categorised as other financial liabilities. Borrowings are recognised initially at fair value, net of transaction costs incurred, where applicable and subsequently measured at amortised cost using the effective interest method. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. Derivative financial instruments Derivatives are initially recognised at fair value using option pricing methodologies. Any directly attributable transaction costs are recognised in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes are recognised in profit or loss. For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the fair value hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. Borrowings Figures in million - SA rand Notes US$600 million RCF 6,977.7 5,711.9 2,726.5 R6.0 billion RCF - - 5,896.4 R5.5 billion RCF - 2,500.0 - 2022 and 2025 Notes 10,135.7 9,609.8 9,808.7 US$ Convertible Bond - 4,578.6 4,496.6 Burnstone Debt 1,263.3 1,330.4 1,145.1 Other borrowings - - 425.6 Franco-Nevada liability 2.1 2.0 2.0 Stillwater Convertible Debentures 3.8 3.5 3.8 Total borrowings 18,382.6 23,736.2 24,504.7 Reconciliation of the non-current and current portion of the borrowings: Borrowings 18,382.6 23,736.2 24,504.7 Current portion of borrowings (885.6) (38.3) (6,188.2) Non-current portion of borrowings 17,497.0 23,697.9 18,316.5 The current portion of borrowings will be repaid out of operational cash flows or it will be refinanced by utilising available Group facilities. Derivative financial instrument Figures in million - SA rand Note Reconciliation of the non-current and current portion of the derivative financial instrument: Derivative financial instrument - 4,144.9 408.9 Non-current portion of derivative financial instrument - 4,144.9 408.9 Roll forward of borrowings in the current year were as follows: Figures in million - SA rand Notes Balance at beginning of the year 23,736.2 24,504.7 25,649.5 Borrowings acquired on acquisition of subsidiary - 2,574.8 - Loans raised 16,289.2 18,981.7 17,130.2 Loans repaid (18,335.1) (22,008.3) (21,231.5) US$ Convertible Bond converted into shares (5,578.2) - - Unwinding of loans recognised at amortised cost 393.2 374.4 538.3 Accrued interest (related to the 2022 and 2025 Notes, and US$ Convertible Bond) 857.7 769.9 942.5 Accrued interest paid (866.3) (777.7) (907.2) Gain on derecognition of borrowings - - (179.7) (Gain)/loss on the revised cash flow of the Burnstone Debt (264.3) 96.6 (804.6) Loss/(gain) on foreign exchange differences and foreign currency translation 2,150.2 (779.9) 3,367.2 Balance at end of the year 18,382.6 23,736.2 24,504.7 28.1 US$600 million RCF On 21 May 2018, Sibanye-Stillwater cancelled and refinanced the US$350 million revolving credit facility (RCF) by drawing under the US$600 million RCF. The purpose of the facility was to refinance the US$350 million RCF, finance ongoing capital expenditure and working capital. Terms of the US$600 million RCF Facility: US$600 million Interest rate: LIBOR Interest rate margin: 1.85% if net debt to adjusted EBITDA is equal to or less than 2.50x 2.00% if net debt to adjusted EBITDA is greater than 2.50x Utilisation fee: Where the total outstanding loans under the RCF fall within the range of the percentage of the total loan as set out below, Sibanye-Stillwater shall pay an utilisation fee equal to the percentage per annum set out opposite such percentage range . % of the total loans Less than or equal to 33⅓% Greater than 33⅓% and less than or equal to 66⅔% Greater than 66⅔% Term of facility: Three years, subject to 2 one-year extensions at the lenders option. As at 31 December 2020, US$525 million of the facility lenders (i.e. seven of the eight lenders) have exercised the first one year extension option, and US$450 million of the facility lenders (i.e. six of the eight lenders) have exercised the second one year extension option. Borrowers: SGL, Stillwater, Kroondal, SRPM and WPL. Security and/or guarantors: The facility is unsecured and guaranteed by the Company, SGL, Stillwater, Kroondal, SRPM and WPL. Figures in million - SA rand Balance at beginning of the year 5,711.9 2,726.5 - Loans raised 7,218.1 9,067.1 5,391.6 Loans repaid (6,802.2) (5,826.2) (2,744.7) Loss on foreign exchange differences - 6.4 73.1 Loss/(gain) on foreign exchange differences 849.9 (261.9) 6.5 Balance at end of the year 6,977.7 5,711.9 2,726.5 28.2 R6.0 billion RCF On 15 November 2016, Sibanye-Stillwater cancelled and refinanced a R4.5 billion Facility by drawing under the R6.0 billion RCF. The purpose of the facility was to refinance the R4.5 billion Facility, finance ongoing capital expenditure, working capital and general corporate expenditure requirements which may include the financing of future acquisitions of business combinations. This facility was refinanced and cancelled in November 2019. Terms of the R6.0 billion RCF Facility: R6.0 billion Interest rate: JIBAR Interest rate margin: During the Covenant adjustment period, being 30 June 2017 to 31 December 2019, the margin will be based on the following net debt to adjusted EBITDA ratios: Net debt to adjusted EBITDA ratios Margin % 0.00:1 – 3.00:1 3.00:1 – 3.25:1 3.25:1 – 3.50:1 After the covenant adjustment period the margin will return to 2.4% Term of facility: Three years Borrowers: SGL, SRPM and Kroondal Security and/or guarantors: The facility was unsecured and guaranteed by SGL, Stillwater, SRPM and Kroondal. Figures in million - SA rand Balance at beginning of the year - 5,896.4 5,536.4 Loans raised - 1,150.0 360.0 Loans repaid - (5,046.4) - Inter Bank transfer - (2,000.0) - Balance at end of the year - - 5,896.4 28.3 R5.5 billion RCF Sibanye-Stillwater refinanced its R6.0 billion Revolving Credit Facility (RCF), which matured on 15 November 2019, by entering into a new R5.5 billion RCF on 25 October 2019 and drawing under the new RCF on 11 November 2019. The purpose of the facility was to refinance facilities, finance ongoing capital expenditure and general corporate expenditure requirements. Terms of the R5.5 billion RCF Facility: R5.5 billion Interest rate: JIBAR Interest rate margin: 2.40% if net debt to adjusted EBITDA is equal to or less than 2.00x 2.60% if net debt to adjusted EBITDA is greater than 2.00x Term of facility: Three years, subject to two one-year extensions at the lenders option. All facility lenders have approved the first extension with the loan facility now maturing on 11 November 2023. Borrowers: SGL, Kroondal, SRPM and WPL. Security and/or guarantors: The facility is unsecured and guaranteed by the Company, SGL, Stillwater, Kroondal, SRPM and WPL. Figures in million - SA rand Balance at beginning of the year 2,500.0 - - Loans raised 5,000.0 500.0 - Loans repaid (7,500.0) - - Inter Bank transfer - 2,000.0 Balance at end of the year - 2,500.0 - 28.4 2022 and 2025 Notes On 27 June 2017, Stillwater completed a two-tranche international corporate bond offering 6.125% Notes due on 27 June 2022 (the 2022 Notes) and 7.125% Notes due on 27 June 2025 (the 2025 Notes) (together the 2022 and 2025 Notes) with the proceeds applied towards the partial Terms of the 2022 and 2025 Notes Facility: US$500 million 6.125% Senior Notes due 2022 (the 2022 Notes) US$550 million 7.125% Senior Notes due 2025 (the 2025 Notes) Outstanding nominal value: 2022 Notes: US$353.7 million 2025 Notes: US$346.9 million Interest rate: 2022 Notes: 6.125% 2025 Notes: 7.125% Term of the Notes: 2022 Notes: Five years 2025 Notes: Eight years Issuer: Stillwater Guarantors: Each of the Notes are fully and unconditionally guaranteed, jointly and severally by the Guarantors (the Company, SGL, Kroondal, SRPM and WPL). The Guarantees rank equally in right of payment to all existing and future senior debt of the Guarantors. Figures in million - SA rand Balance at beginning of the year 9,609.8 9,808.7 12,597.7 Loans raised - - - Loans repaid - - (5,107.4) Accrued interest paid (741.6) (672.2) (795.5) Interest charge 763.5 664.9 836.6 Unwinding of amortised cost 58.6 47.9 196.7 Gain on derecognition of borrowings - - (128.8) Loss/(gain) on foreign exchange differences 445.4 (239.5) 2,209.4 Balance at end of the year 10,135.7 9,609.8 9,808.7 28.5 US$ Convertible Bond The US$ Convertible Bond was launched and priced on 19 September 2017 with the proceeds applied towards the partial repayment of the Stillwater Bridge Facility, raised for the acquisition of Stillwater (the “Bonds”). On 11 September 2018, Sibanye-Stillwater concluded the repurchase of a portion of the Bonds. An aggregate principal amount of US$66 million for a total purchase price of approximately US$50 million was repurchased. Following the repurchase, the outstanding nominal value amounted to US$384 million. On 11 September 2020 a bondholder elected to convert a US$200,000 bond into 127,967 ordinary shares of the Company. On 18 September 2020, SGL issued notice to exercise its rights to redeem all the Bonds in full on 19 October 2020 (Optional Redemption Notice). Following the issue of the Optional Redemption Notice and subject to the conditions of the Bonds, bondholders could still exercise their conversion rights by delivering a conversion notice. Following receipt of the conversion notices, SGL could elect to settle the Bonds in shares of the Company or in cash to the value of the shares, subject to the conditions of the Bonds. Conversion notices were received for Bonds with a nominal value of US$383 million and all converted bonds were settled through the issue of 247,912,467 ordinary shares in the Company. No conversion notices were received for Bonds to the value of $0.8 million and these were redeemed for cash at nominal value, including unpaid accrued interest. Upon implementation of the Scheme on 24 February 2020, SGL became a subsidiary of the Company, which in turn became the new holding company of the Group (refer note 26). Consequently, even though SGL was the Bond issuer, the converted Bonds were settled in shares of the Company. The Bonds consisted of two components under IFRS. The conversion option component was recognised as a derivative financial liability measured at fair value through profit or loss. The bond component was recognised as a financial liability measured at amortised cost using the effective interest method. Both financial liabilities were extinguished upon settlement of the Bonds. Before derecognition, interest was accrued up to the settlement date on the amortised cost component based on the original effective interest rate. The loss on settlement was attributed to the derivative component and measured as the difference between the fair value of the Sibanye-Stillwater shares issued on the respective settlement dates, the carrying amount of the amortised cost component immediately before settlement and the carrying amount of the derivative component. Sibanye-Stillwater shares issued on settlement of the Bonds were measured at the fair value on the dates of issue to the bondholders by applying a volume weighted average price (VWAP) on the day. Terms of the US$ Convertible Bond Issue size: US$450 million Outstanding nominal value: US$nil Coupon: 1.875% Maturity date: Original maturity date: 26 September 2023 (six years), early redemption finalised: 19 October 2020 Conversion premium: 35% Reference share price: US$1.2281, being the volume weighted average price of a share on the JSE from launch to pricing on 19 September 2017, converted at a fixed exchange rate. Initial conversion price: US$1.6580 Issuer: SGL Guarantors: The Company, Stillwater and Kroondal The table below sets out the details relating to the settlement of the Bonds: Number of shares issued ('thousands) 248,040.0 Number of bonds settled 1,916.0 Fair value of Company shares issued ('millions) 12,573.2 Range of VWAPs on settlement (ZAR) 46.5 - 51.5 Cash redemption amount ('millions) 13.2 Derivative element settlement value ('millions) 6,995.0 Bond element settlement value ('millions) 5,578.2 The tables below illustrate the movement in the amortised cost element and the derivative element respectively: Convertible bond at amortised cost Figures in million - SA rand Balance at beginning of the year 4,578.6 4,496.6 4,357.1 Loans repaid 1 (13.2) - (745.2) Loans converted into shares 2 (5,578.2) - - Accrued interest paid (124.7) (105.5) (111.7) Interest charge 94.2 105.0 105.9 Unwinding of amortised cost 186.8 196.8 185.8 Gain on derecognition of borrowings - - (50.9) Loss/(gain) on foreign exchange differences 856.5 (114.3) 755.6 Balance at end of the year - 4,578.6 4,496.6 1 The amount for the year ended 31 December 2020 relates to the redemption of Bonds for which no conversion notice was received. The amount for the year ended 31 December 2018 relates to the repurchase of a portion of the Bonds 2 Calculated as the amortised cost on the date of settlement Derivative financial instrument at fair value Figures in million - SA rand Note Balance at beginning of the year 4,144.9 408.9 1,093.5 Loss/(gain) on financial instruments 1 70.2 3,911.5 (678.1) Settlement of derivative financial instrument (6,995.0) - - Loss on settlement of US$ Convertible Bond 2 1,506.7 - - Gain on derecognition of derivative financial instrument - - (50.3) Loss/(gain) on foreign exchange differences 1,273.2 (175.5) 43.8 Balance at end of the year - 4,144.9 408.9 1 The loss/(gain) on the financial instrument is attributable to changes in various valuation inputs, including in the movement in the Company’s share price, change in USD/ZAR exchange rate, bond market value and credit risk spreads 2 Relates to the difference between the fair value of the Company shares issued on date of settlement, carrying value of the derivative liability before settlement and the carrying value of the amortised cost element on date of settlement 28.6 Burnstone Debt Sibanye Gold Eastern Operations (SGEO) has bank debt of US$178.1 million (R1,883.9 million) (the Burnstone Debt) outstanding as part of the net assets acquired on 1 July 2014. Terms of the Burnstone Debt Facility: A1: US$0.2 million A2: US$7.8 million A3: US$51.0 million A4: US$119.1 million Interest rate: A1 and A2: Interest free A3 and A4: Interest free until 1 July 2017, then at LIBOR Interest rate margin: A3 and A4: 4% from 1 July 2017 Term of loan: No fixed term Repayment period: A1: Repaid on 1 July 2014 A2: From 1 July 2017 the first 50% of Burnstone’s free cash flow (as defined in the settlement agreement) will be used to repay the Wits Gold Loan and the balance of 50% to repay A2. A3 and A4: On settlement of A2, 90% of Burnstone’s free cash flow will be used to repay the Wits Gold Loan and the balance of 10% to repay the Burnstone Debt. On settlement of the Wits Gold Loan and interest, 30% of Burnstone’s free cash flow will be used to repay the Burnstone Debt and the balance will be distributed to Wits Gold. The Bank Lenders will continue to participate in 10% of Burnstone’s free cash flow after the Burnstone Debt has been repaid in full to a maximum amount of US$63.0 million under a revenue participation agreement. Security: The Burnstone Debt is fully secured against the assets of Burnstone (of R2.0 billion) and there is no recourse to the Group. The security package includes a cession over the bank accounts, insurance policies’ proceeds, special and general notarial bonds over movable assets and mortgage bonds over property. The Burnstone Debt facilities of US$178.1 million (R1,883.9 million) were initially recognised at the acquisition fair value using level 3 assumptions, being R1,007.6 million, in terms of IFRS 13. The expected free cash flows to repay the loan as detailed above were based on the estimates and assumptions to determine the fair value at acquisition:  A US$ swap forward curve adjusted with the 4% interest rate margin above;  The annual life of mine plan that takes into account the following: - Proved and probable ore reserves of Burnstone; - Cash flows are based on the life-of-mine plan of 20 years; and - Capital expenditure estimates over the life-of-mine plan. Figures in million - SA rand Note Balance at beginning of the year 1,330.4 1,145.1 1,537.5 Accrued interest and unwinding of amortised cost 147.8 120.1 152.9 (Gain)/loss on revised estimated cash flows 1 (264.3) 96.6 (804.6) Loss/(gain) on foreign exchange differences 49.4 (31.4) 259.3 Balance at end of the year 1,263.3 1,330.4 1,145.1 1 At 31 December 2020, the expected free cash flows expected to repay the loan as detailed above were revised as a result of revised cash flows over the life of mine plan due to:  Revised forecast costs and capital expenditure; and  Revised long term gold prices 2020: R733,037/kg (2019: R686,225/kg and 2018: R585,500/kg) and exchange rates 2020: R16.00/US$ (2019: R14.00/US$ and 2018: R14.00/US$) based on a LOM of 20 years. A2 is discounted using a 5.8% discount rate and A3 and A4 is discounted at 9.5% 28.7 Other borrowings Short-term credit facilities Sibanye-Stillwater has uncommitted loan facilities with various banks to fund capital expenditure and working capital requirements at its operations. These facilities have no fixed terms, are short-term in nature and interest rates are market related. Figures in million - SA rand Balance at beginning of the year - 425.6 478.7 Loans raised 4,071.1 8,264.6 10,798.6 Loans repaid (4,019.7) (11,135.7) (10,854.6) Unwinding of amortised cost - 9.6 2.9 Borrowings acquired on acquisition of subsidiary - 2,574.8 - Other - 1.3 - Gain on foreign exchange differences (51.4) (140.2) - Balance at end of the year - - 425.6 28.8 Fair value of financial instruments and risk management Fair value of borrowings The fair value of variable interest rate borrowings approximates its carrying amounts as the interest rates charged are considered marked related. Fair value of fixed interest rate borrowings was determined through reference to ruling market prices and interest rates. The table below shows the fair value and carrying amount of borrowings where the carrying amount does not approximate fair value: Carrying value Fair value Figures in million - SA rand Level 1 Level 2 Level 3 31 December 2020 2022 and 2025 Notes 1 10,135.7 10,637.0 - - Burnstone Debt 2 1,263.3 - - 2,075.3 Total 11,399.0 10,637.0 - 2,075.3 31 December 2019 2022 and 2025 Notes 1 9,609.8 10,138.4 - - US$ Convertible Bond 3 4,578.6 - 4,724.5 - Burnstone Debt 2 1,330.4 - - 1,441.0 Total 15,518.8 10,138.4 4,724.5 1,441.0 31 December 2018 2022 and 2025 Notes 1 9,808.7 9,312.0 - - US$ Convertible Bond 3 4,496.6 - 3,736.1 - Burnstone Debt 2 1,145.1 - - 1,075.6 Total 15,450.4 9,312.0 3,736.1 1,075.6 1 The fair value is based on the quoted market prices of the notes 2 The fair value of the Burnstone Debt has been derived from discounted cash flow models. These models use several key assumptions, including estimates of future sales volumes, gold prices, operating costs, capital expenditure and discount rate. The fair value estimate is sensitive to changes in the key assumptions, for example, increases in the market related discount rate would decrease the fair value if all other inputs remain unchanged. The extent of the fair value changes would depend on how inputs change in relation to each other 3 The fair value of the amortised cost component of the US$ Convertible Bond is based on the quoted price of the instrument after separating the fair value of the derivative component Liquidity risk The following are contractually due, undiscounted cash flows resulting from maturities of financial liabilities including interest payments: Figures in million - SA rand Total Within one Between After five years 31 December 2020 Other payables 5,088.8 2,307.5 2,723.3 58.0 Trade and other payables 8,523.8 8,523.8 - - Borrowings - Capital US$600 million RCF 6,977.7 872.6 6,105.1 - 2022 and 2025 Notes 10,291.9 - 10,291.9 - Burnstone Debt 114.3 - 11.7 102.6 Franco-Nevada liability 2.1 2.1 - - Stillwater Convertible Debentures 3.8 3.8 - - - Interest 6,680.6 809.5 1,563.5 4,307.6 Total 37,683.0 12,519.3 20,695.5 4,468.2 31 December 2019 Other payables 3,808.6 775.4 2,918.6 114.6 Trade and other payables 7,739.5 7,739.5 - - Borrowings - Capital US$600 million RCF 5,711.9 - 5,711.9 - R6.0 billion RCF 2,500.0 - 2,500.0 - 2022 and 2025 Notes 9,808.4 - 4,951.8 4,856.6 US$ Convertible Bond 5,376.0 - 5,376.0 - Burnstone Debt 109.0 - 109.0 - Franco-Nevada liability 2.0 2.0 - - Stillwater Convertible Debentures 3.5 3.5 - - - Interest 7,820.8 1,184.2 2,698.3 3,938.3 Total 42,879.7 9,704.6 24,265.6 8,909.5 31 December 2018 Other payables 3,386.8 293.3 1,968.9 1,124.6 Trade and other payables 5,159.9 5,159.9 - - Borrowings - Capital US$600 million RCF 2,726.5 - 2,726.5 - R6.0 billion RCF 5,896.4 5,896.4 - - 2022 and 2025 Notes 10,053.6 - 5,075.6 4,978.0 US$ Convertible Bond 5,510.4 - 5,510.4 - Burnstone Debt 2,552.9 - - 2,552.9 Franco-Nevada liability 2.0 2.0 - - Stillwater Convertible Debentures 3.8 3.8 - - Other borrowings 252.3 252.3 - - - Interest 9,386.9 1,543.8 3,568.6 4,274.5 Total 44,931.5 13,151.5 18,850.0 12,930.0 Market risk Foreign currency sensitivity Certain of the Group’s US dollar borrowing facilities have been drawn down by companies with SA rand as their functional currency, therefore some of the Group’s borrowings are sensitive to changes in the rand/US dollar exchange rate. The Group is also exposed to foreign currency risk on intercompany loans denominated in foreign currencies to the extent that foreign exchange differences are recognised in profit or loss. A one percentage point change in the SA rand closing exchange rate of R14.69/US$ (2019: R14.00/US$ and 2018: R14.35/US$) would have changed the profit for the year by R147.9 million (2019: R102.2 million and 2018: R38.7 million). Interest rate sensitivity As at 31 December 2020, the Group’s total borrowings amounted to R18,382.6 million (2019: R23,736.2 million and 2018: R24,504.7 million). The Group generally does not undertake any specific action to cover its exposure to interest rate risk, although it may do so in specific circumstances. The portion of Sibanye-Stillwater’s interest-bearing borrowings at period end that is exposed to interest rate fluctuations is R18,376.7 million (2019: R23,730.7 million and 2018: R24,498.9 million). This debt is normally rolled for periods between one and three months and is therefore exposed to the rate changes in this period. At 31 December 2020, of the total borrowings, Rnil (2019: R2,500.0 million and 2018: R6,322.0 million) is exposed to changes in the JIBAR rate and R8,241.0 million (2019: R7,042.3 million and 2018: R3,871.6 million) is exposed to changes in the LIBOR rate. The table below summarises the effect of a change in finance expense on the Group’s profit or loss had JIBAR and LIBOR differed as indicated. The analysis is based on the assumption that the applicable interest rate increased/decreased with all other variables held constant. All financial instruments with fixed interest rates that are carried at amortised cost are not subject to the interest rate sensitivity analysis. Interest rate sensitivity analysis Change in interest expenses for a change in interest rate 1 Figures in million - SA rand (1.5)% (1.0)% (0.5)% 31 December 2020 - JIBAR - - - - - - - LIBOR 122.4 81.6 40.8 (40.8) (81.6) (122.4) Change in finance expense 122.4 81.6 40.8 (40.8) (81.6) (122.4) 31 December 2019 - JIBAR 37.5 25.0 12.5 (12.5) (25.0) (37.5) - LIBOR 105.6 70.4 35.2 (35.2) (70.4) (105.6) Change in finance expense 143.1 95.4 47.7 (47.7) (95.4) (143.1) 31 December 2018 - JIBAR 88.5 59.0 29.5 (29.5) (59.0) (88.5) - LIBOR 79.2 52.8 26.4 (26.4) (52.8) (79.2) Change in finance expense 167.7 111.8 55.9 (55.9) (111.8) (167.7) 1 Interest rate sensitivity analysis is performed on the borrowings balance at 31 December The exposure to interest rate changes and the contractual repricing dates The exposure of the Group’s borrowings to interest rate changes and the contractual repricing dates at the reporting dates is as follows: Figures in million - SA rand Floating rate with exposure to change in JIBAR - 2,500.0 6,322.0 Floating rate with exposure to change in LIBOR 8,157.5 7,042.3 3,871.6 Non-current borrowings exposed to interest rate changes 8,157.5 9,542.3 10,193.6 The Group has the following undrawn borrowing facilities: Committed 7,336.3 5,688.0 5,987.1 Uncommitted 2,459.7 1,050.0 757.7 Total undrawn facilities 9,796.0 6,738.0 6,744.8 All of the above facilities have floating rates. The undrawn committed facilities have the following expiry dates: - within one year 229.2 - 103.6 - later than one year and not later than two years 229.2 672.0 - - later than two years and not later than three years 6,877.9 5,016.0 5,883.5 Total undrawn committed facilities 7,336.3 5,688.0 5,987.1 28.9 Capital management The Group’s primary objective with regards to managing its capital is to ensure that there is sufficient capital available to support the funding requirements of the Group, including capital expenditure, in a way that: optimises the cost of capital; maximises shareholders’ returns; and ensures that the Group remains in a sound financial position. The Group manages and makes adjustments to the capital structure as and when borrowings mature or as and when funding is required. This may take the form of raising equity, market or bank debt or hybrids thereof. Opportunities in the market are also monitored closely to ensure that the most efficient funding solutions are implemented. The Group monitors capital using the ratio of net (cash)/debt to adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), but does not set absolute limits for this ratio. Figures in million - SA rand Borrowings 1 17,119.3 26,550.7 23,768.5 Cash and cash equivalents 2 20,205.9 5,586.3 2,499.4 Net (cash)/debt 3 (3,086.6) 20,964.4 21,269.1 Adjusted EBITDA 4 49,384.9 14,956.0 8,369.4 Net (cash)/debt to adjusted EBITDA (ratio) 5 (0.1) 1.4 2.5 1 Borrowings are only those borrowings that have recourse to Sibanye-Stillwater. Borrowings, therefore, exclude the Burnstone Debt and include the derivative financial instrument up to the settlement of the US$ Convertible Bond 2 Cash and cash equivalents exclude cash of Burnstone 3 Net (cash)/debt represents borrowings and bank overdraft less cash and cash equivalents. Borrowings are only those borrowings that have recourse to Sibanye-Stillwater and, therefore, exclude the Burnstone Debt and include the derivative financial instrument up to the settlement of the US$ Convertible Bond. Net (cash)/debt excludes cash of Burnstone 4 The adjusted EBITDA calculation is based on the definitions included in the facility agreements for compliance with the debt covenant formula, except for impact of new accounting standards and acquisitions, where the facility agreements allow the results from the acquired operations to be annualised. Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Adjusted EBITDA is not a measure of performance under IFRS and should be considered in addition to, and not as a substitute for, other measures of financial performance and liquidity 5 Net (cash)/debt to adjusted EBITDA ratio is defined as net (cash)/debt as of the end of a reporting period divided by adjusted EBITDA of the 12 months ended on the same reporting date. Non-IFRS measure such as net (cash)/debt to adjusted EBITDA is the responsibility of the Group's Board of Directors and is presented for illustration purposes only, and because of its nature, net (cash)/ debt to adjusted EBITDA should not be considered as a representation of financial performance under IFRS Reconciliation of profit/(loss) before royalties, carbon tax and tax to adjusted EBITDA: Figures in million - SA rand Profit/(loss) before royalties, carbon tax and tax 37,250.0 (856.3) (1,224.3) Adjusted for: Amortisation and depreciation 7,592.4 7,214.1 6,613.8 Interest income (1,065.4) (560.4) (482.1) Finance expense 3,151.8 3,302.5 3,134.7 Share-based payments 512.4 363.3 299.4 Loss/(gain) on financial instruments 2,450.3 6,015.1 (1,704.1) Loss/(gain) on foreign exchange differences 255.0 (325.5) (1,169.1) Share of results of equity-accounted investees after tax (1,699.8) (721.0) (344.2) Change in estimate of environmental rehabilitation obligation, (464.1) 88.9 (66.6) Gain on disposal of property, plant and equipment (98.8) (76.6) (60.2) (Reversal of impairments)/impairments (121.4) 86.0 3,041.4 Gain on derecognition of borrowing and derivative financial instrument - - (230.0) Gain on acquisition - (1,103.0) - Loss on BTT early settlement 186.2 - - Restructuring costs 436.2 1,252.4 142.8 Transaction costs 138.6 447.8 402.5 Loss on settlement of US$ Convertible Bond 1,506.7 - - Loss due to dilution of interest in joint operation 30.2 - - Income on settlement of dispute (580.0) - - IFRS 16 lease payments (147.7) (131.7) - Occupational healthcare expense 52.3 (39.6) 15.4 Adjusted EBITDA 49,384.9 14,956.0 8,369.4

Lease liabilities

Lease liabilities	12 Months Ended
	Dec. 31, 2020
Lease liabilities
Lease liabilities	29. Lease liabilities Accounting policy At the inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Lease liabilities are initially measured at the present value of the future lease payments at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the relevant incremental borrowing rate. Subsequently, lease liabilities are measured at amortised cost using the effective interest method. Lease liabilities are remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, or if the Group changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Group also elected to apply the recognition exemptions for lease contracts that, at the commencement date, have a lease term of 12 months or less and do not contain a purchase option, and lease contracts for which the underlying asset is of low value. The Group recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term to the extent applicable. In addition, certain variable lease payments are not permitted to be recognised as lease liabilities and are expensed as incurred. Figures in million - SA rand Notes Balance at beginning of the year 382.8 - - Impact of adopting IFRS 16 on 1 January 2019 - 302.0 - New leases and modifications 65.8 51.5 - Lease liabilities on acquisition of subsidiaries - 133.3 - Repayment of lease liabilities (147.7) (131.7) - Interest charge 33.9 33.9 - Re-classification and other (8.8) (5.7) - Foreign currency translation 0.8 (0.5) - Balance at end of the year 326.8 382.8 - Current portion of lease liabilities (103.6) (110.0) - Non-current lease liabilities 223.2 272.8 - Lease payments not recognised as a liability but expensed during the year Figures in million - SA rand Short-term leases 17.1 8.6 Leases of low value assets 83.2 34.4 Variable lease payments 10.8 6.5 Total 111.1 49.5 Maturity Analysis The lease liabilities are secured by the related underlying assets. The undiscounted maturity analysis of lease liabilities at 31 December is as follows: Figures in million - SA rand Total Within one Between After five years Contractual undiscounted cash flows - 2020 391.0 131.0 244.6 15.4 Contractual undiscounted cash flows - 2019 474.9 140.0 297.8 37.1

ENVIRONMENTAL REHABILITATION _2

ENVIRONMENTAL REHABILITATION OBLIGATION	12 Months Ended
	Dec. 31, 2020
ENVIRONMENTAL REHABILITATION OBLIGATION
ENVIRONMENTAL REHABILITATION OBLIGATION	30. Environmental rehabilitation obligation and other provisions Significant accounting judgements and estimates The Group’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. The Group recognises management’s best estimate for asset retirement obligations in the period in which they are incurred. Actual costs incurred in future periods could differ materially from the estimates. Additionally, future changes to environmental laws and regulations, life of mine estimates and discount rates could affect the carrying amount of this provision. The provision is calculated using the following assumptions: Inflation rate Discount rate LOM 2020 SA gold operations 6% 3.99% - 10.86% 1 – 21 years SA PGM operations 6% 3.99% - 10.80% 1 – 32 years US PGM operations 2% 1.45% - 1.65% 24 – 38 years 2019 SA gold operations 6% 6.69% - 9.99% 1 – 19 years SA PGM operations 6% 6.69% - 10.09% 1 – 31 years US PGM operations 2% 2.32% - 2.39% 25 – 37 years 2018 SA gold operations 6% 6.27% - 9.73% 1 – 19 years SA PGM operations 6% 6.27% - 9.81% 1 – 28 years US PGM operations 2% 2.87% - 3.02% 26 – 38 years Accounting policy Provisions are recognised when the Group has a present obligation, legal or constructive, resulting from past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Long-term environmental obligations are based on the Group’s environmental management plans, in compliance with applicable environmental and regulatory requirements. The estimated costs of rehabilitation are reviewed annually and adjusted as appropriate for changes in legislation, technology or other circumstances. Cost estimates are not reduced by the potential proceeds from the sale of assets or from plant clean up at closure. Based on disturbances to date, the net present value of expected rehabilitation cost estimates is recognised and provided for in full in the financial statements. The estimates are reviewed annually and are discounted using a risk-free rate that is adjusted to reflect the current market assessments of the time value of money. Annual changes in the provision consist of finance costs relating to the change in the present value of the provision and inflationary increases in the provision estimate, as well as changes in estimates. Changes in estimates are capitalised or reversed against the relevant asset or liability to the extent that it meets the definition of dismantling and removing the item and restoring the site on which it is located. Costs that relate to an existing condition caused by past operations and do not have a future economic benefit are recognised in profit or loss. If a decrease in the liability exceeds the carrying amount of the asset, the excess is recognised immediately in profit or loss. The present value of environmental disturbances created are capitalised to mining assets against an increase in the environmental rehabilitation obligation. Rehabilitation projects undertaken, included in the estimates are charged to the provision as incurred. The cost of ongoing current programmes to prevent and control environmental disturbances is recognised in profit or loss as incurred. The unwinding of the discount due to the passage of time is recognised as finance cost, and the capitalised cost is amortised over the remaining lives of the mines. Figures in million - SA rand Notes Balance at beginning of the year 8,714.8 6,294.2 4,678.7 Interest charge 683.8 578.7 398.8 Utilisation of environmental rehabilitation obligation 1 (97.2) (34.9) (32.3) Change in estimates charged to profit or loss 2 (374.6) 88.9 (90.4) Change in estimates capitalised 2 (317.6) 105.1 618.8 Environmental rehabilitation obligation on acquisition of subsidiaries - 1,696.9 672.7 Foreign currency translation 24.6 (14.1) 47.9 Balance at end of the year 8,633.8 8,714.8 6,294.2 Environmental rehabilitation obligation and other provisions consists of: Environmental rehabilitation obligation 8,516.6 8,597.6 6,176.2 Other provisions 117.2 117.2 118.0 Environmental rehabilitation obligation and other provisions 8,633.8 8,714.8 6,294.2 1 The cost of ongoing current programmes to prevent and control environmental disturbances, including reclamation activities, is charged to cost of sales as incurred 2 Changes in estimates result from changes in reserves and corresponding changes in life of mine, changes in discount rates, changes in closure cost estimates and changes in laws and regulations governing environmental matters The Group’s mining operations are required by law to undertake rehabilitation works as part of their ongoing operations. The Group makes contributions into environmental rehabilitation obligation funds (refer note 21) and holds guarantees to fund the estimated costs. Post closure water management liability The Group continues to monitor the potential risk of long-term Acid Mine Drainage (AMD) and other groundwater pollution challenges also experienced by peer mining groups. AMD relates to the acidification and contamination of naturally occurring water resources by pyrite-bearing ore contained in underground mines, rock dumps, tailings facilities and pits on surface. As yet, the Group has not been able to reliably determine the financial impact that AMD and groundwater pollution may have on the Group, nor the timing of possible outflow. The potential for AMD generation and other groundwater impacts how, where and if they will manifest and the associated environmental / closure liability will be determined as part of the Group’s quantification of any post-closure latent and residual environmental impacts using a robust and defendable risk assessment process – this will be a requirement in the proposed amended Financial Provisioning (FP) Regulations that comes into effect in June 2021. As per the recent closure process undertaken at our Cooke Operations, detailed studies to understand the hydrology and hydrogeology were undertaken, including the modelling of worst-case scenarios assuming waste on surface cannot be removed. These studies further included the modeling of the mined out void, re-watering rate and natural groundwater flow in the dolomite aquifer overlaying the mined-out area, including the relationship with adjacent mining areas and surface water resources to understand cumulative impacts. The conclusions from the studies were used to inform a risk assessment and closure strategy to reliably predict water quality impacts as part of long term sustainable closure solution. In addition, in the December 2020 closure liability assessments, the Group makes financial provision of R795.8 million (undiscounted) for what it specifically termed “Post Closure Aspects” – this includes but is not limited to amongst others, post-closure water management aspects such as initial and post-decant surface and groundwater monitoring, wetlands, biomonitoring and aquatics monitoring and care-and-maintenance monitoring. The Group, has a robust water conservation and demand management, compliance and closure water management strategy that aims to define and sustainably mitigate the potential risk of AMD and groundwater pollution. The Group operates a comprehensive water quality monitoring program, including bio-monitoring, as an early detection of potential AMD and groundwater pollution and has launched an initiative to understand the mining impacts on the various catchments within which the Group operates.

OCCUPATIONAL HEALTHCARE OBLIGAT

OCCUPATIONAL HEALTHCARE OBLIGATION	12 Months Ended
	Dec. 31, 2020
OCCUPATIONAL HEALTHCARE OBLIGATION
OCCUPATIONAL HEALTHCARE OBLIGATION	31. Occupational healthcare obligation Significant accounting judgements and estimates The Group recognises management’s best estimates to settle any occupational healthcare claims against the Group’s operations. The ultimate outcome of the number, timing and amount of successful claims to be paid out remains uncertain. The provision is consequently subject to adjustment in the future and actual costs incurred in future periods could differ materially from the estimates. Estimates that were used in the assessment include value of benefits per claimant, disease progression rates, required contributions, timing of payments, tracing pattern, period discount rates, period inflation rates and a 60% take-up rate. These estimates were informed by a professional opinion. Management discounted the possible cash outflows using a discount rate of 6.65% (2019: 8.25% and 2018: 8.83%). In assessing whether the Group has control, joint control or significant influence over the trust that administers the claim settlement process (refer below), judgement was applied in determining whether voting rights are relevant to determine power over the key activities of the trust, as well as analysing the influence of the various parties. No control, joint control or significant influence was identified, however should any key considerations change in future periods, these conclusions will be reassessed. Accounting policy Provisions are recognised when the Group has a present obligation, legal or constructive resulting from past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The estimated costs of settlement claims are reviewed at least annually and adjusted as appropriate for changes in cash flow predictions or other circumstances. Based on estimates to date, the net present value of expected settlement claims is recognised and provided for in full in the financial statements. The estimated cash flows are discounted using a risk-free rate with similar terms to the obligation to reflect the current market assessments of the time value of money. Annual changes in the provision consist of finance costs relating to the change in the present value of the provision and changes in estimates. On 3 May 2018, the Occupational Lung Disease Working Group (the Working Group), including Sibanye-Stillwater, agreed to an approximately R5 billion class action settlement with the claimants (Settlement Agreement). On 26 July 2019 the Gauteng High Court in Johannesburg approved the R5 billion Settlement Agreement in the silicosis class action suit. This Settlement Agreement provides compensation to all eligible workers suffering from silicosis and/or tuberculosis who worked in the Occupational Lung Disease Working Group companies’ mines from 12 March 1965 to the date of the Settlement Agreement. The Settlement Agreement required the formation of the Tshiamiso Trust (the Trust) to administer the claim settlement process, which includes tracing claimants, assessing and processing submitted claims and paying benefits to eligible claimants. The Trust will be funded by the participants to the Working Group through contributions determined in accordance with the Settlement Agreement. In addition, a special purpose vehicle was created with the objective of performing certain functions on behalf of the Working Group as set out in the deed of the Trust and Settlement Agreement. The special purpose vehicle and Trust are not controlled by the Group. On 19 December 2019 Sibanye-Stillwater provided a guarantee for an amount not exceeding R1,372 million in respect of administration contributions, initial benefit contributions and benefit contributions to the Trust as required by the trust deed. Sibanye-Stillwater currently has provided R1,194.6 million for its share of the settlement cost. The provision is consequently subject to adjustment in the future based on the number of eligible workers and changes in other assumptions. Figures in million - SA rand Notes Balance at beginning of the year 1,282.1 1,274.1 1,153.3 Interest charge 96.3 115.5 105.4 Change in estimate recognised in profit or loss 52.3 (39.6) 15.4 Payments made (236.1) (67.9) - Balance at the end of the year 1,194.6 1,282.1 1,274.1 Reconciliation of the non-current and current portion of the occupational healthcare obligation: Occupational healthcare obligation 1,194.6 1,282.1 1,274.1 Current portion of occupational healthcare obligation (156.9) (148.7) (109.9) Non-current portion of occupational healthcare obligation 1,037.7 1,133.4 1,164.2 DRDGOLD is not a party to the Working Group’s mediated settlement agreement and DRDGOLD maintains the view that it is too early to consider settlement of the matter, mainly for the following reasons:  the applicants have as yet not issued and served a summons (claim) in the matter to DRDGOLD;  there is no indication of the number of potential claimants that may join the class action against the DRDGOLD respondents; and  many principles upon which legal responsibility may be founded, are required to be substantially developed by the trial court (and possibly subsequent courts of appeal) to establish liability on the bases alleged by the applicants. In light of the above there is inadequate information for DRDGOLD to determine if a sufficient legal and factual basis exists to establish liability, and to quantify such potential liability.

Deferred revenue

Deferred revenue	12 Months Ended
	Dec. 31, 2020
Deferred revenue
DEFERRED REVENUE	32. Deferred revenue Significant accounting judgements and estimates Upfront cash deposits received for streaming transactions have been accounted for as contract liabilities (deferred revenue) in the scope of IFRS 15. These contracts are not financial instruments because they will be satisfied through the delivery of non-financial items (i.e. delivering of metal ounces) as part of the Group’s expected sale requirements, rather than cash or financial assets. It is the intention to satisfy the performance obligations under these streaming arrangements through the Group’s production, and revenue will be recognised over duration of the contracts as the Group satisfies its obligation to deliver metal ounces. Since these contracts are of a long-term nature and the Group received a portion of the consideration at the inception, these contracts contain a significant financing component under IFRS 15. The Group therefore made a critical estimate of the discount rate that should be applied to the contract liabilities over the life of contracts. Inputs to the model to unwind the Wheaton International advance received to revenue The advance received has been recognised on the statement of financial position as deferred revenue. The deferred revenue will be recognised as revenue in profit or loss based on the metal ounces/credits in relation to the expected total amount of metal credits to be delivered over the term of the arrangement. Each period management estimates the cumulative amount of the deferred revenue obligation that has been satisfied and, therefore, recognised as revenue. Key inputs into the model are: Key input Estimate at year end Further information Estimated financing rate over life of arrangement 4.6% - 5.2% Refer note 5.2 Remaining life of stream 88 years The starting point for the life of the stream is the approved life of mine for the US PGM operations. However, as IFRS 15 requires the constraint on revenue recognition to be considered, it is more prudent to include a portion of resources in the life of stream for the purposes of revenue recognition. This will reduce the chance of having a significant decrease in revenue recognised in the future, when the life of mine is updated to include a conversion of resources to reserves. As such, Sibanye-Stillwater management have determined that is it appropriate to include 50% of inferred resources. Palladium entitlement percentage 4.5% The palladium entitlement percentage will be either 4.5%, 2.25% or 1% over the life of the mine, depending on whether or not the advance has been fully reduced, and a certain number of contractual ounces have been delivered (375,000 ounces for the first trigger drop down to 2.25% and 550,000 ounces for the second trigger drop down rate to 1%). Monthly cash percentage 18% The monthly cash payment to be received is 18%, 16%, 14% or 10% of the market price of the metal credit delivery to Wheaton International while the advance is not fully reduced. After the advance has been fully reduced, the cash percentage is 22%, 20%, 18% or 14%. The percentage applicable depends on the investment grade of the Group and its leverage ratio. As long as Sibanye-Stillwater’s current investment grade conditions as stipulated in the contract have been satisfied, the monthly cash percentage decreases if the Group’s leverage ratio increases above 3.5:1. The balance of the ounces in the monthly delivery (i.e. 100%-18%= 82%) is then used to determine the utilisation of the deferred revenue balance. Commodity prices Five day simple average calculated the day before delivery The value of each metal credit delivery is determined in terms of the contract. Any changes to the above key inputs could significantly change the quantum of the cumulative revenue amount recognised in profit or loss. Any changes in the life of mine are accounted for prospectively as a cumulative catch-up in the year that the life of mine estimate above changes, or the inclusion of resources changes. Inputs to the model to unwind the BTT advance received to revenue The advance received was recognised on the statement of financial position as deferred revenue. Before the early settlement of the BTT project (refer below), the deferred revenue was recognised as revenue in profit or loss based on the metal ounces/credits in relation to the expected total amount of metal credits to be delivered over the term of the arrangement. Each period, up to the early settlement of the BTT project, management estimated the cumulative amount of the deferred revenue obligation that had been satisfied and, therefore, recognised as revenue. Key inputs into the model before settlement were: Further information Estimated financing rate over life of arrangement 11.5% Refer note 5.2 Remaining life of stream 6 years The life of the stream was determined by the reserves of the Marikana Easterns’ Tailings Dam no.1. 6E PGM entitlement percentage 23% The 6E PGM entitlement percentage ranged from 23% to 38% based on a weighted 6E PGM basket price that was determined monthly. Monthly cash percentage 20% The monthly cash payment received was a percentage of the 6E PGM weighted basket price, ranging from 16% to 20%, and was based on a weighted 6E PGM basket price that is determined monthly. This cash payment was capped at a minimum of $106 per ounce and a maximum of $280 per ounce. Commodity prices Average monthly basket price The monthly basket price for any calendar month was calculated by dividing the sum of the monthly average value of weighted 6E PGM basket by the total number of ounces for such calendar month. Since the BTT project was early settled (refer below), there are no remaining significant accounting judgements or estimates at 31 December 2020 relating to this stream. Accounting policy Consideration received in advance is recognised as a contract liability (deferred revenue) under IFRS 15 as control has not yet transferred. Where a significant financing component is identified as a result of the difference in the timing of advance consideration received and when control of the metal promised transfers, interest expenses on the deferred revenue balance is recognised in finance costs. Where a contract has a period of a year or less between receiving advance consideration and when control of the metal promised transfers, the group may elect on a contract-by-contract basis to apply the IFRS 15 practical expedient not to adjust for the effects of a significant financing component. Wheaton Stream In July 2018, the Group entered into a gold and palladium supply arrangement in exchange for an upfront advance payment of US$500 million (Wheaton Stream). The arrangement has been accounted for as a contract in the scope of IFRS 15 whereby the advance payment has been recorded as deferred revenue. The revenue from the advance payment is recognised as the gold and palladium is allocated to the appropriate Wheaton International account. An interest cost, representing the significant financing component of the upfront deposit on the deferred revenue balance, is also recognised as part of finance costs. This finance cost increases the deferred revenue balance, ultimately resulting in revenue when the deferred revenue is recognised over the life of mine. Forward gold sale – April 2019 On 11 April 2019, the Group concluded a forward gold sale arrangement whereby the Group received a cash prepayment of US$125 million (approximately R1.75 billion) in exchange for four fortnightly deliveries of 26,476 ounces of gold (totaling 105,906 ounces or 3,294 kilograms) between 1 October 2019 and 15 November 2019. The revenue from the prepayment was recognised in four equal parts on delivery of the gold. The gold price delivered under the prepayment was hedged with a cap price of $1,323 per ounce and a floor price of $1,200 per ounce. The Group received, and recognised, the difference between the floor price and the spot price (subject to a maximum of the cap price) on delivery of the gold. Forward gold sale – October 2019 On 21 October 2019, the Group concluded a forward gold sale arrangement whereby the Group received a cash prepayment of R1.1 billion in exchange for future delivery of 8,482 ounces (263.8 kilograms) of gold every two weeks from 10 July 2020 to 16 October 2020 subject to an initial reference price of R17,371 per ounce comprising 80% of the prevailing price on execution date. The initial forward sale was unhedged and the Group would have received (or paid) the difference between the spot price and the prepayment price of R17,371/oz. On 6 July 2020, before the first delivery date, the Group agreed revised terms in which the ounces to be delivered every two weeks were reduced from 8,482 ounces (263.8 kilograms) to 6,523.2 ounces (202.9 kilograms), totaling 52,185.2 ounces (1,623.1 kilograms). In addition, a floor of R27,700/oz and a cap of R33,386/oz was introduced. The final delivery was made on 15 October 2020. BTT stream and WPL forward platinum sale During 2016 Lonmin secured funding of US$50 million to build the BTT plant, through a finance metal streaming arrangement receivable in instalments. The US$50 million was accounted for as deferred revenue as it would be repaid by way of discounted value of PGM metal sales. Contractual deliveries were at a discounted price and the value of the discount over and above the US$50 million upfront payment was prorated over the project lifetime and charged to the consolidated income statement as a finance expense. The plant was commissioned during February 2018. The Group determined the fair value of the BTT deferred revenue to be R628 million at acquisition and R607 million at 31 December 2019. On 24 January 2020, Western Platinum Proprietary Limited (WPL), Eastern Platinum Limited and Lonmin (collectively the “Purchasers”), subsidiaries of Sibanye-Stillwater, entered into a Release and Cancellation Agreement (“the Release Agreement”) with RFW Lonmin Investments Limited (“the Seller”) in respect of the BTT. The Release Agreement sets out the terms and conditions upon which the Purchasers have purchased the Seller’s entire interest in the metals purchase agreement for an amount of US$50 million to be settled in cash. The BTT transaction was implemented and the liability settled on 6 March 2020. WPL concluded a forward platinum sale arrangement on 3 March 2020 to fund the settlement of the BTT liability. WPL received a cash prepayment of US$50 million (R771 million) in exchange for the future delivery of 72,886 ounces of platinum on set dates between June and December 2020. The platinum price delivered under the prepayment was hedged with a cap price of US$1,050 per ounce and a floor price of US$700 per ounce. The Group received, and recognised, the difference between the floor price and the monthly average price (subject to a maximum of the cap price) on delivery of the platinum. The final delivery under the forward platinum sale arrangement was made on 7 December 2020. The following table summarises the changes in deferred revenue: Figures in million - SA rand Note Balance at beginning of the year 8,167.1 6,555.4 - Deferred revenue advance received 1 770.6 2,859.3 6,555.4 BTT early settlement payment (787.1) - - Deferred revenue recognised during the period 2 (2,256.4) (2,227.5) (160.3) Interest charge 349.2 352.3 160.3 Loss on BTT early settlement 186.2 - - Deferred revenue recognised on acquisition of subsidiary - 627.6 - Balance at the end of the year 6,429.6 8,167.1 6,555.4 Reconciliation of the non-current and current portion of the deferred revenue: Deferred revenue 6,429.6 8,167.1 6,555.4 Current portion of deferred revenue (66.9) (1,270.6) (30.1) Non-current portion of deferred revenue 6,362.7 6,896.5 6,525.3 1 The R770.6 million received relates to the WPL forward platinum sale arrangement entered into on 3 March 2020 2 Revenue recognised during the year ended 31 December 2020 relates to R785.1 million recognised in respect of the WPL forward platinum sale arrangement entered into on 3 March 2020 (2019: Nil), R1,108.0 million in respect of the October 2019 forward gold sale arrangement (2019: R1,751.4 million in respect of the April 2019 forward gold sale arrangement) and R344.5 million relating to the Wheaton Stream (2019: R414.0 million, 2018: R160.3 million). Included in revenue recognised for the year ended 31 December 2020, is R18.8 million (2019: R62.1 million) in respect of the BTT

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2020
Other payables
TRADE AND OTHER PAYABLES	33. Trade and other payables Accounting policy Trade and other payables, excluding payroll creditors and leave pay accruals are non-derivative financial liabilities categorised as other financial liabilities. Trade and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Provision is made for employee entitlement benefits accumulated as a result of employees rendering services up to the reporting date. Liabilities arising in respect of wages and salaries, annual leave and other benefits due to be settled within 12 months of the reporting date are measured at rates which are expected to be paid when the liability is settled. Termination benefits are expensed and an accrual raised at the earlier of when the Group can no longer withdraw the offer of those benefits and when the Group recognises costs for a restructuring. If benefits are not expected to be settled wholly within 12 months of the reporting date, they are discounted. All other employee entitlement liabilities are measured at the present value of estimated payments to be made in respect of services rendered up to reporting date. Figures in million - SA rand Trade creditors 4,325.1 3,208.0 2,200.0 Accruals and other creditors 4,166.2 3,195.6 2,952.7 Other 32.5 1,335.9 7.2 Financial liabilities 8,523.8 7,739.5 5,159.9 Payroll creditors 2,491.5 1,898.2 1,465.3 Leave pay accrual 2,016.4 1,692.5 1,152.6 VAT payable 175.7 135.7 78.5 Total trade and other payables 13,207.4 11,465.9 7,856.3 Fair value of trade and other payables The fair value of trade and other payables approximate the carrying value due to the short maturity. Liquidity risk Trade and other creditors are expected to be settled within 12 months from the reporting date.

CASH GENERATED BY OPERATIONS

CASH GENERATED BY OPERATIONS	12 Months Ended
	Dec. 31, 2020
CASH GENERATED BY OPERATIONS
Disclosure of cash generated by operations	34. Cash generated by operations Figures in million - SA rand Notes Profit/(Loss) for the year 30,621.6 432.8 (2,520.7) Royalties 1,765.0 431.0 212.6 Carbon tax 5.2 12.9 - Mining and income tax 4,858.2 (1,733.0) 1,083.8 Interest income (1,065.4) (560.4) (482.1) Finance expense 3,151.8 3,302.5 3,134.7 Profit before interest, royalties and tax 39,336.4 1,885.8 1,428.3 Non-cash adjusting items: Amortisation and depreciation 7,592.4 7,214.1 6,613.8 Share-based payments 512.4 363.3 299.4 Loss/(gain) on financial instruments 1,904.8 5,731.3 (1,591.3) Gain on foreign exchange differences (409.9) (461.4) (241.3) Share of results of equity-accounted investees after tax (1,699.8) (721.0) (344.2) (Reversal of impairments)/Impairments (121.4) 86.0 3,041.4 Gain on derecognition of borrowings and derivative financial instrument 28.4, 28.5 - - (230.0) Loss on settlement of US$ Convertible Bond 1,506.7 - - Occupational healthcare expense 52.3 (39.6) 15.4 Change in estimate of environmental rehabilitation obligation (464.1) 89.6 (90.4) Gain on acquisition - (1,103.0) - Deferred revenue recognised (2,256.4) (2,227.5) - Loss on BTT early settlement 186.2 - - Cash adjusting items: Income on settlement of dispute (580.0) - - Payment of occupational healthcare liability (236.1) (67.9) - Other non-cash and cash adjusting items (138.0) (183.8) (192.1) Total cash generated by operations 45,185.5 10,565.9 8,709.0

CHANGE IN WORKING CAPITAL

CHANGE IN WORKING CAPITAL	12 Months Ended
	Dec. 31, 2020
Change In Working Capital [Abstract]
Change in working capital	35. Change in working capital Figures in million - SA rand Inventories (9,026.8) (5,000.0) (924.8) Trade and other receivables (2,167.0) 3,115.2 (461.0) Trade and other payables 1,758.7 1,259.2 315.8 Total change in working capital (9,435.1) (625.6) (1,070.0)

Financial instruments and risk

Financial instruments and risk management	12 Months Ended
	Dec. 31, 2020
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	36. Financial instruments and risk management Accounting policy On initial recognition, a financial asset is classified as measured at either amortised cost, fair value through other comprehensive income, or fair value through profit or loss. The Group initially recognises debt instruments issued and trade and other receivables, on the date these are originated. All other financial assets and financial liabilities are recognised initially when the Group becomes a party to the contractual provisions of the instrument. The classification of financial assets at initial recognition that are debt instruments depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. In order for a financial asset to be classified and measured at amortised cost, it needs to give rise to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. This assessment is performed at an instrument level. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model. The Group’s business model for managing financial assets that are debt instruments refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortised cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows. The Group recognises an allowance for expected credit losses (ECLs) on all debt instruments not held at fair value through profit or loss to the extent applicable. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade and other receivables due in less than 12 months, the Group applies the simplified approach in calculating ECLs, as permitted by IFRS 9. Therefore, the Group does not track changes in credit risk, but instead, recognises a loss allowance based on the financial asset’s lifetime ECL at each reporting date. Impairment losses are recognised through profit or loss. The Group derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all the risks and rewards of the ownership of the financial asset are transferred. The Group derecognises a financial liability when its contractual obligations are discharged, cancelled or expired. Any interest in such transferred financial asset that is created or retained by the Group is recognised as a separate asset or liability. The particular recognition and measurement methods adopted are disclosed in the individual policy statements associated with each item. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid is recognised in profit or loss. 36.1 Accounting classifications and measurement of fair values The following methods and assumptions were used to estimate the fair value of each class of financial instrument:  Other receivables and other payables Due to the approaches applied in calculating the carrying values as described in note 22, the fair values approximate the carrying value.  Trade and other receivables/payables, and cash and cash equivalents The carrying amounts approximate fair values due to the short maturity of these instruments for financial instruments measured at amortised cost. The fair value for trade receivables measured at fair value through profit or loss (PGM concentrate sales) are determined based on ruling market prices, volatilities and interest rates.  Environmental rehabilitation obligation funds Environmental rehabilitation obligation funds comprise equity-linked notes, a fixed income portfolio of bonds as well as fixed and call deposits. The environmental rehabilitation obligation funds are stated at fair value based on the nature of the fund’s investments. The fair value of publicly traded instruments is based on quoted market values. For the environmental rehabilitation obligation funds categorised as level two on the fair value hierarchy, equity-linked notes have a fixed component of 5% capital guarantee and equity-linked portion which is linked to the performance of the JSE top 40 index. Fair value is determined by the fund manager based on the composition of the underlying investment portfolio, relevant equity prices and the terms of the investments. The fixed income portfolio consists of instruments such as government bonds and inflation-linked bonds. Valuations are performed by the fund manager based on the composition of the portfolio, the relevant investment terms and through reference to market related interest rates.  Other investments The fair values of listed investments are based on the quoted prices available from the relevant stock exchanges. The carrying amounts of other short-term investment products with short maturity dates approximate fair value. The fair values of non-listed investments are determined through valuation techniques that include inputs that are not based on observable market data. These inputs include price/book ratios as well as marketability and minority shareholding discounts which are impacted by the size of the shareholding.  Borrowings The fair value of variable interest rate borrowings approximates its carrying amounts as the interest rates charged are considered marked related. However, since there is also fixed interest rate borrowings, fair values are disclosed in note 28.  Derivative financial instruments The fair value of derivative financial instruments is estimated based on ruling market prices, volatilities and interest rates, option pricing methodologies based on observable quoted inputs. All derivatives are carried on the statement of financial position at fair value. The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments:  Level 1: unadjusted quoted prices in active markets for identical asset or liabilities;  Level 2: inputs other than quoted prices in level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices); and  Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). The following table set out the Group’s significant financial instruments measured at fair value by level within the fair value hierarchy: Figures in million - SA rand 2020 2019 2018 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets measured at fair value - Environmental rehabilitation obligation funds 4,111.0 823.0 - 3,578.3 1,023.9 - 364.7 - - Trade receivables - PGM concentrate sales - 4,030.0 - - 2,341.6 - - - - Other investments 603.4 - 243.6 414.7 - 184.0 81.5 - 74.5 - Palladium hedge contract - -* - - - - - - - Financial liabilities measured at fair value - Derivative financial instrument - - - - 4,144.9 - - 408.8 - - Gold hedge contracts - -* - - 68.3 - - 240.8 - * Less than R0.1 million In the normal course of its operations, the Group is exposed to market risks, including commodity price, foreign currency, interest rate, liquidity and credit risk associated with underlying assets, liabilities and anticipated transactions. In order to manage these risks, the Group has developed a comprehensive risk management process to facilitate control and monitoring of these risks. 36.2 Risk management activities Controlling and managing risk in the Group Sibanye-Stillwater has policies in areas such as counterparty exposure, hedging practices and prudential limits which have been approved by Sibanye-Stillwater’s Board of Directors (the Board). Management of financial risk is centralised at Sibanye-Stillwater's treasury department (Treasury), which acts as the interface between Sibanye-Stillwater’s Operations and counterparty banks. Treasury manages financial risk in accordance with the policies and procedures established by the Board and executive committee. The Board has approved dealing limits for money market, foreign exchange and commodity transactions, which Treasury is required to adhere to. Among other restrictions, these limits describe which instruments may be traded and demarcate open position limits for each category as well as indicating counterparty credit-related limits. The dealing exposure and limits are checked and controlled each day and reported to the CFO. The objective of Treasury is to manage all financial risks arising from the Group’s business activities in order to protect profit and cash flows. Treasury activities of Sibanye-Stillwater and its subsidiaries are guided by the Treasury Policy, the Treasury Framework as well as domestic and international financial market regulations. Treasury activities are currently performed within the Treasury Framework with appropriate resolutions from the Board, which are reviewed and approved annually by the Audit Committee. The financial risk management objectives of the Group are defined as follows:  Liquidity risk management: the objective is to ensure that the Group is able to meet its short-term commitments through the effective and efficient management of cash and usage of credit facilities.  Currency risk management: the objective is to maximise the Group’s profits by minimising currency fluctuations.  Funding risk management: the objective is to meet funding requirements timeously and at competitive rates by adopting reliable liquidity management procedures.  Investment risk management: the objective is to achieve optimal returns on surplus funds.  Interest rate risk management: the objective is to identify opportunities to prudently manage interest rate exposures.  Counterparty exposure: the objective is to only deal with a limited number of approved counterparts that are of a sound financial standing and who have an official credit rating. The Group is limited to a maximum investment of 2.5% of the financial institutions’ equity, which is dependent on the institutions’ credit rating. The credit rating used is Fitch Ratings’ short-term credit rating for financial institutions.  Commodity price risk management: commodity risk management takes place within limits and with counterparts as approved in the treasury framework. Credit risk Credit risk represents risk that an entity will suffer a financial loss due to the other party of a financial instrument not discharging its obligation. The Group has reduced its exposure to credit risk by dealing with a limited number of approved counterparties. The Group approves these counterparties according to its risk management policy and ensures that they are of good credit quality. The carrying value of the financial assets represents the combined maximum credit risk exposure of the Group. Concentration of credit risk on cash and cash equivalents and non-current assets is considered minimal due to the abovementioned investment risk management and counterparty exposure risk management policies (refer notes 21, 22, 24 and 25). Liquidity risk In the ordinary course of business, the Group receives cash proceeds from its operations and is required to fund working capital and capital expenditure requirements. The cash is managed to ensure surplus funds are invested to maximise returns whilst ensuring that capital is safeguarded to the maximum extent possible by investing only with top financial institutions (refer note 28.8). Uncommitted borrowing facilities are maintained with several banking counterparties to meet the Group’s normal and contingency funding requirements (refer note 28.8). Working capital and going concern assessment For the year ended 31 December 2020, the Group realised a profit of R30,621.6 million (31 December 2019: R432.8 million, 2018: loss of R2,520.7 million). As at 31 December 2020 the Group’s current assets exceeded its current liabilities by R34,755.5 million (31 December 2019: R11,836.9 million, 31 December 2018: R562.7 million) and the Group’s total assets exceeded its total liabilities by R70,716.0 million (31 December 2019: R31,138.3 million, 31 December 2018: R24,724.4 million). During the year ended 31 December 2020 the Group generated net cash from operating activities of R27,149.3 million (31 December 2019: R9,464.0 million, 31 December 2018: R12,197.2 million). The Group currently has committed undrawn debt facilities of R7,336.3 million at 31 December 2020 (31 December 2019: R5,688.0 million, 31 December 2018: R5,987.1 million) and cash balances of R20,239.8 million (31 December 2019: R5,619.0 million, 31 December 2018: R2,549.1 million). The most immediate debt maturity is the US$353.7 million June 2022 High Yield bond maturity, and an early restructure and/or settlement of this tranche could be undertaken during 2021. Additionally, during March 2021 the Group successfully extended the first maturity date for the remaining lender, as a result US$150 million of the USD Revolving Credit Facility (RCF) matures in April 2022, with the US$450 million balance of the USD RCF maturing in April 2023. As at 31 December 2020 only US$475 million of the US$600 million USD RCF was drawn. The R5.5 billion RCF was fully repaid during August 2020 with the full balance being undrawn at 31 December 2020 and available until November 2023, given the exercise of the first extension option. During October 2020 the US$ Convertible bond was settled through cash (R13.2 million) and the issue of shares (R12,573.2 million, refer note 28.5), further strengthening the balance sheet whilst preserving cash. Given the high level of available cash and undrawn facilities and resultant strong liquidity position, no imminent refinancing of debt is required. The Group’s leverage ratio (net (cash)/debt to adjusted EBITDA) as at 31 December 2020 was (0.1):1 (31 December 2019 was 1.4:1, 31 December 2018 was 2.5:1) and its interest coverage ratio (adjusted EBITDA to net finance charges) was 79.8:1 (31 December 2019 was 6.5:1, 31 December 2018 was 4.9:1). Both considerably better than the maximum permitted leverage ratio of at most 2.5:1 (up to 31 December 2019 3.5:1); and minimum required interest coverage ratio of 4.0:1, calculated on a quarterly basis, required under the US$600 million RCF and the R5.5 billion RCF. Gold and PGMs are sold in US dollars with most of the South African operating costs incurred in rand, as such the Group’s results and financial condition will be impacted if there is a material change in the rand/US dollar exchange rate. High levels of volatility in commodity prices may also impact on profitability. Due to the nature of deep level mining, industrial and mining accidents may result in operational disruptions such as stoppages which could result in increased production costs as well as financial and regulatory liabilities. Further, Sibanye-Stillwater’s operations may be adversely affected by production stoppages caused by labour unrests, union activity or other factors. Any additional regulatory restrictions imposed by the South African government to reduce the spread of the COVID-19 pandemic (refer below) could adversely affect the 2021 production outlook of the South African operations. Presently, there are no COVID-19 related work stoppages being imposed by either the Federal government and the State of Montana. However, the ongoing need to maintain COVID-19 protocols in the US, due to state and federal guidelines and the Montana Operation’s own processes to manage its COVID-19 exposures, is having an impact on productivity and may adversely affect the 2021 production outlook of the US PGM operations. These productivity impacts include, but are not limited to, staggered shift arrangements, duplicate transport, mandatory screening, contact tracing and quarantining where necessary. These factors could impact on cash generated or utilised by the Group, as well as adjusted EBITDA and financial covenants. The following events, reported in our annual report for the year ended 31 December 2020, impacted on the profitability of the Group for the year under review: · Anglo American Platinum Limited’s (Anglo Plats) temporary shutdown of its converter plant (force majeure declared on 6 March 2020) – during the force majeure period, material produced by the Rustenburg, Platinum Mile and Kroondal operations was delivered to our Marikana processing facility. The converter plant at Anglo Plats was brought back into production on 12 May 2020 and Anglo Plats lifted the force majeure. On 31 May 2020 the converter plant was again shut down due to a water leak in the high-pressure cooling section of the converter which was repaired by mid-June 2020. The toll treatment agreement between Anglo Plats and our Rustenburg operation, and the purchase of concentrate agreement with our Kroondal and Platinum Mile operations continued after Anglo repaired and recommissioned its converter plant. · COVID-19 outbreak in South Africa – the President of the Republic of South Africa announced a nation-wide lockdown from midnight 26 March 2020, which was amended through a notice published by the South African government on 16 April 2020 allowing for our South African mining operations to be conducted at a reduced capacity of not more than 50%. From 17 April 2020, management commenced implementing its strategy to mobilise the required employee complement to safely ramp up production at our South African operations to the initial restricted 50%. Subsequent directives issued by the Minister of Mineral Resources and Energy and the easing of lockdown restrictions allowed for the controlled ramp up of production under stringent regulations. These measures had a significant adverse impact on our production from our South African operations during Q2 2020. At 30 June 2020 the SA Gold and SA PGM operations were at a production capacity of 86% and 73%, respectively. Our strategy to safely mobilise employees and ramp up to near normal production levels by the end of H2 2020 was successfully delivered. By the end of December 2020 the SA gold operations were almost ramped up to normal production capacity, however the momentum of ramping up into January 2021 was disturbed by Christmas break whereby the pace of employees returning back was slower than anticipated, especially those foreign nationals returning from the SADC countries where stricter border controls were implemented. The return to work was impacted due to the extended screening process and compliance requirements linked to the National Government level 3 lockdown regulations which was imposed in December 2020 and January 2021. By the end of December 2020, the SA PGM operations were ramped up to normal production capacity, however the momentum of ramping up into January 2021 was also disturbed by Christmas break whereby the pace of employees returning back was slower than anticipated due to the extended screening process. The extended period of screening was caused by the compliance requirements to level 3 National government lockdown regulations which require every employee returning from the Christmas break to be tested and screened for COVID-19. In H1 2020, capital expenditure at the South African operations was deferred to H2 2020 mainly due to the COVID-19 lockdowns, with capital expenditure in H2 2020 mainly incurred in the Infrastructure, safety and compliance projects. The deferral of such capital expenditure projects will flow into Q1 2021 and is also reflected as an increase in the 2021 capex plan. · Although no formal lock down was experienced at our US PGM operations during 2020, the operational performance of our US PGM operations was negatively impacted by COVID-19, with proactive COVID-19 measures required to mitigate the spread of the COVID-19 pandemic and contain liquidity for the Group. This, amongst others, resulted in the deferral of capital project activity, the delay in receipt of key sustaining and growth capital items and a curtailment in recycling operation activity for a portion of 2020. The need to demobilize key project contractors during the onset of COVID-19, together with force majeure declaration's on key project infrastructure, contributed to the Stillwater East (Blitz) project being delayed by 24 months. Our recycling operations saw a noticeable market liquidity driven slow down early on in the pandemic, although a recovery in the secondary supply market occurred during the second half of 2020. The US PGM Operations saw production losses of approximately 4% due to COVID-19 during 2020. During December 2020 and January 2021 South Africa experienced a second wave of COVID-19 infections which was contained . Although the South African government introduced a level 3 lock down commencing from 28 December 2020, which was subsequently reduced to level 1 lock down, this did not impose further restrictions on our South African operations. COVID-19 infection rates remain high across the United States and our Montana Operations continue to operate under strict COVID-19 protocols. Although further waves of COVID-19 infections could result in further restrictions on the Group which could affect its operational performance, management believes that the educational, safety and continued awareness measures already embedded at all our operations should limit the spread of infections. The Group has thoroughly demonstrated its ability to proactively manage liquidity risk through these extraordinary times. Our improved geographical and commodity diversification, along with improved commodity prices, cost containment, and increased operational scale have enabled management to successfully mitigate the simultaneous impact of these abnormal events during 2020, navigating the Group to well below its targeted leverage ratio of below 1:1. Notwithstanding the exceptionally strong current liquidity position and financial outlook, further amendments to COVID-19 regulations or uncontrolled infection rates could impose additional restrictions on both our US PGM and South African operations that may adversely impact the production outlook for 2021. This could deteriorate the Group’s forecasted liquidity position and may require the Group to further increase operational flexibility by adjusting mine plans, reducing capital expenditure and/or selling assets. The Group may also, if necessary, be required to consider options to increase funding flexibility which may include, amongst others, additional loan facilities or debt capital market issuances, streaming facilities, prepayment facilities or, in the event that other options are not deemed preferable or achievable by the Board, an equity capital raise. The Group could also, with lender approval, request covenant amendments or restructure facilities. During past adversity management has successfully implemented similar actions. Management believes that the cash generated by its operations, cash on hand, the unutilised debt facilities as well as additional funding opportunities will enable the Group to continue to meet its obligations as they fall due. The consolidated financial statements for the year ended 31 December 2020, therefore, have been prepared on a going concern basis. Market risk The Group is exposed to market risks, including foreign currency, commodity price and interest rate risk associated with underlying assets, liabilities and anticipated transactions. Following periodic evaluation of these exposures, the Group may enter into derivative financial instruments to manage some of these exposures. The effects of reasonable possible changes of relevant risk variables on profit or loss or shareholders’ equity are determined by relating the reasonable possible change in the risk variable to the balance of financial instruments at period end date. The amounts generated from the sensitivity analyses are forward-looking estimates of market risks assuming certain adverse or favourable market conditions occur. Actual results in the future may differ materially from those projected results and therefore should not be considered a projection of likely future events and gains/losses. Foreign currency risk Sibanye-Stillwater’s operations are all located in South Africa except for Stillwater and Mimosa, which are located in the US and Zimbabwe, respectively, and its revenues are sensitive to changes in the US dollar gold and PGM price and the rand/US dollar exchange rate (the exchange rate). Depreciation of the rand against the US dollar results in Sibanye-Stillwater’s revenues and operating margin increasing. Conversely, should the rand appreciate against the US dollar, revenues and operating margins would decrease. The impact on profitability of any change in the exchange rate can be substantial. Furthermore, the exchange rates obtained when converting US dollars to rand are set by foreign exchange markets over which Sibanye-Stillwater has no control. The relationship between currencies and commodities, which includes the gold price, is complex and changes in exchange rates can influence commodity prices and vice versa. In the ordinary course of business, the Group enters into transactions, such as gold sales and PGM sales, denominated in foreign currencies, primarily US dollar. Although this exposes the Group to transaction and translation exposure from fluctuations in foreign currency exchange rates, the Group does not generally hedge this exposure, although it could be considered for significant expenditures based in foreign currency or those items which have long lead times to produce or deliver. Also, the Group on occasion undertakes currency hedging to take advantage of favourable short-term fluctuations in exchange rates when management believes exchange rates are at unsustainably high levels. Currency risk also exists on account of financial instruments being denominated in a currency that is not the functional currency and being of a monetary nature. This includes but is not limited to US$600 million RCF (refer note 28.1), Burnstone Debt (refer note 28.6) and Franco-Nevada liability. For additional disclosures, refer notes 3 and 28. Foreign currency economic hedging experience During 2020, a number of intra month (i.e. up to 21 days) forward exchange rate contracts were executed to hedge a known currency inflow. During 2019 the same principle was applied to known currency inflows related to PGM sales. As at 31 December 2020 and 31 December 2019, Sibanye-Stillwater had no outstanding foreign currency contract positions. As at 31 December 2018, Sibanye-Stillwater had a foreign currency contract position of US$12.1 million at a weighted average rate of R14.11/US$. Commodity price risk The market price of commodities has a significant effect on the results of operations of the Group and the ability of the Group to pay dividends and undertake capital expenditures. The gold and PGM basket prices have historically fluctuated widely and are affected by numerous industry factors over which the Group does not have any control (refer note 24). The aggregate effect of these factors on the gold and PGM basket prices, all of which are beyond the control of the Group, is difficult for the Group to predict. Commodity price hedging policy As a general rule, the Group does not enter into forward sales, derivatives or other hedging arrangements to establish a price in advance for future gold and PGM production. Commodity hedging could, however, be considered in future under one or more of the following circumstances: to protect cash flows at times of significant capital expenditure; financing projects or to safeguard the viability of higher cost operations. To the extent that it enters into commodity hedging arrangements, the Group seeks to use different counterparty banks consisting of local and international banks to spread risk. None of the counterparties is affiliated with, or related to parties of the Group. Commodity price hedging experience At 31 December 2020, Sibanye-Stillwater had the following gold and palladium commodity price hedges outstanding: · A total of 450kg gold at an average floor price of R800,000/kg and capped price of R1,080,000/kg which matures in March 2021. · A total of 130,000oz palladium at an average floor price of US$1,500/oz and capped price of US$3,400/oz which matures in February 2022. Commodity price contract position As of 31 December 2020 and 2019, Sibanye-Stillwater had no outstanding commodity forward sale contracts for mined production. Interest rate risk The Group’s income and operating cash flows are dependent of changes in market interest rates. The Group’s interest rate risk arises from long-term borrowings. For additional disclosures, refer to note 28.8.

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2020
COMMITMENTS
COMMITMENTS	37. Commitments Figures in million - SA rand Capital expenditure Authorised 7,534.8 5,972.3 4,411.7 Kloof 1,515.6 1,289.8 970.2 Driefontein 884.8 846.1 830.9 Beatrix 169.4 231.7 218.0 SGL corporate 961.0 762.4 - Cooke 54.1 55.1 195.5 Burnstone 8.0 5.4 40.4 Kroondal 318.9 220.3 131.6 Platinum Mile - 19.9 72.3 Rustenburg operation 2,573.7 2,033.1 1,830.0 Marikana 63.4 153.4 - Other 1 985.9 355.1 122.8 Contracted for 772.7 594.5 281.8 Other guarantees 1,487.8 1,420.5 266.7 1 Includes authorised capital expenditure relating to DRDGOLD of R605 .1 million (2019: R133.5 million, 2018: R37.5 million) Commitments will be funded from internal sources and to the extent necessary from borrowings. This expenditure primarily relates to hostel upgrades, mining activities and infrastructure.

Contingent liabilities

Contingent liabilities	12 Months Ended
	Dec. 31, 2020
Contingent liabilities
CONTINGENT LIABILITIES	38. C ontingent liabilities Significant accounting judgements and estimates Contingencies can be either possible assets or possible liabilities arising from past events which, by their nature, will only be resolved when one or more future events not wholly within the control of the Group occur or fail to occur or for contingent liabilities where a present obligation arising from a past event exists but is not recognised because either it is not probable that an out-flow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be determined with sufficient reliability. The assessment of such contingencies inherently involves the exercise of significant judgement and estimates of the outcome of future events. Purported Class Action Lawsuits In 2018, two groups of plaintiffs filed purported class action lawsuits, subsequently consolidated into a single action (Class Action), against Sibanye Gold Limited and Neal Froneman (collectively, the Defendants) in the United States District Court for the Eastern District of New York, alleging violations of the US securities laws. Specifically, the Class Action alleged that the Defendants made false and/or misleading statements about its safety practices and record and thereby violated the US securities laws. The Class Action sought an unspecific amount of damages. The Defendants filed a motion to dismiss the Class Action. On 10 November 2020, the Court granted the Defendants’ motion to dismiss in its entirety and ordered that the case be closed. Judgment in favour of the Defendants was entered on 12 November 2020. The Plaintiffs’ time to file a notice of appeal expired on 14 December 2020. Therefore, this action is now terminated. Delaware Supreme Court rules in favour of Sibanye-Stillwater in dissenting shareholder action The Court of Chancery of the State of Delaware in the United States of America (the Court), in a Memorandum Opinion dated 21 August 2019, ruled in favour of Sibanye Gold Limited in the appraisal action brought by a group of minority shareholders (the Dissenting Shareholders) of the Stillwater Mining Company (Stillwater), following the acquisition of Stillwater by Sibanye Gold Limited in May 2017 for a cash consideration of US$18 per Stillwater share. In terms of the ruling, the Dissenting Shareholders (together owning approximately 4.5% of Stillwater shares outstanding at the time) received the same US$18 per share consideration originally offered to, and accepted by other Stillwater shareholders, plus interest. The remaining payment of approximately US$21 million due to the Dissenting Shareholders has been paid by Sibanye-Stillwater during the six months ended 31 December 2019. Certain of the Dissenting Shareholders filed an appeal with the Supreme Court of the State of Delaware and oral arguments were completed on 15 July 2020. On 12 October 2020, the Delaware Supreme Court issued an opinion affirming in whole the trial court’s opinion. On 28 October 2020, the Delaware Supreme Court issued a mandate to the trial court closing the case. Therefore, this action is now terminated. Arbitration case Redpath USA Corporation versus Stillwater Mining Company In 2015, Redpath USA Corporation (the Contractor) was hired by Stillwater to advance the Benbow decline as part of the Blitz project. During November 2019 the Contractor filed a claim wherein the contractor has raised a dispute over additional and rework costs of establishing a decline at the Stillwater Mine after drilling errors caused a water inundation that required significant remediation. The Contractor assumed the additional costs and is now wanting to recover those costs, in an amount of approximately US$20 million, from the Company. After engaging outside counsel and based on the terms of the contract that supports the Company’s position, management believes the Contractor’s claim is without merit and disputes the arbitration demand claim in the legal documents served on the Contractor.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	39. Related-party transactions Sibanye-Stillwater entered into related-party transactions with Rand Refinery, and its subsidiaries during the year as detailed below. The transactions with these related parties are generally conducted with terms comparable to transactions with third parties, however in certain circumstances such as related-party loans, the transactions were not at arm’s length. Refer to note 1.3 for the Group structure which provides further detail on the relationship between parent and subsidiary companies. Rand Refinery Rand Refinery, in which Sibanye-Stillwater holds a 44.4% interest, has an agreement with the Group whereby it refines all the Group’s gold production. No dividends were received during the years ended 31 December 2019 and 2018. For the year ended 31 December 2020, the Group received a dividend of R111.2 million from Rand Refinery, and sold gold and paid refining fees to Rand Refinery. Refer note 18.1 for additional information in respect of the Group’s investment in Rand Refinery. The table below details the transactions and balances between the Group and its related-parties: Figures in million - SA rand Rand Refinery Gold sales 298.0 505.5 616.2 Refining fees paid (31.0) (24.8) (29.1) Trade payable (6.4) (4.5) (3.1) Key management remuneration The disclosure below incorporates remuneration for services rendered to various companies within the Group during the year. The executive directors and prescribed officers were paid the following remuneration during the year: Figures in thousands - SA rand Salary Cash bonus accrued for 2020 paid in 2021 Accrual of share-based payment benefits Pension scheme total contributions Expense allowance and other benefits Executive directors Neal Froneman 1 13,336 13,405 30,292 838 102 57,973 31,917 35,760 Charl Keyter 6,353 6,526 15,067 937 80 28,963 16,024 17,697 Prescribed officers Chris Bateman 2 7,058 3,484 52,404 959 3,054 66,959 25,289 16,885 Shadwick Bessit 3 4,218 4,022 5,749 769 31 14,789 10,595 688 Hartley Dikgale 4 977 712 26,852 65 553 29,159 7,898 8,761 Dawie Mostert 3,870 3,660 8,553 545 27 16,655 9,284 10,112 Themba Nkosi 3,788 3,178 8,005 292 23 15,286 8,117 7,265 Wayne Robinson 4,532 4,483 9,848 381 28 19,272 10,044 10,925 Richard Stewart 4,075 3,669 10,635 467 27 18,873 9,428 12,986 Robert van Niekerk 5,156 5,486 11,700 589 44 22,975 13,547 13,508 Laurent Charbonnier 5 1,315 773 515 11 - 2,614 - - Lerato Legong 6 1,144 945 630 156 - 2,875 - - Total 55,822 50,343 180,250 6,009 3,969 296,393 142,143 134,587 1 Entered into a dual service contract with effect 1 January 2020. Remuneration paid by Stillwater in US dollars was converted at the average exchange rate of R16.46/US$ for the year ended 31 December 2020 2 Remuneration paid in US dollars was converted at the average exchange rate of R16.46/US$ for the year ended 31 December 2020. Ceased performing a prescribed officer role on 6 September 2020 3 Ceased performing a prescribed officer role on 16 January 2021 4 Ceased performing a prescribed officer role on 31 March 2020 5 Assumed a prescribed officer role on 16 November 2020, remuneration paid in GBP was converted at the average exchange rate of R21.10/GBP for the year ended 31 December 2020 6 Assumed a prescribed officer role on 1 September 2020 Total key management personnel compensation recognised under IFRS: Figures in thousands - SA rand Short-term employee benefits 110,134.0 106,605.0 83,635.0 Post-employment benefits 6,008.0 5,300.0 4,546.0 Share-based payment 127,096.6 120,477.7 46,406.0 Total 243,238.6 232,382.7 134,587.0 The non-executive directors were paid the foll owing fees during the year: Figures in thousands - SA rand Directors fees Committee fees Expense allowance Timothy Cumming 1,042 743 124 1,909 1,795 1,698 Savannah Danson 1,042 638 - 1,680 1,609 1,480 Barry Davison 1 - - - - 666 1,649 Harry Kenyon-Slaney 1,199 775 140 2,114 1,699 - Richard Menell 1,679 354 81 2,114 1,831 1,723 Sello Moloko 2 - - - - 1,407 1,802 Nkosemntu Nika 1,042 638 28 1,708 1,609 1,435 Keith Rayner 1,042 822 - 1,864 1,881 1,723 Susan van der Merwe 1,042 638 36 1,716 1,609 1,491 Jerry Vilakazi 1,042 380 - 1,422 1,362 1,289 Vincent Maphai 2,669 - 87 2,756 822 - Elaine Jay Dorward-King 3 906 201 - 1,107 - - Wang Bin 4 255 72 - 327 - - Lu Jiongjie 4 255 72 - 327 - - Total 13,215 5,333 496 19,044 16,290 14,290 1 Resigned as a non-executive director on 28 May 2019 2 Resigned as a non-executive director on 30 September 2019 3 Appointed as a non-executive director 27 March 2020 4 Appointed and resigned as a non-executive director on 24 February 2020 and 27 March 2020, respectively The directors’ and prescribed officers’ share ownership at 31 December 2020 was 1 : Number of shares % Executive directors Neal Froneman 2,10 4,555,954 0.17 0.18 0.20 Charl Keyter 2,10 1,530,119 0.06 0.06 0.07 Non-executive directors Timothy Cumming 2 1,242 242 106 - - - Barry Davison 4 - - 1,567,710 - - 0.07 Richard Menell 2 84,625 108,625 108,625 - - - Sello Moloko 4 - - 111,534 - - - Keith Rayner 2 68,992 68,992 68,992 - - - Susan van der Merwe 2 1,027 1,028 1,028 - - - Vincent Maphai 2 50,000 - - - - - Savannah Danson 2 2,519 - - - - - Harry Kenyon-Slaney 2,5 16,852 - - - - - Elaine Dorward-King 2,6 4,800 - - - - - Total share ownership by directors 7,944,068 Prescribed officers Chris Bateman 7 - 32,747 32,747 - - - Shadwick Bessit 8 94,707 31,652 219,782 - - 0.01 Hartley Dikgale 7 - 184,311 114,744 - 0.01 0.01 Dawie Mostert 3,10 38,975 38,975 50,743 - - - Themba Nkosi 2,10 59,022 796 19,107 - - - Wayne Robinson 2,10 184,333 73,292 39,321 0.01 - - Richard Stewart 2,10 105,303 362,747 421,653 - 0.01 0.02 Robert van Niekerk 3,10 257,732 271,537 - 0.01 0.01 Laurent Charbonnier 2,9 35,620 - - - - - Lerato Legong 2 - - - - - - Total 9,113,702 1 Following the implementation of the Scheme (refer note 26), the Directors’ shareholdings are in Sibanye Stillwater Limited 2 Share ownership in the Company at the date of this report is unchanged (except as described in footnote 10 below) 3 Share ownership in the Company at the date of this report was (except as described in footnote 10 below): · Dawie Mostert – 6,100 shares · Robert van Niekerk – 366 shares 4 Resigned during 2019 5 Harry Kenyon-Slaney holds 4,213 ADRs which convert to 16,852 ordinary shares in the Company 6 Appointed during 2020. Elaine Dorward-King holds 1,200 ADRs at 31 December 2020 which convert to 4,800 ordinary shares in the Company 7 Ceased performing a prescribed officer role during 2020 8 Ceased performing a prescribed officer role during 2021 before the annual financial report was authorised for issue 9 Appointed during 2020. Laurent Charbonnier holds 8,905 ADRs at 31 December 2020 which convert to 35,620 ordinary shares in the Company 10 At the date of this report, the following directors and prescribed officers had shares in escrow following the March 2021 vesting in terms of the equity-settled share-based payment scheme: — Neal Froneman – 2,725,411 shares and 319,165 ADRs — Charl Keyter – 2,037,730 shares — Dawie Mostert – 989,754 shares — Themba Nkosi – 795,975 shares — Wayne Robinson – 915,070 shares and 9,036 ADRs — Richard Stewart – 1,135,892 shares — Robert Van Niekerk – 1,598,602 shares None of the directors’ associates held any direct shareholding in the Company’s issued share capital .

Events after the reporting peri

Events after the reporting period	12 Months Ended
	Dec. 31, 2020
Events after the reporting period
EVENTS AFTER REPORTING DATE	40. Events after reporting date There were no events that could have a material impact on the financial results of the Group after 31 December 2020, other than those disclosed below. Keliber Oy (Keliber) – Battery metals investment On 23 February 2021 Keliber and the Company entered into an investment agreement that enables Keliber to significantly advance its lithium project in Central Ostrobothnia, Finland. The Keliber project consists of several advanced stage lithium spodumene deposits, with significant exploration upside in close proximity to the existing project. Based on a feasibility study completed in 2019 and improved in 2020, Keliber currently has 9.3 million tonnes of ore reserves, sufficient for more than 13 years of operation. Planned annual production is 15,000 tonnes of battery grade lithium hydroxide. The project includes the development of a chemical plant in Kokkola, approximately 50 kilometers from the mining area, which will produce battery grade lithium hydroxide. The Group intends to play a key role as an industrial anchor investor in the forthcoming financing of the construction of Keliber’s lithium project. Production is anticipated to start in 2024 and none of the future lithium hydroxide production has been committed to any offtake party. Under the investment agreement the Group will make an initial phased equity investment of €30 million, for an approximate 30% equity shareholding into Keliber. In the first tranche the Group subscribed for shares in Keliber for €15 million and simultaneously, on the same terms as Sibanye-Stillwater’s €30 million phased investment, a further €10 million equity issuance was offered to the existing Keliber shareholders, which was fully subscribed. The investment agreement allows the Group to finance development work of a further €15 million in two tranches over a twelve-month period. In addition to, and subject to the completion of the initial investment and funding, the Group has a guaranteed option to achieve the majority shareholding in Keliber, should it wish to do so, by contributing further equity financing for the development of the project. The investment in Keliber resulting from the €15 million subscription in the first tranche will be treated as an equity accounted associate. Further subscriptions of tranche two and three will be assessed at the time of subscription to determine whether the Group has at that stage obtained sufficient voting rights and/or potential voting rights to obtain accounting control over Keliber. Phembani Black Economic Empowerment (BEE) transaction During April 2021, the Group restructured the previously highly indebted Lonmin Limited (changed to Sibanye UK Limited on 25 March 2021) broad-based black economic empowerment (B-BBEE) structure in relation to Western Platinum Proprietary Limited (WPL) and Eastern Platinum Limited (collectively referred to as “Marikana”), so as to ensure the sustainability of the B-BBEE shareholding in Marikana and facilitate the realisation of value to the B-BBEE shareholders (Restructuring Transaction). The Restructuring Transaction resulted in the cancellation of the previous preference share funding provided to a special purpose vehicle (Phembani SPV) held by the Phembani Group Proprietary Limited group (Phembani Group). As replacement, the Group subscribed for new preference shares at a nominal amount in the Phembani SPV. These preference shares will earn dividends capped to R2.6 billion and will be funded through 90% of the dividends attributable to the Phembani Group as and when paid by Marikana. The preference shares will be redeemed at the earlier of 12.5 years from the issue date or when the capped dividend amount is reached. The new arrangement provides the Marikana shareholders with access to distributable Marikana dividends in the short and medium term through the introduction of a 10% trickle dividend while any shareholder loans or specified intercompany debt is outstanding. Thereafter, the Marikana shareholders will participate fully in their attributable portion of Marikana’s dividends. However, a 90% portion of the Phembani Group’s attributable dividends will continue to be applied against the preference dividends until the preference shares have been redeemed. As part of the Restructuring Transaction, Incwala Platinum Proprietary Limited is also released from its obligation to repay the historical loans made to it by WPL. The Group is in the process of assessing the accounting impact of this transaction.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Basis of accounting and preparation
Basis of preparation	Basis of preparation The consolidated financial statements for the year ended 31 December 2020 have been prepared on a going concern basis in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, the South African Institute of Chartered Accountants Financial Reporting Guides issued by the Accounting Practices Committee and Financial Reporting Pronouncements issued by the Financial Reporting Standards Council, as well as the requirements of the South African Companies Act and JSE Listings Requirements. The consolidated financial statements have been prepared under the historical cost convention, except for certain financial assets and financial liabilities (including derivative instruments) which are measured at fair value through profit or loss or other comprehensive income. Standards, interpretations and amendments to published standards effective for the year ended 31 December 2020 During the financial year, the following new and revised accounting standards and amendments to standards applicable to the Group, became effective and had no material impact on the Group’s financial statements: Pronouncement Details of amendments Effective date 1 IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (Amendments) The amendments clarify and align the definition of ‘material’ and provide guidance to help improve consistency in the application of that concept whenever it is used in IFRS. 1 January 2020 IFRS 3 Business Combinations (IFRS 3) (Amendment) The IASB issued amendments to the definition of a business in IFRS 3 to help entities determine whether an acquired set of activities and assets is a business or not. 1 January 2020 The revised Conceptual Framework for Financial Reporting The Conceptual Framework is to assist the International Accounting Standards Board (IASB) in developing standards, to help preparers develop consistent accounting policies if there is no applicable standard in place and to assist all parties to understand and interpret the standards. Key changes include: · increasing the prominence of stewardship in the objective of financial reporting; · defining a reporting entity, which may be a legal entity, or a portion of an entity; · revising the definitions of an asset and a liability; · removing the probability threshold for recognition and adding guidance on derecognition; · adding guidance on different measurement basis; and · stating that profit or loss is the primary performance indicator and that, in principle, income and expenses in other comprehensive income should be recycled where this enhances the relevance or faithful representation of the financial statements. No changes will be made to any of the current accounting standards. 1 January 2020 1 Effective date refers to annual period beginning on or after said date Standards, interpretations and amendments to published standards which are not yet effective Certain new standards, amendments and interpretations to existing standards have been published that apply to the accounting periods beginning on or after 1 January 2021 but have not been early adopted by the Group. The standards, amendments and interpretations that are applicable to the Group are: Pronouncement Details of amendments Effective date 1 COVID-19-Related Rent Concessions (Amendment to IFRS 16) 2 In response to the COVID-19 coronavirus pandemic, the IASB has issued amendments to IFRS 16 to allow lessees not to account for rent concessions as lease modifications if they are a direct consequence of COVID-19 and meet certain conditions. Rent concessions included in the ambit of the amendment might take a variety of forms, including payment holidays and deferral of lease payments. In many cases, this will result in accounting for the concessions as variable lease payments in the period in which they are granted. The Group did not receive any material rent concessions as a direct result of COVID-19. 1 June 2020 Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 2 Interbank offered rates (IBOR) reform refers to the global reform of interest rate benchmarks, which includes the replacement of some interbank offered rates with alternative benchmark rates. Under the detailed rules of IFRS 9 Financial Instruments (IFRS 9), modifying a financial contract can require recognition of a significant gain or loss in the income statement. However, the amendments introduce a practical expedient if a change results directly from IBOR reform and occurs on an ‘economically equivalent’ basis. In these cases, changes will be accounted for by updating the effective interest rate. A similar practical expedient will apply under IFRS 16 for lessees when accounting for lease modifications required by IBOR reform. IBOR reform will generally result in a change in the basis for determining the contractual cash flows of that financial asset or financial liability. The Group will assess the impact on the balances and cash flows linked to rates changes arising from IBOR reform when more information is available on the quoted rates that will replace the current IBOR. The potential impact arising from these amendments was not yet known at the reporting date. 1 January 2021 Annual Improvements to IFRS Standards 2018-2020 2 As part of its process to make non-urgent but necessary amendments to IFRS Standards, the IASB has issued the Annual Improvements to IFRS Standards 2018–2020. The amendments applicable to the Group relate to: · IFRS 9 - clarifies which fees should be included in the 10% test for derecognition of financial liabilities; and · IFRS 16 - amendment of illustrative example 13 to remove the illustration of payments from the lessor relating to leasehold improvements, to remove any confusion about the treatment of lease incentives. 1 January 2022 Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) In the process of making an item of property, plant or equipment (PPE) available for its intended use, an entity may produce and sell items. Under the amendments, proceeds from selling items before the related item of PPE is available for use should be recognised in profit or loss, together with the costs of producing those items. IAS 2 Inventories should be applied in identifying and measuring these production costs. The Group is currently in the process of assessing the potential impact of this amendment. 1 January 2022 Onerous Contracts – Cost of Fulfilling a Contract Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets (IAS 37) The amendment to IAS 37 clarifies that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts. Before recognising a separate provision for an onerous contract, the entity recognises any impairment loss that has occurred on assets used in fulfilling the contract. The Group is currently in the process of assessing the potential impact of this amendment. 1 January 2022 Reference to the Conceptual Framework – Amendments to IFRS 3 2 Minor amendments were made to IFRS 3 to update the references to the Conceptual Framework for Financial Reporting and add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 and IFRIC 21 Levies . The amendments also confirm that contingent assets should not be recognised at the acquisition date. 1 January 2022 Classification of Liabilities as Current or Non-current (Amendments to IAS 1) 2 To promote consistency in application and clarify the requirements on determining if a liability is current or non-current, the IASB has amended IAS 1 to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. Classification is unaffected by the expectations of the entity or events after the reporting date (e.g. the receipt of a waiver or a breach of covenant). The amendments also clarify what IAS 1 means when it refers to the “settlement” of a liability. 1 January 2023 1 Effective date refers to annual period beginning on or after said date 2 No material impact expected Significant accounting judgements and estimates The preparation of the financial statements requires the Group’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The determination of estimates requires the exercise of judgement based on various assumptions and other factors such as historical experience, current and expected economic conditions, and in some cases valuation techniques. Actual results could differ from those estimates. For significant accounting policies that are subject to significant judgement, estimates and assumptions, see the following notes to the consolidated financial statements: Significant accounting policy Note to the consolidated financial statements Revenue 3 – Revenue Royalties, mining and income tax, and deferred tax 11 – Royalties, mining and income tax, and deferred tax Property, plant and equipment 14 – Property, plant and equipment Business combinations 16 – Acquisitions Goodwill 17 – Goodwill Equity-accounted investments 18 – Equity-accounted investments Other receivables and other payables 22 – Other receivables and other payables Inventories 23 – Inventories Borrowings and derivative financial instrument 28 – Borrowings and derivative financial instrument Environmental rehabilitation obligation 30 – Environmental rehabilitation obligation and other provisions Occupational healthcare obligation 31 – Occupational healthcare obligation Deferred revenue 32 – Deferred revenue Contingent liabilities 38 – Contingent liabilities Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the financial period are discussed under the relevant note of the item affected.
Consolidation	1.3 Consolidation 1 The non-controlling interests (NCI) in the statement of changes in equity relates to the attributable share of accumulated profits of DRDGOLD, Goldfields Technical Security Management Proprietary Limited (GTSM), Platinum Mile Resources Proprietary Limited (Platinum Mile), Western Platinum Proprietary Limited (WPL) and all WPL subsidiaries, Eastern Platinum Limited (EPL) and Akanani Mining Proprietary Limited (Akanani) (refer note 27) 2 Witwatersrand Consolidated Gold Resources Proprietary Limited (Wits Gold) has ceded and pledged its shares in K2013164354 Proprietary Limited (K2013) (a dormant entity) and K2013 has ceded and pledged it shares in Sibanye Gold Eastern Operations Proprietary Limited (SGEO) in favour of the lenders of the Burnstone Debt (refer note 28.6) 3 Rand Uranium Proprietary Limited (Rand Uranium) and Ezulwini Mining Company Proprietary Limited (Ezulwini) together own a number of underground and surface mining operations. These operations report to the Group’s chief operating decision maker (the Executive Committee) as a separate segment, namely Cooke 4 In terms of the Rustenburg operation transaction, a 26% stake in Sibanye Rustenburg Platinum Mines Proprietary Limited (SRPM) was acquired through Newshelf 1335 Proprietary Limited (BBBEE SPV). The shareholders of BBBEE SPV are Rustenburg Mine Employees Trust (30.4%), Rustenburg Mine Community Development Trust (24.8%), Bakgatla-Ba-Kgafela Investment Holdings (24.8%) and Siyanda Resources Proprietary Limited (20.0%). The Rustenburg Mine Employees Trust and the Rustenburg Mine Community Development Trust are controlled and consolidated by Sibanye-Stillwater 5 The Group has no current or contractual obligation to provide financial support to any of its structured entities 6 Sibanye-Stillwater recognises a 6.87% non-controlling interest in Akanani. The effective “outside” shareholding is calculated by considering the indirect interests held by Rustenburg Eastern Operations Proprietary Limited (6.13%) and the Phembani Group (13.01%) through Incwala Resources Proprietary Limited. However, since the Phembani Group secured its shareholding with a loan payable to Lonmin Limited (previously Lonmin Plc) (Lonmin) which has subsequently been impaired, the accounting beneficial interest of the Phembani Group is considered to be zero 7 Sibanye-Stillwater recognises 4.75% non-controlling interests in WPL and EPL. The shareholding of Lonplats Siyakhula employee profit share trust (3.8%), Marikana Community Trust (0.9%) and Bapo Ba Mogale Community Trust (0.9%) is not considered since these trusts are controlled and consolidated by Sibanye-Stillwater. The Phembani Group (9.01%) and Rustenburg Eastern Operations Proprietary Limited (4.24%) also holds an indirect interest through Incwala Platinum Proprietary Limited. However, since the Phembani Group secured its shareholding with a loan payable to Lonmin Limited which has subsequently been impaired, the accounting beneficial interest of the Phembani Group is considered to be zero 8 Effective 10 January 2020, the Group exercised its option to acquire an additional 12.05% in DRDGOLD. The consideration amounted to R1,085.6 million for the subscription of 168,158,944 additional new ordinary shares resulting in a 50.1% shareholding in DRDGOLD Limited (effective 50.66% after considering treasury shares held by DRDGOLD) (refer note 27). The Group calculated the net asset value of DRDGOLD at the effective date to which the additional ownership percentage was applied to determine the reattribution between non-controlling interest and the Group 9 On 17 June 2020, the Company and SGL entered into an unbundling agreement wherein SGL unbundled its entire shareholding in Sibanye Platinum Proprietary Limited (SPPL) for no value to the Company 10 During the year, the Group reorganised its internal legal structure to house the Marikana PGM related companies (previously owned by LSA UK Limited) under a new intermediate holding company, being Rustenburg Eastern Operations Proprietary Limited, which is a wholly owned subsidiary of SPPL. The reorganisation had no impact to the consolidated financial statements of the Group 11 At 31 December 2020, the Group had a 100% legal interest in Peregrine Metals Limited (Peregrine), which is subject to an Initial Earn-in arrangement of 60% by Aldebaran Resources Inc. (Aldebaran) (refer note 18.3) 12 The Group has a 76% legal interest in the Newshelf 1114 Propietary Limited (Newshelf 1114) group and the NCI can acquire a further 2% legal shareholding once they have implemented the necessary funding structure. However, no accounting NCI is recognised, since the NCI’s vendor loan financing exceeds their proportionate interest in Newshelf 1114 and therefore no effective shareholding exists Subsidiaries Subsidiaries are all entities over which the Group exercises control. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is obtained by the Group until the date on which control ceases. Control is reassessed if facts and circumstances indicate that there are changes to one or more of the elements of control. Inter-company transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Transactions with shareholders Transactions with owners in the capacity as equity participants are not recognised in profit or loss, but instead are recognised in equity with a corresponding change in assets or liabilities. Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary are equity transactions.
Functional and presentation currency	Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in South African rand, which is the Group’s presentation currency.
Transactions and balances and foreign operations	Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities are translated into the functional currency at each reporting date . Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies, are recognised in profit or loss. Foreign operations The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows:  Assets and liabilities are translated at the exchange rate ruling at the reporting date. Equity items are translated at historical rates. The income and expenses are translated at the average exchange rate for the year, unless this average was not a reasonable approximation of the rates prevailing on the transaction dates, in which case these items were translated at the rate prevailing on the date of the transaction. Exchange differences on translation are accounted for in other comprehensive income. These differences will be recognised in profit or loss upon realisation of the underlying operation.  Exchange differences arising from the translation of the net investment in foreign operations, which includes certain long-term borrowings (i.e. the reporting entity’s interest in the net assets of that operation), are taken to other comprehensive income. When a foreign operation is sold, exchange differences that were recorded in other comprehensive income are recognised in profit or loss as part of the gain or loss on disposal. If the Group disposes of part of its interest in a subsidiary but retains control, then the relevant proportion of the cumulative amount is reattributed to non-controlling interests. When the Group disposes of only part of an associate or joint venture while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. If a company in the Group repays a portion of long-term borrowings forming part of a net investment in foreign operations, amounts previously recorded in other comprehensive income are only recognised in profit or loss upon disposal of the relevant operation.  Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and are translated at each reporting date at the closing rate.
Comparatives	1.5 Comparatives Where necessary, comparative periods have been revised to conform to current period changes in presentation. These revisions include:  Retrospective change to the segment reporting to align the classification of finance cost on the Wheaton Stream and corporate transaction costs in line with management’s reporting to the chief operating decision maker (refer note 2)  Disaggregation relating to the adjustments relating to sales of PGM concentrate and a change in the information provided on the graphical presentation of the revenue (refer note 3)  Disaggregation of the redeemable preference shares below 44.4% interest to separately disclose the portion specific to DRDGOLD consolidation adjustments within other reconciling items (refer note 18.1)  Disaggregation of the attributable income and royalty tax for Mimosa (refer note 18.2) Additional disclosures were made for the 2020 and comparative periods not previously presented. These revisions include:  Adjustments to Consolidated Statement of Changes in Equity and related notes due to the accounting for the scheme of arrangement (refer note 1.1 and note 26)  Disclosures relating to interest income (refer note 5.1), other costs (refer note 8.1) and other income (refer note 8.2)  Disclosure relating to the aggregate amount of temporary differences associated with investments in subsidiaries, for which no deferred tax liabilities have been recognised (refer note 11.3)  Disclosures relating to the effective holding interest in DRDGOLD (refer note 27)  Disclosure relating to total key management personnel compensation recognised under IFRS (refer note 39)
Segment reporting	Accounting policy Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker and is based on individual mining operations. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the executive management team that makes strategic decisions.
Revenue	Accounting policy Revenue from mining activities Revenue from gold sales is measured and recognised based on the consideration specified in a contract with a customer. The Group recognises revenue from gold sales when the customer obtains control of the gold. These criteria are typically met when the gold is credited to the customer’s bullion account by Rand Refinery Proprietary Limited (Rand Refinery). The transaction price is determined based on the agreed upon market price and number of ounces delivered. Revenue from PGM concentrate and metal sales is recognised when the buyer, pursuant to a sales contract, obtains control of the mined product which is typically upon delivery. The sales price is determined on a provisional basis at the date of delivery. Adjustments to the selling price occur based on changes in the metal content quantities and penalties, which represents variable transaction price components, as well as changes in the metal market price up to the date of final pricing. Final pricing is based on the monthly average market price in the month of settlement. For PGM metal sales, pricing is finalised within the month of sale. For PGM concentrate sales, the period between provisional invoicing and final pricing is typically between one and four months. Revenue on provisionally priced sales is initially recognised at the amount of consideration that the Group expects to be entitled to. The revenue adjustment mechanism relating to changes in metal market prices, embedded within provisionally priced PGM concentrate sale arrangements, has the characteristics of a commodity derivative. Accordingly, the fair value of the final sales price adjustment is re-estimated continuously and changes in fair value are recognised as an adjustment to revenue in profit or loss and trade receivables in the statement of financial position. In all cases, fair value is determined with reference to estimated forward prices using consensus forecasts. Revenue arising from these price adjustments is disclosed separately from revenue from contracts with customers. Revenue from PGM recycling consists of the sales of recycled palladium, platinum and rhodium derived from spent catalytic material and is recognised when control is transferred, which is when metal is transferred from the Group’s metal account to the 3rd party’s metal account. Revenue from PGM recycling also includes revenue from toll processing, which is recognised at the time the returnable metals are returned to the supplier at a third party refinery. Wheaton streaming revenue In 2018, Wheaton Precious Metals International Limited (Wheaton International) and the Group entered into a streaming transaction. 100% of refined mined gold and 4.5% of refined mined palladium from the Stillwater Mining Company (Stillwater) operations will be delivered to Wheaton International over the life of mine of the US PGM operations. Each ounce is identified as a separate performance obligation. In exchange for this, Wheaton International paid the Group R6,555.4 million (US$500.0 million) on 25 July 2018. In addition to the advance payment, Wheaton International currently pays the Group 18% cash based on the value of gold and palladium deliveries each month (refer to note 32 for additional detail on the monthly cash percentage). The contract will be settled by the Group delivering metal credits to Wheaton International representing underlying refined, mined gold and palladium. The transaction price, being the advance payment and the cash payment to be received, is recognised as revenue each month when the metal credit is allocated to the appropriate Wheaton International account. It is from this date that Wheaton International has effectively accepted the metal, has physical control of the metal and has the risk and reward of the metal (i.e. control has transferred). Revenue will be recognised over the life of mine of the US PGM operations in line with the timing of control transfer discussed above. To the extent that the life of mine changes or other key inputs are changed (refer note 32), these changes are recognised prospectively as a cumulative catch-up in revenue in the year that the change occurs. BTT streaming revenue Lonmin entered into a metal streaming transaction in 2016 to deliver between 23% - 38% of 6E PGM from its BTT project based on a weighted 6E PGM basket price. Lonmin received $50 million upfront, which was recognised as deferred revenue. Lonmin received between $106 and $280 per ounce of 6E PGM metals based on basket price of 6E PGM for each ounce delivered. The performance obligations under the contract were to be satisfied through delivery of the 6E PGM metals ounces. At acquisition of Lonmin (2019), the Group accounted for the deferred revenue at fair value of R627.6 million under IFRS 3, including a significant financing component. The transaction price under IFRS 15 Revenue from Contracts with Customers (IFRS 15), being the advance payment and further cash payments received, were recognised as revenue when the metal ounces were delivered and Lonmin no longer had physical control of the metal, which is also when the risk and rewards were transferred (i.e. control has transferred). Revenue was recognised over the life of the bulk tailing re-treatment project operations based on the ounces delivered. To the extent that the life of project changed or other key inputs changed (refer note 32), these changes were recognised prospectively as a cumulative catch-up in revenue in the year that the change occurred. The BTT project was early cash-settled by the Group during March 2020 (refer note 32). Other forward sale and prepayment transactions The Group also enters into other forward sale or prepayment transactions with counterparties in which a cash payment is received in advance for future delivery of gold and PGM ounces to the relevant counterparty. Each ounce is identified as a separate performance obligation. The transaction price under IFRS 15, being the advance payment and further cash payments received, is recognised as revenue when the metal ounces are delivered or credited to the customer’s account and Sibanye-Stillwater no longer has physical control of the metal, which is also when the risk and rewards are transferred (i.e. control has transferred).
Short-term employee benefits	Short-term employee benefits Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be reliably estimated.
Pension and provident funds	Pension and provident funds The Group operates a defined contribution retirement plan and contributes to a number of industry-based defined contribution retirement plans. The retirement plans are funded by payments from employees and Group companies. Contributions to defined contribution funds are expensed as incurred.
Interest income and Finance expense	5. Interest income and finance expenses Accounting policy Interest income comprises interest income on cash deposits, rehabilitation obligation funds and the right of recovery asset. Interest income is recognised using the effective interest method. Finance expense comprises interest on borrowings, lease liabilities, environmental rehabilitation obligation, occupational healthcare obligation, deferred payment, dissenting shareholder liability and deferred revenue and is offset by borrowing costs capitalised on qualifying assets where applicable. Interest payable on borrowings is recognised in profit or loss over the term of the borrowings using the effective interest method. Cash flows from interest paid are classified under operating activities in the statement of cash flows.
Share-based payments	Accounting policy Equity-settled share-based payments The Group operates equity-settled compensation plans in which certain employees of the Group participate. The fair value of the equity-settled instruments is measured by reference to the fair value of the relevant equity instruments granted, taking into account the terms and conditions upon which those equity-settled instruments were granted. Fair value of equity-settled instruments granted is estimated using appropriate valuation models and appropriate assumptions at the grant date. Service and non-market performance conditions are not taken into account when estimating the fair value of the equity-settled instruments at grant date. Market conditions are taken into account in determining the fair value at grant date. The grant date fair value of the equity-settled instruments is recognised as share-based payment expenses over the vesting period based on the Group’s estimate of the number of instruments that will eventually vest, with a corresponding increase in the share-based payment reserve. Vesting assumptions for service and non-market performance conditions are reviewed at each reporting date to ensure they reflect current expectations. Cash-settled share-based payments The Group also operates cash-settled compensation plans in which certain employees of the Group participate. These awards entitle the participants to cash payments based on a relevant share price. The fair value of the cash-settled instruments is measured by reference to the fair value of the underlying shares using appropriate valuation models and assumptions, taking into account the terms and conditions upon which the instruments were granted. The grant date fair value of the cash-settled instruments is recognised as share-based payment expenses over the vesting period based on the Group’s estimate of the number of instruments that will eventually vest, with a corresponding increase in the share-based payment obligation. At each reporting date, the obligation is remeasured to the fair value of the instruments, to reflect the potential outflow of cash resources to settle the liability, with a corresponding adjustment to the share-based payment expense. Vesting assumptions for service and non-market performance conditions are reviewed at each reporting date to ensure they reflect current expectations. The Group also issued cash-settled instruments to black economic empowerment (BEE) shareholders in terms of the Rustenburg operation acquisition. The fair value of these instruments are determined using appropriate valuation models and assumptions, taking into account the terms and conditions upon which the instruments were granted. At each reporting date, the obligation is remeasured to the fair value of the instruments, to reflect the potential outflow of cash resources to settle the liability. There are no vesting conditions and fair value changes are recognised as part of gains or losses on financial instruments in profit or loss. Modifications to share-based payment schemes Where the terms of an equity-settled or a cash-settled award are modified, the originally determined expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any modification, which increases the total fair value of the share-based payment arrangement, or is otherwise beneficial to the participant as measured at the date of the modification.
Income taxes	Accounting policy Income tax comprises current and deferred tax. Current tax and deferred tax is recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. Current tax is measured on taxable income at the applicable statutory rate enacted or substantively enacted at the reporting date and is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. Deferred tax is provided on temporary differences existing at each reporting date between the tax values of assets and liabilities and their carrying amounts and reflects uncertainty related to income taxes, if any. Enacted and substantively enacted tax rates are used to determine future anticipated effective tax rates which in turn are used in the determination of deferred tax. These temporary differences are expected to result in taxable or deductible amounts in determining taxable profits for future periods when the carrying amount of the asset is recovered or the liability is settled. The principal temporary differences arise from depreciation of property, plant and equipment, provisions, unutilised capital allowances and tax losses carried forward. Deferred tax is not recognised for:  temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss;  temporary differences related to investments in subsidiaries, and interests in associates and joint ventures to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that these will not reverse in the foreseeable future; and  taxable temporary differences arising on the initial recognition of goodwill. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously. Deferred tax assets relating to the carry forward of unutilised tax losses and/or unutilised capital allowances are recognised to the extent it is probable that future taxable profit will be available against which the unutilised tax losses and/or unutilised capital allowances can be recovered. Deferred tax assets are reviewed at each reporting date and are adjusted if recovery is no longer probable. Unrecognised deferred tax assets are reassessed at each reporting date and recognised to the extent that it has become probable that future taxable profits will be available against which they can be utilised.
Earnings per share	Accounting policy Headline earnings is presented as an additional earnings number allowed by IAS 33 Earnings per Share (IAS 33) and is calculated based on the requirements set out in SAICA Circular 1/2019 (Circular). Earnings, as determined in IAS 33, is the starting point and certain remeasurements net of related tax (current and deferred) and non-controlling interest are excluded. A remeasurement is an amount recognised in profit or loss relating to any change (whether realised or unrealised) in the carrying amount of an asset or liability that arose after the initial recognition of such asset or liability.
Dividends	Accounting policy Dividends are recognised as a liability on the date on which such dividends are declared. Dividends withholding tax is a tax on shareholders receiving dividends and is applicable to all dividends paid which are subject to dividend withholding tax based on the relevant tax requirements. The Group withholds dividend tax on behalf of its shareholders at a rate of 20% on dividends paid. Amounts withheld are not recognised as part of the Group’s tax charge but rather as part of the dividend paid, recognised in equity. Cash flows from dividends paid are classified under operating activities in the statement of cash flows.
Property, plant and equipment	Accounting policy Mineral and surface rights Mineral and surface rights are recorded at cost less accumulated amortisation and accumulated impairment losses. When there is little likelihood of a mineral right being exploited, or the carrying amount has exceeded its recoverable amount, impairment is recognised in profit or loss in the year that such determination is made. Mine development and infrastructure Mining assets, including mine development and infrastructure costs and mine plant facilities, are recorded at cost less accumulated depreciation and accumulated impairment losses. Costs include the purchase price of assets used in the construction of the mine, expenditure incurred to evaluate and develop new ore bodies, as well as expenditure to define mineralisation in existing ore bodies and to establish or expand productive capacity. These costs are capitalised until commercial levels of production are achieved, at which times the costs are amortised as set out below. Development of ore bodies includes the development of shaft systems and waste rock removal that allows access to reserves that are economically recoverable in the future. Subsequent to this, costs are capitalised if the criteria for recognition as an asset are met. Access to individual ore bodies exploited by the Group is limited to the time span of the respective mining leases. Land Land is shown at cost and is not depreciated. Other assets Non-mining assets are recorded at cost less accumulated depreciation and accumulated impairment losses, except for land which is not depreciated. These assets include the assets of the mining operations that are not included in mine development and infrastructure. It also includes borrowing costs, mineral and surface rights, land and all the assets of the non-mining operations. Amortisation and depreciation of mining assets Amortisation and depreciation is determined to give a fair and systematic charge in profit or loss taking into account the nature of a particular ore body and the method of mining that ore body. To achieve this, the following calculation methods are used:  Mining assets, including mine development and infrastructure costs, mine plant facilities and evaluation costs, are amortised over the life of the mine using the units-of-production method, based on estimated proved and probable Mineral Reserves.  Proved and probable Mineral Reserves reflect estimated quantities of economically recoverable reserves, which can be recovered in future from known mineral deposits.  Certain mining plant and equipment included in mine development and infrastructure is depreciated on a straight-line basis over their estimated useful lives.  For certain shafts, which have a short life and/or are marginal, the depreciation is accelerated based on an adjustment to the reserves for accounting purposes. Depreciation of non-mining assets Non-mining assets are recorded at cost and depreciated on a straight-line basis over their current expected useful lives to their residual values as follows:  Vehicles: 5 years  Computers: 3 years  Furniture and equipment: 1 - 10 years The assets’ useful lives, depreciation methods and residual values are reassessed at each reporting date and adjusted if appropriate. Impairment Recoverability of the carrying values of long-term assets or CGUs of the Group are reviewed whenever events or changes in circumstances indicate that such carrying value may not be recoverable. To determine whether a long-term asset or CGU may be impaired, the higher of value in use (defined as: the present value of future cash flows expected to be derived from an asset or CGU) or fair value less costs to sell (defined as: the price that would be received to sell an asset in an orderly transaction between market participants at the measured rate, less the costs of disposal) is compared to the carrying value of the CGU. A CGU is defined by the Group as the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Generally for the Group this represents an individual operating mine, including mines which are part of a larger mine complex. The costs attributable to individual shafts of a mine are impaired if the shaft is closed. Impairment losses are recognised in profit or loss. Impairment recognised in respect of a CGU is allocated first to goodwill to that particular CGU and thereafter to the individual assets in the CGU. When any infrastructure is closed down or placed on care and maintenance during the year, any carrying value attributable to that infrastructure is impaired. Expenditure incurred on care and maintenance is recognised in profit or loss. When the review of the events or changes in circumstances of an asset or CGU that was previously impaired indicate that such historical carrying value is recoverable, the impairment is reversed. The impairment is only reversed to such an amount that the new carrying amount does not exceed what the historical carrying amount would have been should the asset not have been impaired. Reversal of impairment losses are recognised in profit or loss. Reversal of impairment recognised in respect of a CGU is allocated to the individual assets in the CGU. Derecognition of property, plant and equipment Property, plant and equipment is derecognised on disposal or closure of a shaft when no future economic benefits are expected from its use or disposal. Any gain or loss on derecognition of an item of property, plant and equipment (calculated as the net proceeds from disposal and the carrying amount of the item) is recognised in profit or loss. Exploration and evaluation expenditure All exploration and evaluation expenditure, prior to obtaining the legal rights to explore a specific area, is recognised in profit or loss. After the legal rights to explore are obtained, exploration and evaluation expenditure, comprising the costs of acquiring prospecting rights and directly attributable exploration expenditure, is capitalised as a separate class of property, plant and equipment or intangible assets, on a project-by-project basis, pending determination of the technical feasibility and commercial viability. The technical feasibility and commercial viability of extracting a mineral resource is generally considered to be determinable through a feasibility study and when proven reserves are determinable to exist. Upon determination of proven reserves, exploration and evaluation assets attributable to those reserves are first tested for impairment and then reclassified from exploration and evaluation assets to another appropriate class of property, plant and equipment. Subsequently, all cost directly incurred to prepare an identified mineral asset for production is capitalised to mine development assets. Amortisation of these assets commences once these assets are available for use, which is expected to be when the mine is in commercial production. These assets will be measured at cost less accumulated amortisation and impairment losses.
Right of use assets	Accounting policy Right-of-use assets comprise mining equipment, vehicles and office rentals (included in the mine development, infrastructure ) of which none meet the definition of investment property. These right-of-use assets comprise the initial measurement of the corresponding lease liability, any initial direct costs incurred by the lessee, and an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset. Right-of-use assets are subsequently measured at cost less accumulated depreciation and impairment losses if applicable. The assets are depreciated over the shorter period of the lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset, or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the related right-of use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease.
Business combinations	Accounting policy Business combinations The acquisition method of accounting is used to account for business combinations by the Group. The consideration transferred for the acquisition of a business is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Any contingent consideration is measured at fair value at the date of acquisition. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets. Subsequently, the carrying amount of non-controlling interest is the amount of the interest at initial recognition plus the non-controlling interest’s share of the subsequent changes in equity, plus or minus changes in the portion of interest of the equity of the subsidiary not attributable, directly or indirectly, to Sibanye-Stillwater shareholders. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is a gain recognised directly in profit or loss. Statement of cash flows The acquisition date fair value of deferred payments and contingent consideration relating to business combinations is part of the aggregate consideration for obtaining control of the underlying net assets. Therefore, unless the obligations are clearly part of the borrowing structure of the group, repayments of the acquisition date fair value are classified as investing activities. Additional deferred/ contingent payments in excess of the grant date fair value are considered to be operating activity cash flows by nature.
Goodwill	Accounting policy Goodwill is stated at cost less accumulated impairment losses. In accordance with the provisions of IAS 36 Impairment of Assets , the Group performs its annual impairment review of goodwill at each financial year end or whenever there are impairment indicators to establish whether there is any indication of impairment to goodwill. Goodwill is allocated to CGUs for the purpose of impairment testing. The allocation is made to those CGUs or groups of CGUs that are expected to benefit from the business combination in which the goodwill arose. An impairment is made if the carrying amount exceeds the recoverable amount. The recoverable amount is determined as the higher of “value in use” and “fair value less cost to sell”, based on the cash flows over the life of the CGUs and discounted to present value at an appropriate discount rate. Impairment losses on goodwill are not reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill allocated to the entity sold.
Equity-accounted investments	Accounting policy The Group’s interest in equity-accounted investees comprise interests in associates and joint ventures. Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies. Joint ventures are arrangements in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Interests in associates and joint ventures are accounted for using the equity method. The interests are initially recognised at cost using the same principles as with business combinations. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of profit or loss and other comprehensive income of equity-accounted investees until the date on which significant influence or joint control ceases. Results of associates and joint ventures are equity-accounted using the results of their most recent audited annual financial statements or unaudited management accounts. Any losses from associates are brought to account in the consolidated financial statements until the interest in such associates is written down to zero. The interest includes any long-term interests that in substance, form part of the entity’s net investment in the equity-accounted investee, for example long-term receivables for which settlement is neither planned nor likely to occur in the foreseeable future. Thereafter, losses are accounted for only insofar as the Group is committed to providing financial support to such associates. The carrying value of an equity-accounted investment represents the cost of the investment, including goodwill, the proportionate share of the post-acquisition retained earnings and losses, any other movements in reserves, any impairment losses and loans to or from the equity-accounted investee. The carrying value together with any long-term interests that in substance form part of the net investment in the equity-accounted investee is assessed annually for existence of indicators of impairment and if such exist, the carrying amount is compared to the recoverable amount, being the higher of value in use or fair value less costs to sell. If an impairment in value has occurred, it is recognised in the period in which the impairment arose. Indicators of impairment include a significant or prolonged decline in the investments fair value below its carrying value.
Interests in joint operations	Accounting policy A joint operation is a joint arrangement in which the parties that share joint control have rights to the assets, and obligations for the liabilities, relating to the arrangement. In relation to the Group’s interests in joint operations, the following are recognised in the financial statements:  the Group’s share of the jointly controlled assets, classified according to the nature of the assets;  any liabilities that the Group has incurred;  the Group’s share of any liabilities incurred jointly with the other ventures in relation to the joint operation;  any income from the sale or use of the Group’s share of the output of the joint operation, together with the Group’s share of any expenses incurred by the joint operation; and  any expenses that the Group has incurred in respect of its interest in the joint operation.
Other investments	Accounting policy On initial recognition of an equity investment that is not held for trading, the Group may make an irrevocable election to present subsequent changes in the investment’s fair value in other comprehensive income. This election is made on an investment-by-investment basis. These investments are subsequently measured at fair value, with dividends recognised in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognised in other comprehensive income (OCI) and are never reclassified to profit or loss.
Environmental rehabilitation obligation funds	Accounting policy The Group’s rehabilitation obligation funds includes equity-linked investments that are fair valued at each reporting date. The fair value is calculated with reference to underlying equity instruments using industry valuation techniques and appropriate models. Annual contributions are made to dedicated environmental rehabilitation obligation funds to fund the estimated cost of rehabilitation during and at the end of the life of the relevant mine. The amounts contributed to these funds are included under non-current assets and are measured at fair value through profit or loss. Interest earned on monies paid to rehabilitation funds is accrued on a time proportion basis and is recorded as interest income. In addition, bank guarantees are provided for funding shortfalls of the environmental rehabilitation obligations.
Other receivables and other payables	Accounting policy Financial instruments included in other receivables are categorised as financial assets measured at amortised cost and those included in other payables are categorised as other financial liabilities as applicable. These assets and liabilities are initially recognised at fair value. Subsequent to initial recognition, financial instruments included in other receivables and other payables are measured at amortised cost. Reimbursements, such as rehabilitation reimbursements from other parties are not financial instruments, and are recognised as a separate asset where recovery is virtually certain. The amount recognised is limited to the amount of the relevant rehabilitation provision. If the party that will make the reimbursement cannot be identified, then the reimbursement is generally not virtually certain and cannot be recognised. If the only uncertainty regarding the recovery relates to the amount of the recovery, the reimbursement amount often qualifies to be recognised as an asset. Other receivables and payables that do not arise from contractual rights and obligations, such as receivables on rates and taxes, are recognised and measured at the amount expected to be received or paid.
Inventories	Accounting policy Inventory is valued at the lower of cost and net realisable value. The Group values ore stockpiles and metal-in-process when it can be reliably measured. Cost is determined on the following basis:  Gold reef ore stockpiles and gold-in-process are valued using weighted average cost. Cost includes production, amortisation, depreciation and related administration costs  PGM inventory is valued using weighted average cost by allocating cost, based on the joint cost of production, apportioned according to the relative sales value of each of the PGMs produced. The group recognises the metal produced in each development phase in inventory with an appropriate proportion of cost. Cost includes production, amortisation, depreciation and related administration costs  By-product metals are valued at the incremental cost of production from the point of split-off from the PGM processing stream  Consumable stores are valued at weighted average cost after appropriate provision for surplus and slow-moving items
Trade and other receivables	Accounting policy Trade and other receivables, excluding trade receivables for PGM concentrate sales, prepayments and value added tax, are non-derivative financial assets categorised as financial assets measured at amortised cost. The above non-derivative financial assets are initially recognised at fair value and subsequently carried at amortised cost less allowance for impairment . Estimates made for impairment are based on a review of all outstanding amounts at year end in line with the impairment policy described in note 36 . Irrecoverable amounts are written off during the period in which they are identified. In addition to other types of PGM sales, trade receivables include actual invoiced sales of PGM concentrate, as well as sales not yet invoiced for which deliveries have been made and the control has transferred. The PGM concentrate receivables are financial assets measured at fair value through profit or loss, as the solely payments of principle and interest criteria is not met. The receivable amount calculated for the PGM concentrate delivered but not yet invoiced is recorded at the fair value of the consideration receivable at the date of delivery. At each subsequent reporting date the receivable is restated to reflect the fair value movements in the pricing mechanism which are recognised in revenue. Foreign exchange movements subsequent to the recognition of a sale are recognised as a foreign exchange gain or loss in profit or loss.
Cash and cash equivalents	Accounting policy Cash and cash equivalents comprise cash on hand, demand deposits and short-term, highly liquid investments readily convertible to known amounts of cash and subject to insignificant risk of changes in value, and are measured at amortised cost which is deemed to be fair value due to its short-term maturity.
Stated share capital	Accounting policy Ordinary share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects.
Non-controlling interests	Accounting policy Non-controlling interests The Group recognises any non-controlling interest in an acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets on an acquisition by acquisition basis. Subsequently, the carrying amount of non-controlling interest is the amount of the interest at initial recognition plus the non-controlling interest’s subsequent share of changes in equity. Transactions with non-controlling interests The Group treats transactions with non-controlling interests as transactions with equity owners of the Group. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests where control is not lost are also recorded in equity. Where control is lost over a subsidiary, the gains or losses are recognised in profit or loss.
Borrowings	Accounting policy Borrowings Borrowings are non-derivative financial liabilities categorised as other financial liabilities. Borrowings are recognised initially at fair value, net of transaction costs incurred, where applicable and subsequently measured at amortised cost using the effective interest method. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. Derivative financial instruments Derivatives are initially recognised at fair value using option pricing methodologies. Any directly attributable transaction costs are recognised in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes are recognised in profit or loss. For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the fair value hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
Lease liabilities	Accounting policy At the inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Lease liabilities are initially measured at the present value of the future lease payments at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the relevant incremental borrowing rate. Subsequently, lease liabilities are measured at amortised cost using the effective interest method. Lease liabilities are remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, or if the Group changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Group also elected to apply the recognition exemptions for lease contracts that, at the commencement date, have a lease term of 12 months or less and do not contain a purchase option, and lease contracts for which the underlying asset is of low value. The Group recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term to the extent applicable. In addition, certain variable lease payments are not permitted to be recognised as lease liabilities and are expensed as incurred.
Environmental rehabilitation obligation	Accounting policy Provisions are recognised when the Group has a present obligation, legal or constructive, resulting from past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Long-term environmental obligations are based on the Group’s environmental management plans, in compliance with applicable environmental and regulatory requirements. The estimated costs of rehabilitation are reviewed annually and adjusted as appropriate for changes in legislation, technology or other circumstances. Cost estimates are not reduced by the potential proceeds from the sale of assets or from plant clean up at closure. Based on disturbances to date, the net present value of expected rehabilitation cost estimates is recognised and provided for in full in the financial statements. The estimates are reviewed annually and are discounted using a risk-free rate that is adjusted to reflect the current market assessments of the time value of money. Annual changes in the provision consist of finance costs relating to the change in the present value of the provision and inflationary increases in the provision estimate, as well as changes in estimates. Changes in estimates are capitalised or reversed against the relevant asset or liability to the extent that it meets the definition of dismantling and removing the item and restoring the site on which it is located. Costs that relate to an existing condition caused by past operations and do not have a future economic benefit are recognised in profit or loss. If a decrease in the liability exceeds the carrying amount of the asset, the excess is recognised immediately in profit or loss. The present value of environmental disturbances created are capitalised to mining assets against an increase in the environmental rehabilitation obligation. Rehabilitation projects undertaken, included in the estimates are charged to the provision as incurred. The cost of ongoing current programmes to prevent and control environmental disturbances is recognised in profit or loss as incurred. The unwinding of the discount due to the passage of time is recognised as finance cost, and the capitalised cost is amortised over the remaining lives of the mines.
Occupational healthcare obligation	Accounting policy Provisions are recognised when the Group has a present obligation, legal or constructive resulting from past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The estimated costs of settlement claims are reviewed at least annually and adjusted as appropriate for changes in cash flow predictions or other circumstances. Based on estimates to date, the net present value of expected settlement claims is recognised and provided for in full in the financial statements. The estimated cash flows are discounted using a risk-free rate with similar terms to the obligation to reflect the current market assessments of the time value of money. Annual changes in the provision consist of finance costs relating to the change in the present value of the provision and changes in estimates.
Deferred revenue	Accounting policy Consideration received in advance is recognised as a contract liability (deferred revenue) under IFRS 15 as control has not yet transferred. Where a significant financing component is identified as a result of the difference in the timing of advance consideration received and when control of the metal promised transfers, interest expenses on the deferred revenue balance is recognised in finance costs. Where a contract has a period of a year or less between receiving advance consideration and when control of the metal promised transfers, the group may elect on a contract-by-contract basis to apply the IFRS 15 practical expedient not to adjust for the effects of a significant financing component.
Trade and other payables	Accounting policy Trade and other payables, excluding payroll creditors and leave pay accruals are non-derivative financial liabilities categorised as other financial liabilities. Trade and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Provision is made for employee entitlement benefits accumulated as a result of employees rendering services up to the reporting date. Liabilities arising in respect of wages and salaries, annual leave and other benefits due to be settled within 12 months of the reporting date are measured at rates which are expected to be paid when the liability is settled. Termination benefits are expensed and an accrual raised at the earlier of when the Group can no longer withdraw the offer of those benefits and when the Group recognises costs for a restructuring. If benefits are not expected to be settled wholly within 12 months of the reporting date, they are discounted. All other employee entitlement liabilities are measured at the present value of estimated payments to be made in respect of services rendered up to reporting date.
Financial instruments and risk management	Accounting policy On initial recognition, a financial asset is classified as measured at either amortised cost, fair value through other comprehensive income, or fair value through profit or loss. The Group initially recognises debt instruments issued and trade and other receivables, on the date these are originated. All other financial assets and financial liabilities are recognised initially when the Group becomes a party to the contractual provisions of the instrument. The classification of financial assets at initial recognition that are debt instruments depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. In order for a financial asset to be classified and measured at amortised cost, it needs to give rise to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. This assessment is performed at an instrument level. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model. The Group’s business model for managing financial assets that are debt instruments refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortised cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows. The Group recognises an allowance for expected credit losses (ECLs) on all debt instruments not held at fair value through profit or loss to the extent applicable. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade and other receivables due in less than 12 months, the Group applies the simplified approach in calculating ECLs, as permitted by IFRS 9. Therefore, the Group does not track changes in credit risk, but instead, recognises a loss allowance based on the financial asset’s lifetime ECL at each reporting date. Impairment losses are recognised through profit or loss. The Group derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all the risks and rewards of the ownership of the financial asset are transferred. The Group derecognises a financial liability when its contractual obligations are discharged, cancelled or expired. Any interest in such transferred financial asset that is created or retained by the Group is recognised as a separate asset or liability. The particular recognition and measurement methods adopted are disclosed in the individual policy statements associated with each item. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid is recognised in profit or loss.

Segment reporting (Tables)

Segment reporting (Tables)	12 Months Ended
	Dec. 31, 2020
Segment reporting
Schedule of segment reporting	Figures in million - SA rand Group Total SA Total Rusten- Marikana Kroondal Platinum Mimosa Corporate 1 Total Drie-fontein Kloof Beatrix Cooke DRD-GOLD Corporate 1 Group 1 2020 Revenue 127,392.4 45,154.1 82,781.4 54,912.6 20,428.7 26,864.8 7,972.8 950.3 3,894.5 (5,198.5) 27,868.8 6,793.5 9,795.0 4,663.8 1,039.6 5,051.0 525.9 (543.1) Underground 91,369.9 19,857.6 72,055.4 52,142.3 18,521.1 26,864.8 7,972.8 - 3,894.5 (5,110.9) 19,913.1 6,793.5 8,109.4 4,499.8 - - 510.4 (543.1) Surface 10,726.0 - 10,726.0 2,770.3 1,907.6 - - 950.3 - (87.6) 7,955.7 - 1,685.6 164.0 1,039.6 5,051.0 15.5 - Recycling 25,296.5 25,296.5 - - - - - - - - - - - - - - - - Cost of sales, before amortisation and depreciation (75,776.4) (32,003.4) (43,773.0) (24,722.6) (9,588.7) (13,232.0) (2,803.3) (402.6) (1,601.1) 2,905.1 (19,050.4) (4,863.6) (6,879.6) (3,713.8) (671.0) (2,922.4) - - Underground (45,502.4) (7,585.9) (37,916.5) (23,551.2) (8,732.3) (13,232.0) (2,803.3) - (1,601.1) 2,817.5 (14,365.3) (4,863.6) (5,885.6) (3,616.3) 0.2 - - - Surface (5,856.5) - (5,856.5) (1,171.4) (856.4) - - (402.6) - 87.6 (4,685.1) - (994.0) (97.5) (671.2) (2,922.4) - - Recycling (24,417.5) (24,417.5) - - - - - - - - - - - - - - - - Net other cash costs 2 (2,231.1) (67.5) (2,163.6) (1,115.5) 50.9 (789.4) (76.0) (240.5) (58.6) (1.9) (1,048.1) (65.6) (104.3) (97.0) (641.7) (43.7) (95.8) - Adjusted EBITDA 49,384.9 13,083.2 36,844.8 29,074.5 10,890.9 12,843.4 5,093.5 307.2 2,234.8 (2,295.3) 7,770.3 1,864.3 2,811.1 853.0 (273.1) 2,084.9 430.1 (543.1) Amortisation and depreciation (7,592.4) (2,727.5) (4,864.9) (2,072.4) (806.1) (818.4) (409.9) (33.9) (281.5) 277.4 (2,792.5) (932.1) (1,092.1) (490.5) (13.6) (202.4) (61.8) - Interest income 1,065.4 278.6 786.8 222.1 27.3 106.5 84.0 2.8 4.0 (2.5) 564.7 67.3 58.6 35.6 45.4 178.2 179.6 - Finance expense (3,151.8) (1,057.3) (1,772.4) (661.8) (2,841.2) (258.8) (136.5) - (14.0) 2,588.7 (1,110.6) (156.4) (150.5) (107.1) (100.4) (57.9) (538.3) (322.1) Share-based payments (512.4) (80.2) (432.2) (90.1) (36.0) (41.1) (13.0) - - - (342.1) (21.8) (25.9) (18.6) - (140.6) (135.2) - Net other 3 (393.6) 31.4 (425.0) 1,223.6 (3,846.7) 2,131.5 121.8 (14.0) (16.2) 2,847.2 (1,648.6) 19.5 30.0 27.9 35.9 30.4 (1,792.3) - Non-underlying items 4 (1,550.1) (92.5) (1,385.3) 149.0 590.8 (434.8) (7.0) - - - (1,534.3) (27.3) (18.3) (40.3) (3.6) (1.6) (1,443.2) (72.3) Royalties and carbon tax (1,770.2) - (1,770.2) (1,625.4) (924.2) (691.5) (9.8) - (135.2) 135.3 (144.8) (72.9) (114.8) (46.1) (5.2) (0.3) 94.5 - Current taxation (5,374.3) (976.4) (4,352.8) (3,860.3) (2,634.9) 92.3 (1,299.7) (14.8) (450.3) 447.1 (492.5) (9.4) 9.2 (5.0) - (491.6) 4.3 (45.1) Deferred taxation 516.1 (681.5) 1,197.6 957.6 98.1 951.0 (34.1) (58.4) (41.9) 42.9 240.0 (232.9) (322.3) (88.7) - (97.0) 980.9 - Profit/(loss) for the year 30,621.6 7,777.8 23,826.4 23,316.8 518.0 13,880.1 3,389.3 188.9 1,299.7 4,040.8 509.6 498.3 1,185.0 120.2 (314.6) 1,302.1 (2,281.4) (982.6) Attributable to: Owners of the parent 29,311.9 7,777.8 22,516.7 22,650.9 518.0 13,229.6 3,389.3 173.3 1,299.7 4,041.0 (134.2) 498.3 1,185.0 120.2 (314.6) 659.4 (2,282.5) (982.6) Non-controlling interest holders 1,309.7 - 1,309.7 665.9 - 650.5 - 15.6 - (0.2) 643.8 - - - - 642.7 1.1 - Sustaining capital expenditure (2,816.7) (798.1) (2,018.6) (1,052.1) (325.6) (515.2) (187.8) (23.3) (413.9) 413.7 (966.5) (186.5) (392.0) (93.1) - (294.9) - - Ore reserve development (4,150.2) (1,239.2) (2,911.0) (1,124.8) (417.0) (707.8) - - - - (1,786.2) (742.3) (722.2) (321.7) - - - - Growth projects (2,648.5) (2,384.9) (263.6) (19.7) - - - (19.7) - - (243.9) - (155.4) (0.2) - (46.2) (42.1) - Total capital expenditure 5 (9,615.4) (4,422.2) (5,193.2) (2,196.6) (742.6) (1,223.0) (187.8) (43.0) (413.9) 413.7 (2,996.6) (928.8) (1,269.6) (415.0) - (341.1) (42.1) - 1 Corporate and reconciling items represent the items to reconcile segment data to consolidated financial statement totals. This does not represent a separate segment as it does not generate mining revenue. Group corporate includes the Wheaton Stream transaction and corporate transaction costs 2 Net other cash costs consist of service entity income, sundry income (refer note 8.2) and other costs as detailed in profit or loss, excluding loss due to dilution of interest in joint operation (refer note 8.1). Lease payments (R147.7 million) are included in net other cash costs to conform with the adjusted EBITDA reconciliation disclosed in note 28.9 3 Net other consists of loss on financial instruments, loss on foreign exchange differences, change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1) as detailed in profit or loss and the add back of the lease payment referred to in footnote 2 above. Corporate and reconciling items net other includes the share of results of equity-accounted investees after tax as detailed in profit or loss 4 Non-underlying items consists of gain on disposal of property, plant and equipment, impairments, loss on BTT early settlement, restructuring costs, transaction costs, loss on settlement of US$ Convertible Bond, income on settlement of legal dispute (refer note 8.2), non-cash loss with dilution of interest in joint operation (refer note 8.1) and occupational healthcare expense as detailed in profit or loss 5 Included in the amount is capital expenditure of R3.4 million relating to recycling activities at the US PGM operations Figures in million - SA rand Group US PGM Total SA Total Rusten- Marikana 1 Kroondal Platinum Mimosa Corporate 2 Total Drie-fontein Kloof Beatrix Cooke DRD-GOLD Corporate 2 Group 2019 Revenue 72,925.4 26,864.5 46,222.6 27,578.4 10,499.5 11,187.9 5,590.4 300.6 2,342.6 (2,342.6) 18,644.2 3,303.1 6,808.5 3,798.2 828.4 3,621.0 285.0 (161.7) Underground 51,528.2 12,343.3 39,346.6 26,616.5 9,901.1 11,125.0 5,590.4 - 2,342.6 (2,342.6) 12,730.1 3,301.4 5,552.4 3,576.9 21.2 - 278.2 (161.7) Surface 6,876.0 - 6,876.0 961.9 598.4 62.9 - 300.6 - - 5,914.1 1.7 1,256.1 221.3 807.2 3,621.0 6.8 - Recycling 14,521.2 14,521.2 - - - - - - - - - - - - - - - - Cost of sales, before amortisation and depreciation (56,100.4) (19,569.4) (36,531.0) (18,196.7) (6,466.9) (8,439.9) (3,076.3) (213.6) (1,336.3) 1,336.3 (18,334.3) (4,438.6) (6,872.9) (3,669.2) (617.3) (2,736.3) - - Underground (36,520.3) (5,600.8) (30,919.5) (17,207.9) (5,691.7) (8,439.9) (3,076.3) - (1,336.3) 1,336.3 (13,711.6) (4,428.6) (5,741.1) (3,525.3) (16.6) - - - Surface (5,611.5) - (5,611.5) (988.8) (775.2) - - (213.6) - - (4,622.7) (10.0) (1,131.8) (143.9) (600.7) (2,736.3) - - Recycling (13,968.6) (13,968.6) - - - - - - - - - - - - - - - - Net other cash costs 3 (1,869.0) (4.2) (1,864.8) (585.5) (156.1) (299.9) (103.4) (25.3) (8.0) 7.2 (1,279.3) (197.6) (152.7) (179.8) (568.6) (30.7) (149.9) - Adjusted EBITDA 14,956.0 7,290.9 7,826.8 8,796.2 3,876.5 2,448.1 2,410.7 61.7 998.3 (999.1) (969.4) (1,333.1) (217.1) (50.8) (357.5) 854.0 135.1 (161.7) Amortisation and depreciation (7,214.1) (2,285.6) (4,928.5) (1,919.0) (914.4) (500.4) (494.8) (4.8) (218.7) 214.1 (3,009.5) (920.5) (1,200.9) (640.0) (15.1) (172.1) (60.9) - Interest income 560.4 145.2 415.2 145.8 44.6 30.9 67.1 1.3 2.2 (0.3) 269.4 60.1 53.0 31.4 39.8 64.5 20.6 - Finance expense (3,302.5) (920.7) (2,071.0) (704.2) (1,407.5) (282.4) (146.9) - (21.8) 1,154.4 (1,366.8) (242.8) (242.9) (141.1) (73.7) (73.0) (593.3) (310.8) Share-based payments (363.3) (53.4) (309.9) - - - - - - - (309.9) - - - - (64.2) (245.7) - Net other 4 (4,925.8) 8.3 (4,934.1) (1,513.2) (11,381.8) 12.9 (0.3) 1.1 (137.2) 9,992.1 (3,420.9) 17.5 31.0 13.4 (113.9) 81.6 (3,450.5) - Non-underlying items 5 (567.0) (74.6) (123.4) 258.8 2.4 212.7 44.8 - (27.5) 26.4 (382.2) (169.5) (35.1) (112.4) (6.9) 4.3 (62.6) (369.0) Royalties and carbon tax (443.9) - (443.9) (358.2) (296.1) (54.5) (7.6) - (77.1) 77.1 (85.7) (16.6) (34.2) (30.8) (4.1) - - - Current taxation (1,848.7) (481.3) (1,367.4) (1,303.7) (780.3) 13.3 (536.0) - (135.5) 134.8 (63.7) (22.7) (5.5) (13.3) - (69.1) 46.9 - Deferred taxation 3,581.7 1,436.3 2,145.4 14.1 30.0 - (0.7) (16.5) (5.6) 6.9 2,131.3 74.8 150.4 89.9 - (129.9) 1,946.1 - Profit/(loss) for the year 432.8 5,065.1 (3,790.8) 3,416.6 (10,826.6) 1,880.6 1,336.3 42.8 377.1 10,606.4 (7,207.4) (2,552.8) (1,501.3) (853.7) (531.4) 496.1 (2,264.3) (841.5) Attributable to: Owners of the parent 62.1 5,065.1 (4,161.5) 3,355.0 (10,826.6) 1,821.6 1,336.3 39.3 377.1 10,607.3 (7,516.5) (2,552.8) (1,501.3) (853.7) (531.4) 188.7 (2,266.0) (841.5) Non-controlling interest holders 370.7 - 370.7 61.6 - 59.0 - 3.5 - (0.9) 309.1 - - - - 307.4 1.7 - Sustaining capital expenditure (2,039.3) (321.7) (1,717.6) (1,203.2) (316.3) (660.4) (212.8) (13.3) (343.1) 342.7 (514.4) (163.0) (238.1) (70.5) - (42.8) - - Ore reserve development (3,401.9) (1,036.2) (2,365.7) (1,029.2) (500.6) (528.6) - - - - (1,336.5) (512.9) (590.4) (233.2) - - - - Growth projects (2,264.9) (2,035.0) (229.9) (15.2) (1.8) - - (13.4) - - (214.7) - (108.9) (2.1) - (39.0) (64.7) - Total capital expenditure (7,706.1) (3,392.9) (4,313.2) (2,247.6) (818.7) (1,189.0) (212.8) (26.7) (343.1) 342.7 (2,065.6) (675.9) (937.4) (305.8) - (81.8) (64.7) - 1 The SA PGM operations’ results for the year ended 31 December 2019 include Marikana for the seven months since acquisition (refer to note 16.1) 2 Corporate and reconciling items represent the items to reconcile segment data to consolidated financial statement totals. This does not represent a separate segment as it does not generate mining revenue. Group corporate includes the Wheaton Stream transaction and corporate transaction costs. To align the classification of finance cost on the Wheaton Stream as well as corporate transaction costs between reporting periods, a reclassification between Gold Corporate and Group corporate was made 3 Net other cash costs consist of other costs and other income as detailed in profit or loss, excluding change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1). Lease payments (R131.7 million) are included in net other cash costs to conform with the adjusted EBITDA reconciliation disclosed in note 28.9 4 Net other consists of loss on financial instruments, gain on foreign exchange differences, change in estimate of environmental rehabilitation obligation, right of recovery receivable and payable (refer note 8.1) as detailed in profit or loss and the add back of the lease payment referred to in footnote 3 above. Corporate and reconciling items net other includes the share of results of equity-accounted investees after tax as detailed in profit or loss 5 Non-underlying items consists of gain on disposal of property, plant and equipment, impairments, gain on acquisition, occupational healthcare expense, restructuring costs and transaction costs as detailed in profit or loss Figures in million - SA rand Group US PGM Total SA Total Kroondal Platinum Mimosa Rusten- Corporate 2 Total Drie-fontein Kloof Beatrix Cooke DRD-GOLD 1 Corporate 2 Group 2 2018 Revenue 50,656.4 15,872.8 34,810.3 15,153.6 3,584.4 196.7 1,857.5 11,372.5 (1,857.5) 19,656.7 5,111.2 8,131.7 4,601.3 841.8 1,047.5 (76.8) (26.7) Underground 38,605.7 8,430.1 30,202.3 14,045.1 3,584.4 - 1,857.5 10,460.7 (1,857.5) 16,157.2 4,782.4 6,937.9 4,467.8 45.9 - (76.8) (26.7) Surface 4,608.0 - 4,608.0 1,108.5 - 196.7 - 911.8 - 3,499.5 328.8 1,193.8 133.5 795.9 1,047.5 - - Recycling 7,442.7 7,442.7 - - - - - - - - - - - - - - - Cost of sales, before amortisation and depreciation (41,515.2) (11,720.9) (29,794.3) (12,096.0) (2,739.4) (152.7) (1,235.7) (9,203.9) 1,235.7 (17,698.3) (5,709.3) (6,364.8) (3,910.8) (693.4) (1,020.0) - - Underground (30,248.7) (4,524.4) (25,724.3) (11,131.4) (2,739.4) - (1,235.7) (8,392.0) 1,235.7 (14,592.9) (5,386.7) (5,352.2) (3,841.0) (13.0) - - - Surface (4,070.0) - (4,070.0) (964.6) - (152.7) - (811.9) - (3,105.4) (322.6) (1,012.6) (69.8) (680.4) (1,020.0) - - Recycling (7,196.5) (7,196.5) - - - - - - - - - - - - - - - Net other cash costs 3 (771.8) - (771.8) (175.8) (52.7) (1.2) (6.7) (121.1) 5.9 (596.0) (50.2) (44.8) (37.2) (573.4) 8.7 100.9 - Adjusted EBITDA 8,369.4 4,151.9 4,244.2 2,881.8 792.3 42.8 615.1 2,047.5 (615.9) 1,362.4 (648.3) 1,722.1 653.3 (425.0) 36.2 24.1 (26.7) Amortisation and depreciation (6,613.8) (2,234.4) (4,379.4) (1,074.4) (370.4) (3.0) (191.6) (697.1) 187.7 (3,305.0) (1,200.9) (1,378.8) (635.3) (5.7) (57.9) (26.4) - Interest income 482.1 83.2 398.9 83.5 60.3 1.3 0.1 20.2 1.6 315.4 94.3 72.0 40.0 41.7 26.1 41.3 - Finance expense (3,134.7) (1,797.1) (1,177.3) (422.4) (130.5) - (13.0) (1,890.6) 1,611.7 (754.9) (234.9) (245.9) (143.6) (78.1) (33.0) (19.4) (160.3) Share-based payments (299.4) (35.7) (263.7) - - - - - - (263.7) (0.2) - - - (3.2) (260.3) - Net other 4 3,284.0 68.8 3,215.2 726.3 137.6 0.7 (9.2) 4,348.0 (3,750.8) 2,488.9 (362.8) (110.3) (57.8) (106.2) (419.1) 3,545.1 - Non-underlying items 5 (3,311.9) (210.7) (2,932.7) (29.7) 0.4 - - (30.7) 0.6 (2,903.0) (2,157.6) 27.2 (156.6) (50.6) (4.6) (560.8) (168.5) Royalties (212.6) - (212.6) (162.0) (5.5) - (57.6) (156.5) 57.6 (50.6) 1.4 (29.0) (18.8) (4.2) - - - Current taxation (95.3) 238.3 (333.6) (278.5) - - (103.4) (277.4) 102.3 (55.1) 63.9 (75.3) 5.5 0.8 (3.0) (47.0) - Deferred taxation (988.5) (1,795.7) 807.2 (192.6) (168.9) (9.2) (29.9) (15.5) 30.9 999.8 922.9 313.1 127.8 - (132.0) (232.0) - (Loss)/profit for the year (2,520.7) (1,531.4) (633.8) 1,532.0 315.3 32.6 210.5 3,347.9 (2,374.3) (2,165.8) (3,522.2) 295.1 (185.5) (627.3) (590.5) 2,464.6 (355.5) Attributable to: Owners of the parent (2,499.6) (1,531.4) (612.7) 1,529.3 315.3 29.9 210.5 3,347.9 (2,374.3) (2,142.0) (3,522.2) 295.1 (185.5) (627.3) (565.8) 2,463.7 (355.5) Non-controlling interest holders (21.1) - (21.1) 2.7 - 2.7 - - - (23.8) - - - - (24.7) 0.9 - Sustaining capital expenditure (1,271.2) (260.2) (1,011.0) (464.4) (141.4) (9.5) (170.9) (313.5) 170.9 (546.6) (228.1) (220.6) (82.6) - (14.5) (0.8) - Ore reserve development (3,530.4) (998.9) (2,531.5) (477.9) - - - (477.9) - (2,053.6) (817.1) (839.6) (396.9) - - - - Growth projects (2,279.2) (1,574.0) (705.2) (57.7) - (57.1) - (0.6) - (647.5) (0.4) (141.8) (1.7) - (303.3) (200.3) - Total capital expenditure (7,080.8) (2,833.1) (4,247.7) (1,000.0) (141.4) (66.6) (170.9) (792.0) 170.9 (3,247.7) (1,045.6) (1,202.0) (481.2) - (317.8) (201.1) - 1 The SA gold operations’ results of the year ended 31 December 2018 includes DRDGOLD for five months since acquisition 2 Corporate and reconciling items represent the items to reconcile segment data to consolidated financial statement totals. This does not represent a separate segment as it does not generate mining revenue. Group corporate previously included only the Wheaton Stream finance costs. To align the classification of corporate transaction costs between reporting periods, a reclassification between Gold Corporate and Group corporate was made 3 Net other cash costs consist of other costs and other income as detailed in profit or loss, excluding change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1) 4 Net other costs consists of gain on financial instruments, gain on foreign exchange differences, change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable (refer note 8.1). Corporate and reconciling items net other costs includes the share of results of equity-accounted investees after tax as detailed in profit or loss 5 Non-underlying items consists of gain on disposal of property, plant and equipment, impairments, gain on derecognition of borrowings and derivative financial instrument, occupational healthcare expense, restructuring costs, and transaction costs as detailed in profit or loss

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2020
REVENUE.
Disclosure of revenue from contracts with customers	Figures in million - SA rand Gold mining activities 27,868.8 18,644.2 19,656.7 PGM mining activities 72,469.3 38,418.4 22,735.2 Recycling activities 25,296.5 14,521.2 7,442.7 Stream 1 538.5 540.4 201.6 Total revenue from contracts with customers 126,173.1 72,124.2 50,036.2 Adjustments relating to sales of PGM concentrate 2 1,219.3 801.2 620.2 Total revenue 127,392.4 72,925.4 50,656.4 1 The difference between revenue from PGM mining activities above and total revenue from PGM mining activities per the segment report relates to the separate disclosure of revenue from the gold and palladium streaming arrangement with Wheaton International (Wheaton Stream) in the above as well as the separate disclosure of revenue related to adjustments on the sales of PGM concentrate. Revenue relating to the Wheaton Stream is incorporated in the Group corporate segment as described in the segment report 2 These adjustments relate to provisional pricing arrangements resulting in subsequent changes to the amount of revenue recognised Revenue per geographical region of the relevant operations: Figures in million - SA rand Southern Africa 82,781.4 46,222.6 34,810.3 United States 1 44,611.0 26,702.8 15,846.1 Total revenue 127,392.4 72,925.4 50,656.4 1 The difference between revenue generated by operations in the US and the revenue in the US PGM operations segment relates to the Wheaton Stream
Schedule of revenue generated by product	Figures in million - SA rand Gold 28,929.8 18,882.1 21,434.2 PGMs 1 95,572.5 51,504.9 27,545.7 Platinum 17,053.9 13,013.2 9,233.9 Palladium 47,280.9 28,031.0 15,282.3 Rhodium 29,865.1 9,338.1 2,236.0 Iridium 814.5 649.6 442.9 Ruthenium 558.1 473.0 350.6 Chrome 1,572.7 1,749.3 1,128.9 Other 2 1,317.4 789.1 547.6 Total revenue 127,392.4 72,925.4 50,656.4 1 In line with Sibanye-Stillwater’s mine-to-market PGM strategy and according to the processing agreements with Anglo American Platinum Limited (Anglo American Platinum), the processing arrangement for SRPM production changed from a purchase of concentrate arrangement to a Toll processing arrangement from 1 January 2019 2 Other primarily includes revenue from nickel, silver, cobalt and copper sales

COST OF SALES (Tables)

COST OF SALES (Tables)	12 Months Ended
	Dec. 31, 2020
COST OF SALES.
Schedule of cost of sales	Figures in million - SA rand Notes Salaries and wages (23,850.6) (21,215.6) (15,710.3) Consumable stores (16,404.0) (12,784.3) (9,327.9) Utilities (6,800.9) (6,089.3) (5,049.2) Mine contracts (3,789.9) (3,566.4) (3,197.6) Recycling 1 (24,417.5) (13,968.6) (7,196.5) Other (4,663.7) (1,878.0) (4,564.0) Ore reserve development costs capitalised 4,150.2 3,401.8 3,530.3 Cost of sales, before amortisation and depreciation (75,776.4) (56,100.4) (41,515.2) Amortisation and depreciation (7,592.4) (7,214.1) (6,613.8) Total cost of sales (83,368.8) (63,314.5) (48,129.0) 1 Recycling cost consists of cost relating to the purchasing of spent catalytic material and the cost incurred to convert the spent catalytic material into finished PGMs

Interest income and finance e_2

Interest income and finance expense (Tables)	12 Months Ended
	Dec. 31, 2020
Finance expense
Schedule of interest income	Figures in million - SA rand Note Interest received on cash deposits 714.1 264.0 172.4 Interest received on rehabilitation obligation funds 245.1 265.5 223.5 Interest on right of recovery asset 16.0 15.8 14.1 Other 90.2 15.1 72.1 Total interest income 1,065.4 560.4 482.1
Schedule of finance expense	Figures in million - SA rand Notes Interest charge on: Borrowings - interest (1,289.9) (1,444.9) (1,572.5) Borrowings - accrued interest and unwinding of amortised cost (393.2) (374.4) (538.3) Lease liabilities (33.9) (33.9) - Environmental rehabilitation obligation (683.8) (578.7) (398.8) Occupational healthcare obligation (96.3) (115.5) (105.4) Deferred Payment (related to the Rustenburg operation acquisition) (186.8) (179.0) (200.4) Dissenting shareholders - (21.2) (68.1) Deferred revenue 1 (349.2) (352.3) (160.3) Deferred consideration (related to Pandora acquisition) (49.1) (40.5) - Other (69.6) (162.1) (90.9) Total finance expense (3,151.8) (3,302.5) (3,134.7) 1 For the year ended 31 December 2020, interest expense includes non-cash interest of R322.1 million (2019: R310.8 million, 2018: R160.3 million) relating to the Wheaton Stream. In addition, interest expense includes non-cash interest of R12.6 million (2019: R41.5 million, 2018: Rnil) relating to the BTT project. Although there is no cash financing cost related to this arrangement, IFRS 15 requires the Group to recognise a notional financing charge due to the significant time delay between receiving the upfront streaming payment and satisfying the related performance obligations. A discount rate of 4.6% and 5.2% was used for the Wheaton palladium and gold stream respectively and 11.5% was used for the BTT stream in determining the finance costs to be recognised as part of the streaming transactions entered into. For the year ended 31 December 2020, interest expense also includes R14.5 million non-cash interest relating to the platinum forward sale entered into by Western Platinum Proprietary Limited (WPL) on 3 March 2020

SHARE-BASED PAYMENTS (Tables)

SHARE-BASED PAYMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
SHARE-BASED PAYMENTS
Schedule of directors and prescribed officers' equity-settled instruments	The disclosure below incorporates remuneration for services rendered to various companies within the Group during the year. The executive directors and prescribed officers were paid the following remuneration during the year: Figures in thousands - SA rand Salary Cash bonus accrued for 2020 paid in 2021 Accrual of share-based payment benefits Pension scheme total contributions Expense allowance and other benefits Executive directors Neal Froneman 1 13,336 13,405 30,292 838 102 57,973 31,917 35,760 Charl Keyter 6,353 6,526 15,067 937 80 28,963 16,024 17,697 Prescribed officers Chris Bateman 2 7,058 3,484 52,404 959 3,054 66,959 25,289 16,885 Shadwick Bessit 3 4,218 4,022 5,749 769 31 14,789 10,595 688 Hartley Dikgale 4 977 712 26,852 65 553 29,159 7,898 8,761 Dawie Mostert 3,870 3,660 8,553 545 27 16,655 9,284 10,112 Themba Nkosi 3,788 3,178 8,005 292 23 15,286 8,117 7,265 Wayne Robinson 4,532 4,483 9,848 381 28 19,272 10,044 10,925 Richard Stewart 4,075 3,669 10,635 467 27 18,873 9,428 12,986 Robert van Niekerk 5,156 5,486 11,700 589 44 22,975 13,547 13,508 Laurent Charbonnier 5 1,315 773 515 11 - 2,614 - - Lerato Legong 6 1,144 945 630 156 - 2,875 - - Total 55,822 50,343 180,250 6,009 3,969 296,393 142,143 134,587 1 Entered into a dual service contract with effect 1 January 2020. Remuneration paid by Stillwater in US dollars was converted at the average exchange rate of R16.46/US$ for the year ended 31 December 2020 2 Remuneration paid in US dollars was converted at the average exchange rate of R16.46/US$ for the year ended 31 December 2020. Ceased performing a prescribed officer role on 6 September 2020 3 Ceased performing a prescribed officer role on 16 January 2021 4 Ceased performing a prescribed officer role on 31 March 2020 5 Assumed a prescribed officer role on 16 November 2020, remuneration paid in GBP was converted at the average exchange rate of R21.10/GBP for the year ended 31 December 2020 6 Assumed a prescribed officer role on 1 September 2020 Total key management personnel compensation recognised under IFRS: Figures in thousands - SA rand Short-term employee benefits 110,134.0 106,605.0 83,635.0 Post-employment benefits 6,008.0 5,300.0 4,546.0 Share-based payment 127,096.6 120,477.7 46,406.0 Total 243,238.6 232,382.7 134,587.0 The non-executive directors were paid the foll owing fees during the year: Figures in thousands - SA rand Directors fees Committee fees Expense allowance Timothy Cumming 1,042 743 124 1,909 1,795 1,698 Savannah Danson 1,042 638 - 1,680 1,609 1,480 Barry Davison 1 - - - - 666 1,649 Harry Kenyon-Slaney 1,199 775 140 2,114 1,699 - Richard Menell 1,679 354 81 2,114 1,831 1,723 Sello Moloko 2 - - - - 1,407 1,802 Nkosemntu Nika 1,042 638 28 1,708 1,609 1,435 Keith Rayner 1,042 822 - 1,864 1,881 1,723 Susan van der Merwe 1,042 638 36 1,716 1,609 1,491 Jerry Vilakazi 1,042 380 - 1,422 1,362 1,289 Vincent Maphai 2,669 - 87 2,756 822 - Elaine Jay Dorward-King 3 906 201 - 1,107 - - Wang Bin 4 255 72 - 327 - - Lu Jiongjie 4 255 72 - 327 - - Total 13,215 5,333 496 19,044 16,290 14,290 1 Resigned as a non-executive director on 28 May 2019 2 Resigned as a non-executive director on 30 September 2019 3 Appointed as a non-executive director 27 March 2020 4 Appointed and resigned as a non-executive director on 24 February 2020 and 27 March 2020, respectively The directors’ and prescribed officers’ share ownership at 31 December 2020 was 1 : Number of shares % Executive directors Neal Froneman 2,10 4,555,954 0.17 0.18 0.20 Charl Keyter 2,10 1,530,119 0.06 0.06 0.07 Non-executive directors Timothy Cumming 2 1,242 242 106 - - - Barry Davison 4 - - 1,567,710 - - 0.07 Richard Menell 2 84,625 108,625 108,625 - - - Sello Moloko 4 - - 111,534 - - - Keith Rayner 2 68,992 68,992 68,992 - - - Susan van der Merwe 2 1,027 1,028 1,028 - - - Vincent Maphai 2 50,000 - - - - - Savannah Danson 2 2,519 - - - - - Harry Kenyon-Slaney 2,5 16,852 - - - - - Elaine Dorward-King 2,6 4,800 - - - - - Total share ownership by directors 7,944,068 Prescribed officers Chris Bateman 7 - 32,747 32,747 - - - Shadwick Bessit 8 94,707 31,652 219,782 - - 0.01 Hartley Dikgale 7 - 184,311 114,744 - 0.01 0.01 Dawie Mostert 3,10 38,975 38,975 50,743 - - - Themba Nkosi 2,10 59,022 796 19,107 - - - Wayne Robinson 2,10 184,333 73,292 39,321 0.01 - - Richard Stewart 2,10 105,303 362,747 421,653 - 0.01 0.02 Robert van Niekerk 3,10 257,732 271,537 - 0.01 0.01 Laurent Charbonnier 2,9 35,620 - - - - - Lerato Legong 2 - - - - - - Total 9,113,702 1 Following the implementation of the Scheme (refer note 26), the Directors’ shareholdings are in Sibanye Stillwater Limited 2 Share ownership in the Company at the date of this report is unchanged (except as described in footnote 10 below) 3 Share ownership in the Company at the date of this report was (except as described in footnote 10 below): · Dawie Mostert – 6,100 shares · Robert van Niekerk – 366 shares 4 Resigned during 2019 5 Harry Kenyon-Slaney holds 4,213 ADRs which convert to 16,852 ordinary shares in the Company 6 Appointed during 2020. Elaine Dorward-King holds 1,200 ADRs at 31 December 2020 which convert to 4,800 ordinary shares in the Company 7 Ceased performing a prescribed officer role during 2020 8 Ceased performing a prescribed officer role during 2021 before the annual financial report was authorised for issue 9 Appointed during 2020. Laurent Charbonnier holds 8,905 ADRs at 31 December 2020 which convert to 35,620 ordinary shares in the Company 10 At the date of this report, the following directors and prescribed officers had shares in escrow following the March 2021 vesting in terms of the equity-settled share-based payment scheme: — Neal Froneman – 2,725,411 shares and 319,165 ADRs — Charl Keyter – 2,037,730 shares — Dawie Mostert – 989,754 shares — Themba Nkosi – 795,975 shares — Wayne Robinson – 915,070 shares and 9,036 ADRs — Richard Stewart – 1,135,892 shares — Robert Van Niekerk – 1,598,602 shares
Reconciliation of the share-based payment obligations	Figures in million - SA rand Note Share-based payment on Rustenburg BEE transaction 1,468.5 1,367.6 149.7 Employee cash-settled share-based payment plans 159.9 57.5 76.0 Balance at end of the year 1,628.4 1,425.1 225.7 Reconciliation of the share-based payment obligations Balance at beginning of the year 1,425.1 225.7 434.5 Cash-settled share-based payments expense 1 353.4 73.0 17.7 Fair value loss/(gain) on obligations 2 128.6 1,217.9 (249.9) Cash-settled share-based payments paid 3 (274.5) (90.9) (21.7) Share-based payment obligation on acquisition of subsidiary - - 45.1 Foreign currency translation (4.2) (0.6) - Balance at end of the year 1,628.4 1,425.1 225.7 Reconciliation of the non-current and current portion Cash-settled share-based payment obligations 1,628.4 1,425.1 225.7 Current portion of cash-settled share-based payment obligations (33.1) (82.1) (56.8) Non-current portion of cash-settled share-based payment obligations 1,595.3 1,343.0 168.9 1 Included in the amount is a share-based payment expense for the year ended 31 December 2020 related to cash-settled share-based payment schemes of Stillwater of R0.7 million (31 December 2019 and 31 December 2018: R8.9 million and R14.5 million, respectively) and DRDGOLD Limited of R127.8 million (31 December 2019 and 31 December 2018: R64.1 million and R3.2 million, respectively). The remainder of the expense relates to the new 2020 cash-settled share-based payment awards of the Group 2 The fair value adjustment relates to the Rustenburg BEE Transaction and is included in the loss on financial instruments in profit or loss 3 Payments made during the year relate to vesting of cash-settled awards to employees and payments made on the Rustenburg BEE Transaction as well as the vesting of the last tranche of the November 2015 grant relating to DRDGOLD
Expenses from share based payment arrangements	Figures in million - SA rand Notes Sibanye-Stillwater 2020 Share Plan (cash-settled scheme) (225.9) - - Sibanye-Stillwater 2017 Share Plan (equity-settled scheme) (145.2) (194.4) (139.2) Sibanye-Stillwater 2013 Share Plan (equity-settled scheme) - (95.9) (142.5) Stillwater (cash-settled scheme) (0.7) (8.9) (14.5) DRDGOLD (equity-settled scheme) (12.8) - - DRDGOLD (cash-settled scheme) 1 (127.8) (64.1) (3.2) Total share-based payment expense (512.4) (363.3) (299.4) Reconciliation of the cash-settled and equity-settled share-based payment expense: Cash-settled share-based payment expense 2 (354.4) (73.0) (17.7) Equity-settled share-based payment expense (158.0) (290.3) (281.7) Total share-based payment expense (512.4) (363.3) (299.4) 1 The DRDGOLD share-based payment expense represents a cash-settled long-term incentive scheme in which phantom shares were issued. The increase in expense relates mainly to the remeasurement of the cash-settled liability over the vesting period and an increase in the seven day volume weighted average price of the DRDGOLD share price 2 Included in the cash-settled share-based payment expense is grant date fair value movements of R120.3 million and fair value movements after grant date of R232.4 million
Share Plan 2020 [Member]
SHARE-BASED PAYMENTS
Inputs to the models for equity instruments granted during the year	Conditional Forfeitable Share Units Share Units MONTE CARLO SIMULATION - - Weighted average historical volatility (based on a statistical analysis of the share price on a weighted moving average basis for the expected term of the option) % n/a - - - - 3 Expected term (years) n/a - - - - 36.0 Expected term (months) 9 - 18 - - - - Expected dividend yield (USA/SA) % 12.92/6.66 - - - - Risk-free interest rate (USA/SA) % 0.14/3.40 - - R60.0 Weighted average share price (ADR/JSE) US$15.89/R60 - - 40.38 Weighted average fair value (SA rand) 67.72 - -
Summary of activity of other equity instruments	Conditional Forfeitable Share Units Share Units Number of units - - - Outstanding at beginning of the year - - - - - Movement during the year: - - - - Granted during the year 1,985,819 - - - - (10,891) Vested (965,294) - - - - (868,913) Forfeited (70,305) - - - - Outstanding at end of the year 950,220 - -
Schedule of directors and prescribed officers' equity-settled instruments	Instruments granted Cash-settled instruments Instruments forfeited Number of instruments Number of instruments Number of instruments Average Cash 1 Number of instruments Number of instruments Executive directors Neal Froneman 2 - 1,736,343 102,710 57.20 5,875,151 - 1,633,633 Charl Keyter - 776,882 47,734 55.85 2,666,087 - 729,148 Prescribed officers Chris Bateman 3 - 790,804 83,596 54.28 4,537,327 672,288 34,920 Shadwick Bessit - 489,363 31,085 55.85 1,736,190 - 458,278 Hartley Dikgale 4 - 240,241 5,103 22.65 115,558 233,492 1,646 Dawie Mostert - 431,942 26,844 55.85 1,499,318 - 405,098 Themba Nkosi - 349,669 23,170 55.85 1,294,114 - 326,499 Wayne Robinson - 419,040 28,103 55.85 1,569,637 - 390,937 Richard Stewart - 434,990 27,033 55.85 1,509,874 - 407,957 Laurent Charbonnier 5 - 138,895 - - - - 138,895 Lerato Legong 6 - 148,362 - - - - 148,362 Robert van Niekerk - 698,830 43,656 55.85 2,438,319 - 655,174 1 Amounts represents pre-tax earnings paid to participants. For South African participants, these amounts were calculated by taking the Company’s VWAP share price on vesting date multiplied by the number of vested units. Chris Bateman’s proceeds were calculated by taking the Company’s closing ADR share prices on day prior to vesting multiplied by the number of units vested 2 Numbers include ADRs and JSE listed shares as a result of the dual service contract 3 Share proceeds were calculated by converting the US dollar amounts at an average exchange rate of R16.46/US$ for the year ended 31 December 2020. Chris Bateman ceased performing a prescribed officer role on 6 September 2020 4 Ceased performing a prescribed officer role on 31 March 2020 5 Assumed a prescribed officer role on 16 November 2020 6 Assumed a prescribed officer role on 1 September 2020
Sibanye 2017 and 2013 Share Plan [Member]
SHARE-BASED PAYMENTS
Schedule of directors and prescribed officers' equity-settled instruments	Instruments granted Equity-settled instruments Instruments forfeited Number of instruments Number of instruments Number of instruments Average Share 2 Number of instruments Number of instruments Executive directors Neal Froneman 3 9,647,563 - 827,687 38.78 32,095,618 1,452,461 7,367,415 Charl Keyter 4,689,446 - 416,220 38.22 15,909,215 736,054 3,537,172 Prescribed officers Chris Bateman 4 3,976,014 - 1,055,727 52.51 55,433,322 2,092,683 827,604 Shadwick Bessit 1,928,857 - 214,249 37.45 8,024,436 394,887 1,319,721 Hartley Dikgale 5 2,155,964 - 833,284 33.46 27,882,245 1,322,680 - Dawie Mostert 2,462,548 - 236,036 38.11 8,996,232 419,915 1,806,597 Themba Nkosi 2,163,196 - 221,755 37.65 8,350,171 395,503 1,545,938 Wayne Robinson 2,579,947 - 260,536 37.81 9,850,640 471,210 1,848,201 Richard Stewart 2,957,219 - 302,063 37.26 11,253,941 562,512 2,092,644 Robert van Niekerk 3,924,717 - 313,281 38.28 11,990,926 633,725 2,977,711 1 Prior to the implementation of the Scheme, the share awards were issued and settled by SGL. From 24 February 2020, all share awards are settled by the Company. No new equity-settled instruments were issued during 2020. The 2019 number of instruments reflects the take-on instruments at 24 February 2020 when the Company became the settling entity 2 Amounts represent earnings taxable in the hands of the participants. These were calculated by taking vesting date closing share prices of the Company multiplied by the number of vested units 3 Numbers include American Depositary Receipts (ADRs) and JSE listed shares and as a result of the dual service contract 4 Share proceeds were calculated by converting the US dollar amounts at an average exchange rate of R16.46/US$ for the year ended 31 December 2020. Chris Bateman ceased performing a prescribed officer role on 6 September 2020 5 Ceased performing a prescribed officer role on 31 March 2020
Sibanye Stillwater 2017 Share Plan [Member]
SHARE-BASED PAYMENTS
Summary of percentile on peer group	TSR element of performance conditions Percentile on peer group TSR curve % vesting 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Summary of return on capital employed	ROCE element of performance condition Annual ROCE % vesting ≤K e K e + 1% K e + 2% K e + 3% K e + 4% K e + 5% K e + 6%
Summary of activity of other equity instruments	Performance Bonus shares shares Number of instruments 12,953,888 48,535,348 68,236,442 Outstanding at beginning of the year 2,582,489 3,269,210 - Movement during the year: 41,103,872 30,512,439 - Granted during the year - 3,994,507 5,977,437 (1,457,586) - (1,005,668) Vested (2,541,680) (5,823,174) (2,348,445) (4,064,826) (10,811,345) (4,633,349) Forfeited (40,809) 1,141,946 (359,782) 48,535,348 68,236,442 62,597,425 Outstanding at end of the year - 2,582,489 3,269,210
Sibanye 2013 Share Plan - Allocations From March 2016 Onwards [Member]
SHARE-BASED PAYMENTS
Inputs to the models for equity instruments granted during the year	Performance Bonus shares shares MONTE CARLO SIMULATION n/a Weighted average historical volatility (based on a statistical analysis of the share price on a weighted moving average basis for the expected term of the option) % n/a n/a 3 3 n/a Expected term (years) n/a n/a n/a n/a n/a n/a Expected term (months) n/a 9 - 18 9 - 18 n/a Expected dividend yield % n/a - 2.14 / 2.30 n/a Weighted average three-year risk-free interest rate (based on SA interest rates) % n/a 7.06 / 7.07 6.87 / 6.77 6.86 11.17 n/a Weighted average fair value n/a 15.58 11.43
Summary of activity of other equity instruments	Performance shares Bonus shares Number of instruments 19,379,386 15,215,982 11,157,460 Outstanding at beginning of the year - - 446,469 Movement during the year: - - - Granted during the year - - - (2,523,162) (467,017) (5,055,647) Vested - - (415,579) (1,640,242) (3,591,505) (6,101,813) Forfeited - - (30,890) 15,215,982 11,157,460 - Outstanding at end of the year - - -

(Loss)_gain on financial inst_2

(Loss)/gain on financial instruments (Tables)	12 Months Ended
	Dec. 31, 2020
(Loss)/gain on financial instruments
Schedule of gain (loss) on financial instrument	Figures in million - SA rand Notes Fair value loss on gold hedge contracts 1 (457.6) (110.1) (180.6) Fair value gain on palladium hedge contract 2 36.1 - - Fair value (loss)/gain on derivative financial instrument (70.2) (3,911.5) 678.1 Fair value (loss)/gain on cash-settled share-based payment obligations (Rustenburg BEE transaction) (128.6) (1,217.9) 249.9 (Loss)/gain on the revised cash flow of the Deferred Payment (2,081.0) (724.1) 150.6 Gain/(loss) on the revised cash flow of the Burnstone Debt 264.3 (96.6) 804.6 Fair value gain on foreign currency hedge - - 25.3 Other (13.3) 45.1 (23.8) Total (loss)/gain on financial instruments (2,450.3) (6,015.1) 1,704.1 1 At the end of 2017 and during 2018, Sibanye-Stillwater began a hedging program for SGL and Rand Uranium Proprietary Limited by entering into commodity hedging contracts. The contracts comprise gold zero cost collars which establish a minimum (floor) and maximum (cap) gold sales price. On 9 March 2020, Sibanye-Stillwater concluded a gold hedge agreement which commenced on 1 April 2020, comprising the delivery of 1,800 kilograms of gold (150 kilograms per month) with a zero cost collar which establishes a minimum floor of R800,000 per kilogram and a maximum cap of R1,080,000 per kilogram. For the year ended 31 December 2020, there was a realised loss of R525.9 million (2019: R284.6 million, 2018: gain of R76.9 million) and unrealised gain of R68.3 million (2019: R174.5 million, 2018: loss of R257.5 million). As hedge accounting is not applied, resulting gains or losses are accounted for as gains or losses on financial instruments in profit or loss 2 On 17 January 2020, Stillwater Mining Company (wholly owned subsidiary of Sibanye-Stillwater) concluded a palladium hedge agreement which commenced on 28 February 2020, comprising the delivery of 240,000 ounces of palladium over two years (10,000 ounces per month) with a zero cost collar which establishes a minimum and a maximum cap of US$1,500 and US$3,400 per ounce, respectively. For year ended 31 December 2020, the unrealised gain was R36.1 million. As hedge accounting is not applied, resulting gains or losses are accounted for as gains or losses on financial instruments in profit or loss

OTHER COSTS (Tables)

OTHER COSTS (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER COSTS
Schedule of other costs	Figures in million - SA rand Care and maintenance (814.4) (765.9) (576.5) Change in estimate of environmental rehabilitation obligation, - (88.9) 66.6 Loss due to dilution of interest in joint operation (30.2) - - Non-recurring COVID-19 costs (97.0) - - Corporate and social investment costs (257.8) (149.9) (70.1) Cost incurred on employee and community trusts (507.8) (50.3) - Exploration costs (33.0) (10.7) - Non-mining royalties (193.4) (87.5) (104.7) Strike related costs (0.6) (402.3) (31.7) Service entity costs (501.1) (403.7) (193.6) Other (291.6) (351.2) (105.4) Total other costs (2,726.9) (2,310.4) (1,015.4)
Schedule of other income	Figures in million - SA rand Income on settlement of legal dispute 1 580.0 - - Change in estimate of environmental rehabilitation obligation, 464.1 - - Service entity income 382.9 263.8 296.5 Sundry income 230.4 220.4 13.7 Total other income 1,657.4 484.2 310.2 1 The income of R580.0 million relates to the settlement of a legal dispute concerning a historical transaction

IMPAIRMENT (Tables)

IMPAIRMENT (Tables)	12 Months Ended
	Dec. 31, 2020
IMPAIRMENTS
Schedule of impairments	Figures in million - SA rand Notes Impairment of property, plant and equipment (0.5) (5.1) (2,603.3) Impairment of goodwill - (54.3) (436.3) Reversal of impairment/(impairment) of equity-accounted investee 119.6 (12.3) - Other reversal of impairment 2.3 - - Impairment of loan to equity-accounted investee - (14.3) (1.8) Total reversal of impairments/(impairments) 121.4 (86.0) (3,041.4)

Royalties, and Mining and inc_2

Royalties, and Mining and income tax (Tables)	12 Months Ended
	Dec. 31, 2020
Mining and income tax
Schedule of royalty tax expense	Figures in million - SA rand Current charge (1,767.8) (431.0) (255.5) SA gold royalties (142.3) (73.7) (93.5) SA PGM royalties (1,625.5) (357.3) (162.0) Prior year royalty tax refund 2.8 - 42.9 Total royalties (1,765.0) (431.0) (212.6)
Schedule of mining and income tax expense	Figures in million - SA rand Note Current tax (5,374.3) (1,848.7) (95.3) Mining tax (4,442.1) (1,363.9) (36.8) Non-mining tax 68.0 3.1 (57.6) Company and capital gains tax (1,000.2) (487.9) (0.9) Deferred tax 516.1 3,581.7 (988.5) Deferred tax charge 570.1 2,030.7 306.7 Deferred tax rate adjustment 1 (54.0) 1,551.0 (1,295.2) Total mining and income tax (4,858.2) 1,733.0 (1,083.8) 1 The deferred tax rate adjustment in South Africa and the US was: Figures in million - SA rand South Africa (54.0) (23.1) 249.5 United States - 1,574.1 (1,544.7) Deferred tax rate adjustment (54.0) 1,551.0 (1,295.2) The change in the estimated long term deferred tax rate, as a result of applying the mining tax formula at the SA gold operations, at which the temporary differences will reverse amounted to a deferred tax charge of R54.0 million for the year ended 31 December 2020 (2019: charge of R23.1 million and 2018: benefit of R249.5 million) During year ended 31 December 2018, the New Jersey Governor signed a number of bills that implement numerous tax changes which affected the US PGM operations. The most significant change in the law resulted in tax being calculated together on all US entities under common control (greater than 50% voting ownership). This resulted in an increase in the estimated deferred tax rate relating to the US PGM operations and a deferred tax charge of R1,544.7 million (US$107.7 million) during 31 December 2018. With contract changes during 2019, the US PGM operations experienced a shift of its state tax exposure out of New Jersey state resulting in a deferred tax rate adjustment of R1,574.1 million (benefit)
Schedule of reconciliation of the Group's mining and income tax to the South African statutory company tax rate	Figures in million - SA rand Tax on profit before tax at maximum South African statutory company tax rate (28%) (9,934.3) 364.1 402.3 South African gold mining tax formula rate adjustment 117.7 (192.6) (53.0) US statutory tax rate adjustment 550.3 205.4 19.4 Non-deductible amortisation and depreciation (14.4) (14.7) (21.2) Non-taxable dividend received 21.0 2.1 15.4 Non-deductible finance expense 1 89.4 (86.3) (118.2) Non-deductible share-based payments (44.2) (81.3) (78.9) Non-deductible (loss)/gain on fair value of financial instruments (890.3) (571.1) 136.9 Non-taxable gain on foreign exchange differences 3.1 - 250.3 Non-taxable share of results of equity-accounted investees 475.9 201.9 96.4 Non-taxable reversal of impairments/(non-deductible impairments) 33.5 (21.9) (123.2) Non-taxable gain on acquisition - 308.8 - Non-deductible transaction costs (49.5) (94.4) (110.0) Tax adjustment in respect of prior periods 133.1 12.4 51.4 Net other non-taxable income and non-deductible expenditure 257.7 533.5 121.0 Change in estimated deferred tax rate (54.0) 1,551.0 (1,295.2) Previously unrecognised deferred tax assets utilised/(not recognised) 4,446.8 (383.9) (377.2) Mining and income tax (4,858.2) 1,733.0 (1,083.8) Effective tax rate (75.4)% 1 The non-deductible finance expense for 31 December 2020 is presented net after the reversal of an uncertain income tax treatment amounting to R181.5 million. This represents the conclusion on the section 163(j) interest limitation provided for by the US PGM operations under IFRIC 23 Uncertainty over Income Tax Treatments as at 31 December 2019
Schedule of deferred tax	Figures in million - SA rand Notes Included in the statement of financial position as follows: Deferred tax assets (1,576.4) (288.9) (76.9) Deferred tax liabilities 7,631.0 6,656.8 10,153.2 Net deferred tax liabilities 6,054.6 6,367.9 10,076.3 Reconciliation of the deferred tax balance: Balance at beginning of the year 6,367.9 10,076.3 8,319.0 Deferred tax recognised in profit or loss (516.1) (3,581.7) 988.5 Deferred tax recognised in other comprehensive income 6.4 - (22.8) Deferred tax on acquisition of subsidiaries - - 132.2 Foreign currency translation 196.4 (126.7) 659.4 Balance at end of the year 6,054.6 6,367.9 10,076.3
Schedule of components of net deferred tax liabilities	Figures in million - SA rand Deferred tax liabilities Mining assets 11,910.3 9,759.5 11,344.4 Environmental rehabilitation obligation funds 962.2 682.3 507.7 Other 206.7 208.7 284.7 Gross deferred tax liabilities 1 13,079.2 10,650.5 12,136.8 Deferred tax assets Environmental rehabilitation obligation (1,704.0) (1,109.2) (989.2) Occupational healthcare obligation (274.8) (333.3) (302.7) Other provisions (1,144.4) (482.4) (442.8) Financial instruments (426.8) (1,351.3) - Tax losses and unredeemed capital expenditure (3,436.7) (990.3) (304.5) Share-based payment obligation (37.9) (16.1) (21.3) Gross deferred tax assets 2,3 (7,024.6) (4,282.6) (2,060.5) Net deferred tax liabilities 6,054.6 6,367.9 10,076.3 1 The aggregate amount of temporary differences associated with investments in subsidiaries, for which no deferred tax liabilities have been recognised under the IAS 12.39 exemption at 31 December 2020, amounts to R25,955.0 million (2019: R12,075.0 million and 2018: R7,897.0 million) 2 Historically, deferred tax assets in WPL and EPL were only recognised to the extent of deferred tax liabilities since it was not considered probable that taxable profit would be available against which the future tax deductions could be utilised. At 31 December 2020, management recognised deferred tax assets on WPL and EPL in excess of deferred tax liabilities for the first time since it became probable that sufficient future taxable profits will be available. In total, net deferred tax assets of R951.0 million was recognised at 31 December 2020. The deferred tax asset recognition is supported by the profit history of WPL and EPL and a positive future taxable profit outlook 3 The amount of deductible temporary differences, unused tax losses as well as unredeemed capital expenditure for which no deferred tax asset is recognised in the statement of financial position, amounted to R36,408.0 million (2019: R46,220.2 million and 2018: R27,679.6 million). Tax losses are available to be utilised against income generated by the relevant tax entity and do not expire unless the tax entity concerned ceases to operate for a period of longer than one year for the South African operations. Under South African mining tax ring-fencing legislation, each tax entity is treated separately and as such these deductions can only be utilised by the tax entities in which the deductions have been generated. In Canada, tax losses expire after 20 years
Schedule of tax and royalties receivables and payables	Figures in million - SA rand Notes Included in the statement of financial position as follows: Tax receivable (148.0) (355.1) (483.2) Tax, carbon tax and royalties payable 796.3 508.9 88.0 Non-current portion of tax, carbon tax and royalties payable 8.6 59.1 - Current portion of tax, carbon tax and royalties payable 787.7 449.8 88.0 Net tax, carbon tax and royalties payable/(receivable) 648.3 153.8 (395.2) Reconciliation of the net tax, carbon tax and royalties payable/(receivable) balance: Balance at beginning of the year 153.8 (395.2) (147.9) Royalties, carbon tax and current tax 11.1, 11.2 7,144.5 2,292.6 307.9 Royalties and tax paid (6,524.6) (1,818.9) (542.2) Royalties paid (1,706.6) (411.5) (234.4) Tax paid (4,818.0) (1,407.4) (307.8) Tax payable on acquisition of subsidiaries - 68.7 4.4 Other - 18.6 - Foreign currency translation (125.4) (12.0) (17.4) Balance at end of the year 648.3 153.8 (395.2)

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings per share
Earnings per share	Basic earnings per share Basic earnings per share (EPS) is calculated by dividing the profit or loss attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year. Weighted average number of shares Ordinary shares in issue (’000) 2,923,571 2,670,030 2,266,261 Adjustment for weighting of ordinary shares in issue (’000) (194,680) (162,447) (2,404) Weighted average number of shares (’000) 2,728,891 2,507,583 2,263,857 Profit/(loss) attributable to owners of Sibanye-Stillwater (SA rand million) 29,311.9 62.1 (2,499.6) Basic EPS (cents) 1,074 2 (110) 12.2 Diluted earnings per share Diluted EPS is calculated by dividing the profit attributable to owners of Sibanye-Stillwater by the diluted number of ordinary shares in issue during the year. Dilutive shares are the number of potentially dilutive ordinary shares that could be issued as a result of share awards granted to employees under the equity-settled share-based payment schemes (refer to note 6). As at 31 December 2018, these were antidilutive. The US$ Convertible Bond was converted during October 2020 and was antidilutive for the years ended 31 December 2020, 2019 and 2018. Diluted weighted average number of shares Weighted average number of shares (’000) 2,728,891 2,507,583 2,263,857 Potential ordinary shares (’000) 49,061 71,371 - Diluted weighted average number of shares (’000) 2,777,952 2,578,954 2,263,857 Diluted basic EPS (cents) 1,055 2 (110)
Headline earnings per share	Headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the weighted average number of ordinary shares in issue during the year. Reconciliation of profit/(loss) attributable to owners of Sibanye-Stillwater to headline earnings: Figures in million - SA rand Notes Gross Net of tax 2020 Profit attributable to owners of Sibanye-Stillwater 29,311.9 Gain on disposal of property, plant and equipment (98.8) (74.0) Reversal of impairments (121.4) (121.5) Derecognition of property, plant and equipment in Marathon project 37.0 28.0 Re-measurement items, attributable to non-controlling interest 1.1 Headline earnings 29,145.5 Headline EPS (cents) 1,068 2019 Profit attributable to owners of Sibanye-Stillwater 62.1 Gain on disposal of property, plant and equipment (76.6) (57.9) Impairments 86.0 66.6 Impairment of equity accounted associate 21.0 21.0 Gain on acquisition (1,103.0) (1,103.0) Re-measurement items, attributable to non-controlling interest 3.0 Headline earnings (1,008.2) Headline EPS (cents) (40) 2018 Loss attributable to owners of Sibanye-Stillwater (2,499.6) Gain on disposal of property, plant and equipment (60.2) (47.9) Impairments 3,041.4 2,530.9 Headline earnings (16.6) Headline EPS (cents) (1) 12.4 Diluted headline earnings per share Diluted headline EPS is calculated by dividing the headline earnings attributable to owners of Sibanye-Stillwater by the diluted weighted average number of ordinary shares in issue during the year. Diluted headline EPS (cents) 1,049 (40) (1)

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2020
Dividends
Schedule of Cash flows from dividends paid are classified under operating activities	Figures in million - SA rand Dividend declared and paid (interim) 1,338.1 - - Dividend declared after 31 December 2020 (final) 9,485.5 - - Total dividends declared 10,823.6 - - Dividend per share (interim) - cents 50 - - Dividend per share (final) - cents 321 - -
Schedule of Reconciliation of (loss)/profit attributable to the owners	Figures in million - SA rand Profit/(loss) attributable to the owners of Sibanye-Stillwater 29,311.9 62.1 (2,499.6) Adjusted for: Loss/(gain) on financial instruments 2,450.3 6,015.1 (1,704.1) Loss/(gain) on foreign exchange differences 255.0 (325.5) (1,169.1) Gain on disposal of property, plant and equipment (98.8) (76.6) (60.2) (Reversal of impairments)/impairments (121.4) 86.0 3,041.4 Gain on acquisition - (1,103.0) - Restructuring costs 436.2 1,252.4 142.8 Transaction costs 138.6 447.8 402.5 Gain on derecognition of borrowings and derivative financial instrument - - (230.0) Occupational healthcare expense 52.3 (39.6) 15.4 Loss on BTT early settlement 186.2 - - Income on settlement of legal dispute (580.0) - - Loss due to dilution of interest in joint operation 30.2 - - Loss on settlement of US$ Convertible Bond 1,506.7 - - Other - - 18.7 Change in estimated deferred tax rate 54.0 (1,551.0) 1,295.2 Share of results of equity-accounted investees after tax (1,699.8) (721.0) (344.2) Tax effect of the items adjusted above (1,277.3) (1,643.8) (345.7) Non-controlling interest effect of the items listed above (36.9) (42.7) - Normalised earnings 1 30,607.2 2,360.2 (1,436.9) 1 Non-IFRS measure such as normalised earnings is the responsibility of the Group’s Board of Directors and presented for illustration purposes only, and because of its nature, normalised earnings should not be considered as a representation of financial performance under IFRS

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
PROPERTY, PLANT AND EQUIPMENT
Schedule of carrying value of property, plant and equipment	Figures in million - SA rand Notes Total Mine Land, mineral Exploration 2020 Cost Balance at beginning of the year 107,285.1 82,046.6 23,209.5 2,029.0 Additions 1 9,711.7 9,656.1 14.2 41.4 Change in estimates of rehabilitation assets 2 (383.9) (108.2) (270.3) (5.4) Disposals (62.9) (42.5) (20.4) - Derecognition of property, plant and equipment 3 (1,968.3) (1,905.2) (63.1) - Transfers between classes of property, plant and equipment - (28.9) 28.9 - Transfers to right-of-use assets (1.7) (1.7) - - Assets derecognised on loss with dilution of interest in joint operation (37.0) (0.5) (0.7) (35.8) Foreign currency translation 1,411.1 478.1 923.6 9.4 Balance at end of the year 115,954.1 90,093.8 23,821.7 2,038.6 Accumulated depreciation, amortisation and impairment Balance at beginning of the year 49,804.9 43,877.5 4,302.6 1,624.8 Amortisation and depreciation 7,468.0 6,646.7 753.4 67.9 Impairment 0.5 - - 0.5 Disposals (60.4) (41.1) (19.3) - Derecognition of property, plant and equipment (1,968.3) (1,905.2) (63.1) - Depreciation capitalised to inventory 117.1 117.1 - - Foreign currency translation (7.7) (38.2) 24.3 6.2 Balance at end of the year 55,354.1 48,656.8 4,997.9 1,699.4 Carrying value at end of the year 60,600.0 41,437.0 18,823.8 339.2 1 During the year, amortisation and depreciation on assets used in the development of the Blitz project was capitalised. As a result, additions include non-cash additions (or amortisation and depreciation capitalised) of R96.1 million 2 Includes a decrease to the environmental rehabilitation obligation of R317.6 million, decrease to the right of recoverability liability of R40.3 million and an increase to the right of recoverability asset of R26.0 million 3 During the year, short-term ore reserve development, which was capitalised up to 31 December 2018 and fully depreciated by 2020, was derecognised as no future economic benefits are expected from its use Figures in million - SA rand Notes Total Mine Land, mineral Exploration 2019 Cost Balance at beginning of the year 99,994.6 72,811.2 25,095.3 2,088.1 Additions 1 7,803.0 7,790.9 0.4 11.7 Change in estimates of rehabilitation assets 2 101.0 (99.4) 200.4 - Disposals (281.8) (281.2) (0.6) - Derecognition of property, plant and equipment 3 (2,409.9) (695.0) (1,714.9) - Transfers between classes of property, plant and equipment - (94.9) 94.9 - Transfers to right-of-use assets (18.8) (18.8) - - Assets acquired on acquisition of subsidiaries 3,158.6 3,152.1 6.5 - Assets derecognised on loss of control of subsidiary (62.7) - - (62.7) Foreign currency translation (998.9) (518.3) (472.5) (8.1) Balance at end of the year 107,285.1 82,046.6 23,209.5 2,029.0 Accumulated depreciation, amortisation and impairment Balance at beginning of the year 45,436.4 38,576.2 5,276.4 1,583.8 Amortisation and depreciation 7,102.4 6,275.2 788.2 39.0 Impairment 5.1 - - 5.1 Disposals (257.4) (257.4) - - Derecognition of property, plant and equipment (2,409.9) (695.0) (1,714.9) - Transfers to right-of-use assets (15.5) (15.5) - - Depreciation capitalised to inventory 111.4 111.4 - - Foreign currency translation (167.6) (117.4) (47.1) (3.1) Balance at end of the year 49,804.9 43,877.5 4,302.6 1,624.8 Carrying value at end of the year 57,480.2 38,169.1 18,906.9 404.2 1 During the year, amortisation and depreciation on assets used in the development of the Blitz project was capitalised. As a result, additions include non-cash additions (or amortisation and depreciation capitalised) of R85.5 million 2 Includes an increase to the environmental rehabilitation obligation of R105.1 million, decrease to the right of recoverability liability of R11.1 million and a decrease to the right of recoverability asset of R7.0 million 3 During the year, short-term ore reserve development, which was capitalised up to 31 December 2017 and fully depreciated by 2019, was derecognised as no future economic benefits are expected from its use Figures in million - SA rand Notes Total Mine Land, mineral Exploration 2018 Cost Balance at beginning of the year 101,720.7 76,529.2 21,807.9 3,383.6 Additions 1 7,107.5 7,034.6 (0.5) 73.4 Change in estimates of rehabilitation assets 618.8 - 618.8 - Disposals (171.2) (168.1) (3.1) - Derecognition of property, plant and equipment 2 (14,416.4) (14,287.7) (128.7) - Transfers between classes of property, plant and equipment - 192.8 134.5 (327.3) Assets acquired on acquisition of subsidiaries 1,443.2 1,325.0 50.0 68.2 Assets derecognised on loss of control of subsidiary (1,322.3) (12.5) - (1,309.8) Foreign currency translation 5,014.3 2,197.9 2,616.4 200.0 Balance at end of the year 99,994.6 72,811.2 25,095.3 2,088.1 Accumulated depreciation, amortisation and impairment Balance at beginning of the year 50,276.1 44,308.9 4,471.0 1,496.2 Amortisation and depreciation 6,640.6 5,900.8 739.8 - Impairment 2,603.3 2,461.5 70.8 71.0 Disposals (77.2) (75.9) (1.3) - Derecognition of property, plant and equipment 2 (14,416.4) (14,287.7) (128.7) - Assets derecognised on loss of control of subsidiary (10.9) (10.9) - - Foreign currency translation 420.9 279.5 124.8 16.6 Balance at end of the year 45,436.4 38,576.2 5,276.4 1,583.8 Carrying value at end of the year 54,558.2 34,235.0 19,818.9 504.3 1 During the year, amortisation and depreciation on assets used in the development of the Burnstone project was capitalised. As a result, additions include non-cash additions (or amortisation and depreciation capitalised) of R26.8 million 2 During the year, short-term ore reserve development, which was capitalised up to 31 December 2016 and fully depreciated by 2018, was derecognised as no future economic benefits are expected from its use placehold

Right-of-use asset (Tables)

Right-of-use asset (Tables)	12 Months Ended
	Dec. 31, 2020
Right-of-use asset
Summary of right-of-use asset	Figures in million - SA rand Notes Balance at beginning of the year 360.9 - - Impact of adopting IFRS 16 on 1 January 2019 - 302.0 - Additions and modifications 65.6 43.6 - Right-of-use assets acquired on acquisition of subsidiaries (Lonmin acquisition) - 133.3 - Depreciation (124.4) (111.7) - Transfers and other movements (7.6) (5.7) - Foreign currency translation 1.1 (0.6) - Balance at end of the year 295.6 360.9 -

Acquisitions - (Tables)

Acquisitions - (Tables)	12 Months Ended
	Dec. 31, 2020
Lonmin Ltd
Disclosure of detailed information about business combination [line items]
Schedule of consideration paid for acquisition	Figures in million - SA rand Equity instruments (290,394,531 ordinary shares) 4,306.6 Total consideration 4,306.6
Schedule of identifiable assets acquired and liabilities assumed in acquisition	Figures in million - SA rand Notes Property, plant and equipment 3,158.6 Right-of-use assets 133.3 Other investments 320.8 Environmental rehabilitation obligation funds 443.2 Other non-current assets 395.0 Inventories 5,219.5 Trade and other receivables 925.3 Other current assets 14.6 Cash and cash equivalents 2,999.3 Lease liabilities (133.3) Environmental rehabilitation obligation and other provisions (1,696.9) Other non-current liabilities (863.0) Borrowings (2,574.8) Trade and other payables (2,585.7) Other current liabilities (99.3) Total fair value of identifiable net assets acquired 1 5,656.6 1 Fair value of assets and liabilities excluding property, plant and equipment, inventories, borrowings, non-current liabilities and environmental rehabilitation obligation approximate the carrying value The fair value of property, plant and equipment was based on the expected discounted cash flows of the expected ore reserves and costs to extract the ore discounted at a real discount rate of 13.5% for the Marikana operations, an average platinum price of US$1,025/oz and an average palladium price of US$1,170/oz The fair value of inventories was based on the estimated selling price less costs to complete and costs to sell The fair value of borrowings is based on the settlement price. The Group restructured the Lonmin group entities funding arrangements to optimise financing costs. The Lonmin Pangaea Investments Management Limited (PIM) prepayment arrangement of US$174.3 million was fully settled by cash on hand and available within the Lonmin group on 5 July 2019 The fair value of other non-current liabilities is calculated based on a discounted cash flows using an effective discount rate of 12.5% The fair value of environmental rehabilitation obligation is calculated with updated life of mines used in the discounted cash flows of property, plant and equipment
Schedule of gain on acquisition	Figures in million - SA rand Consideration 4,306.6 Fair value of identifiable net assets acquired (5,656.6) Non-controlling interest, based on the proportionate interest in the recognised amounts of assets and liabilities 1 247.0 Gain on acquisition (1,103.0) 1 The amount recognised as non-controlling interest represents the non-controlling interest holders’ effective proportionate share in the fair value of the identifiable net assets acquired
SFA Oxford Limited [Member]
Disclosure of detailed information about business combination [line items]
Schedule of goodwill arising from acquisition	Figures in million - SA rand Consideration 127.1 Fair value of identifiable net assets acquired (4.4) Goodwill 122.7
Qinisele Resources [Member]
Disclosure of detailed information about business combination [line items]
Schedule of goodwill arising from acquisition	Figures in million - SA rand Consideration 54.8 Fair value of identifiable net assets acquired (0.5) Goodwill 54.3
DRDGOLD Limited
Disclosure of detailed information about business combination [line items]
Schedule of identifiable assets acquired and liabilities assumed in acquisition	Figures in million – SA rand Notes Property, plant and equipment 1 1,443.2 Environmental rehabilitation obligation funds 244.7 Other non-current assets 28.7 Inventories 243.5 Trade and other receivables 138.4 Cash and cash equivalents 282.8 Environmental rehabilitation obligation and other provisions (672.7) Deferred tax liabilities (132.2) Other non-current liabilities (54.9) Trade and other payables (337.1) Other current liabilities (17.6) Total fair value of identifiable net assets acquired 1,166.8 1 The fair value of property, plant and equipment was based on the expected discounted cash flows of the expected ore reserves and costs to extract the ore discounted at a real discount rate of 9.3% and an average gold price of R580,000/kg
Schedule of goodwill arising from acquisition	Figures in million – SA rand Note Transaction with DRDGOLD shareholders (Consideration) 1 261.4 Fair value of identifiable net assets acquired (1,166.8) Non-controlling interest, based on the proportionate interest in the recognised amounts of assets and liabilities 2 940.3 Goodwill 34.9 1 The purchase consideration was calculated as 61.95% of the fair value of Far West Gold Recoveries assets and liabilities. The fair value of assets and liabilities, excluding property, plant and equipment, approximate the carrying value. The fair value of property, plant and equipment was based on the expected discounted cash flows of the expected ore reserves and costs to extract the ore discounted at a real discount rate of 13.8%, an average gold price of R580,000/kg. Although Sibanye-Stillwater exchanged (i.e. disposed) the Far West Gold Recoveries assets and liabilities, the Group effectively retains control. The transaction with DRDGOLD shareholders, therefore, represents the difference between 61.95% of the fair value and carrying value of Far West Gold Recoveries assets and liabilities 2 Non-controlling interest was based on the proportionate interest (of 61.95%) in the carrying value of the Far West Gold Recoveries assets and liabilities, and fair value of the DRDGOLD net assets and liabilities acquired

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2020
GOODWILL.
Schedule of changes in goodwill	Figures in million - SA rand Note Balance at beginning of the year 6,854.9 6,889.6 6,396.0 Impairment - (54.3) (436.3) Goodwill on acquisition of subsidiaries - 176.9 34.9 Foreign currency translation 310.3 (157.3) 895.0 Balance at end of the year 7,165.2 6,854.9 6,889.6
Schedule of estimates and assumptions used in calculation of impairment of goodwill	PGM operations Gold operations Long-term gold price R/kg R/4Eoz Long-term PGM (4E) basket price US$/2Eoz Long-term PGM (2E) basket price 18.8 - 19.7 % Nominal discount rate – South Africa 1 % 9.66 - 13.58 % Nominal discount rate – United States % Inflation rate – South Africa % % Inflation rate – United States 12 - 28 13 - 35 12 - 39 years Life of mine years 3 - 13 6 - 18 5 - 20 1 Nominal discount rate for the Burnstone project is 16.8% (2019: 17.1%, 2018: 17.4%) and for the equity accounted joint venture Mimosa, 28.4% (2019: 23.3%, 2018: 19.1%)

Equity accounted investments (T

Equity accounted investments (Tables)	12 Months Ended
	Dec. 31, 2020
EQUITY-ACCOUNTED INVESTMENTS
Schedule of components of equity method investments	Figures in million - SA rand Notes Rand Refinery 1 691.1 396.9 239.3 Mimosa 2 3,928.6 2,687.7 2,492.4 Peregrine 2 1,001.1 954.1 978.0 Other equity-accounted investments 0.2 0.1 24.2 Total equity-accounted investments 5,621.0 4,038.8 3,733.9 1 Associate 2 Joint venture
Peregrine Metals Ltd. [Member]
EQUITY-ACCOUNTED INVESTMENTS
Schedule of movement in equity method investments	Figures in million - SA rand Balance at the beginning of the year 954.1 978.0 - Equity-accounted investment retained on loss of control of subsidiary - - 956.0 Foreign currency translation 47.0 (23.9) 22.0 Balance at end of the year 1,001.1 954.1 978.0
Schedule of group's interest in summarised financial statements of joint venture	Figures in million - SA rand Non-current assets 1,541.3 1,472.4 1,714.6 Current assets 7.3 3.3 23.9 Non-current liabilities (381.6) (369.2) (342.6) Current liabilities (18.3) (1.4) (1.3) Net assets (100.0%) 1,148.7 1,105.1 1,394.6 Reconciliation of the total investment in Peregrine with attributable net assets: Net assets (40%) 1 459.5 442.0 557.8 Reconciling items 2 541.6 512.1 420.2 Total investment in Peregrine 1,001.1 954.1 978.0 1 Disclosed on the basis that Aldebaran will successfully complete their earn-in obligation in terms of the agreement as described above 2 The reconciling items include the difference between the carrying amount and fair value of the Peregrine’s identifiable assets and liabilities on acquisition less accumulated amortisation, and foreign exchange differences on translation of assets and liabilities of the foreign equity-accounted investment
Mimosa
EQUITY-ACCOUNTED INVESTMENTS
Schedule of movement in equity method investments	Figures in million - SA rand Balance at the beginning of the year 2,687.7 2,492.4 2,012.9 Share of results of equity-accounted investee after tax 1,299.7 377.1 210.5 Dividends received (103.2) (111.0) (87.0) Foreign currency translation 44.4 (70.8) 356.0 Balance at end of the year 3,928.6 2,687.7 2,492.4
Schedule of group's interest in summarised financial statements of associate	Figures in million - SA rand Revenue 7,789.0 4,685.2 3,714.9 Amortisation and depreciation (562.9) (437.4) (383.1) Interest income 7.9 4.5 - Finance expense (28.1) (43.5) (26.0) Income and royalty tax (1,254.6) (436.4) (381.8) Income tax (984.2) (282.3) (266.6) Royalty tax (270.4) (154.1) (115.2) Profit or loss 2,599.4 754.2 420.9 Other comprehensive income 88.9 (141.3) 712.0 Total comprehensive income 2,688.3 612.9 1,132.9 Non-current assets 5,178.0 4,723.9 4,592.3 Property, plant and equipment 2 5,178.0 4,704.8 4,592.3 Right-of-use assets - 19.1 - Current assets 4,635.1 2,535.1 2,047.9 Cash and cash equivalents 469.0 27.9 184.8 Other current assets 4,166.1 2,507.2 1,863.1 Non-current liabilities (1,304.6) (1,235.4) (1,168.1) Non-current financial liabilities 1 (12.2) (128.7) (60.7) Other non-current liabilities (1,292.4) (1,106.7) (1,107.4) Current liabilities (556.3) (553.0) (384.6) Current financial liabilities 1 (476.0) (446.5) (377.7) Other current liabilities (80.3) (106.5) (6.9) Net assets (100.0%) 7,952.2 5,470.6 5,087.5 Reconciliation of the total investment in Mimosa with attributable net assets: Net assets (50.0%) 3,976.1 2,735.3 2,543.8 Reconciling items 2 (47.5) (47.6) (51.4) Total investment in Mimosa 3,928.6 2,687.7 2,492.4 1 Non-current and current financial liabilities (excluding trade and other payables and provisions) amounted to R12.2 million (2019: R128.7 million, 2018: R60.7 million) and R52.6 million (2019: R32.0 million, 2018: R4.0 million), respectively 2 The reconciling items include the difference between the carrying amount and fair value of the Mimosa’s identifiable assets and liabilities on acquisition less accumulated amortisation, and foreign exchange differences on translation of assets and liabilities of the foreign joint venture
Rand Refinery
EQUITY-ACCOUNTED INVESTMENTS
Schedule of movement in equity method investments	Figures in million - SA rand Balance at beginning of the year 396.9 239.3 198.4 Share of results of equity-accounted investee after tax 1 400.1 344.5 143.7 Dividends received (111.2) - - Preference shares redeemed (114.3) (186.9) (102.8) Reversal of impairment 119.6 - - Balance at end of the year 691.1 396.9 239.3 1 Rand Refinery is equity accounted based on its latest management accounts for the period ended 30 November, since Rand Refinery has a 31 August year-end
Schedule of group's interest in summarised financial statements of associate	Figures in million - SA rand Revenue 1,131.0 811.0 644.0 Total comprehensive income 903.0 777.0 434.0 Non-current assets 724.0 667.0 699.0 Current assets 2,079.0 1,433.0 1,088.0 Non-current liabilities (56.0) (111.0) (44.0) Current liabilities (462.0) (104.0) (359.0) Net assets (100.0%) 2,285.0 1,885.0 1,384.0 Reconciliation of the total investment in Rand Refinery with attributable net assets: Net assets (44.4%) 1,015.7 836.9 614.5 Preference shares redeemed (114.3) (186.9) (102.8) Dividend received (111.2) (8.2) (8.2) Fair value adjustment 1 (35.5) (35.5) (35.5) Impairment - (119.6) (119.6) Redeemable preference shares below 44.4% interest 2 - 14.5 35.9 Reconciling items 3 (63.6) (104.3) (145.0) Total investment in Rand Refinery 691.1 396.9 239.3 1 The investment in equity-accounted investee was fair valued at 1 July 2002, the date when significant influence was obtained 2 Sibanye-Stillwater took up 37.4% of the Facility, which is less than its current proportional interest in Rand Refinery. Rand Refinery converted the Facility into redeemable preference shares, classified within equity, and therefore Sibanye-Stillwater shares in less than its current 44.4% proportional interest of the net asset value of Rand Refinery 3 Reconciling items relate to adjustments on consolidation of DRDGOLD’s interest in Rand Refinery

INTERESTS IN JOINT OPERATIONS (

INTERESTS IN JOINT OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2020
INTERESTS IN JOINT OPERATIONS
Schedule of joint operations	Figures in million - SA rand (Loss)/gain on foreign exchange differences (16.4) (63.2) 132.7 Profit before tax 4,814.5 2,061.6 677.7 Profit for the year 4,814.3 2,061.4 677.7 Non-current assets 799.7 945.7 1,115.7 Current assets 3,894.5 2,303.0 1,828.2 Non-current liabilities (7.4) - - Current liabilities (436.3) (353.1) (271.3) Net assets (50.0%) 4,250.5 2,895.6 2,672.6

Other investments (Tables)

Other investments (Tables)	12 Months Ended
	Dec. 31, 2020
Other investments
Schedule of other investments	Figures in million - SA rand Rand Mutual Assurance Company Limited 158.2 112.4 67.8 Furuya Metals Company Limited 343.1 303.1 - Aldebaran Resources Inc. 97.8 78.2 81.5 Generation Mining Limited 100.7 33.3 - Other 147.2 71.7 6.7 Total other investments 847.0 598.7 156.0

Environmental rehabilitation _3

Environmental rehabilitation obligation fund (Tables)	12 Months Ended
	Dec. 31, 2020
ENVIRONMENTAL REHABILITATION OBLIGATION FUNDS
Schedule of the environment rehabilitation obligation funds	Figures in million - SA rand Notes Balance at beginning of the year 4,602.2 3,998.7 3,492.4 Contributions made 63.6 12.9 63.0 Payments received (7.4) (151.9) - Interest income 245.1 265.5 223.5 Fair value gain/(loss) 1 30.5 33.8 (24.9) Environmental rehabilitation obligation funds on acquisition of subsidiaries - 443.2 244.7 Balance at end of the year 4,934.0 4,602.2 3,998.7 Environmental rehabilitation obligation funds comprise of the following: Restricted cash 2 702.9 610.0 633.9 Funds 4,231.1 3,992.2 3,364.8 1 The environmental rehabilitation trust fund includes equity-linked investments that are fair valued at each reporting date 2 The funds are set aside to serve as collateral against the guarantees made to the Department of Minerals and Resources for environmental rehabilitation obligations

Other receivables and other p_2

Other receivables and other payables (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about business combination [line items]
Schedule of other receivables	Figures in million - SA rand Right of recovery receivable 340.2 186.8 176.8 Rates and taxes receivable 105.1 103.0 106.2 Pre-paid royalties 364.1 392.8 - Other 48.7 52.1 66.6 Total other receivables 858.1 734.7 349.6 Reconciliation of the non-current and current portion of the other receivables: Other receivables 858.1 734.7 349.6 Current portion of other receivables (36.8) (51.2) (35.2) Non-current portion of other receivables 821.3 683.5 314.4
Schedule of other payables	Figures in million - SA rand Deferred Payment (related to Rustenburg operations acquisition) 4,354.4 2,825.6 2,205.9 Contingent consideration (related to SFA (Oxford) acquisition) 88.2 55.8 - Right of recovery payable 39.5 79.4 83.2 Deferred consideration (related to Pandora acquisition) 307.8 275.9 - Dissenting shareholder liability - - 287.1 Other 366.7 212.2 256.3 Total other payables 5,156.6 3,448.9 2,832.5 Reconciliation of the non-current and current portion of the other payables: Other payables 5,156.6 3,448.9 2,832.5 Current portion of other payables (2,245.9) (761.4) (303.3) Non-current portion of other payables 2,910.7 2,687.5 2,529.2
Schedule of dissenting shareholder liability	Figures in million - SA rand Note Balance at the beginning of the year - 287.1 1,349.7 Interest charge - 21.2 68.1 Payments to dissenting shareholders - (319.4) (1,375.8) Dissenting shareholder liability on acquisition of subsidiary - - - Foreign currency translation reserve - 11.1 245.1 Balance at end of the year - - 287.1
Pandora Acquisition By Lonmin [Member]
Disclosure of detailed information about business combination [line items]
Schedule of deferred payment/consideration	Figures in million - SA rand Note Balance at the beginning of the year 275.9 - - Deferred consideration on acquisition of subsidiary - 235.4 - Interest charge 49.1 40.5 - Payment made (17.2) - - Balance at end of the year 307.8 275.9 -
Rustenburg Operations Acquisition
Disclosure of detailed information about business combination [line items]
Schedule of deferred payment/consideration	Figures in million - SA rand Note Balance at the beginning of the year 2,825.6 2,205.9 2,194.7 Interest charge 186.8 179.0 200.4 Payment of Deferred Payment (739.0) (283.4) (38.6) Loss/(gain) on revised estimated cash flows 1 2,081.0 724.1 (150.6) Balance at end of the year 4,354.4 2,825.6 2,205.9 1 The loss on revised estimated cash flows is primarily as a result of an increase in the forecasted Rand PGM basket price used to estimate the future cash flows

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2020
INVENTORIES
Schedule of inventories	Figures in million - SA rand Consumable stores 1 1,626.8 1,580.8 1,043.5 PGM ore and mill inventory 141.7 127.7 71.0 PGM in process 2 13,742.4 10,496.9 3,251.7 Gold in process 616.5 309.7 143.3 PGM finished goods 8,709.9 2,958.7 777.8 Other 115.1 29.6 7.5 Total inventories 24,952.4 15,503.4 5,294.8 1 The cost of consumable stores consumed during the year and included in operating cost amounted to R16,404.0 million (2019: R12,784.3 million and 2018: R9,327.9 million) 2 Included in PGM in process, is R4,224.5 million (2019: R3,826.5 million) relating to the Marikana operations. It also includes R3,846.6 million (2019: R4,182.4 million) relating to SRPM operations due to the processing agreements between SRPM and Anglo American Platinum Limited changing from a purchase of concentrate arrangement to a toll processing arrangement from 1 January 2019

TRADE AND OTHER RECEIVABLES (Ta

TRADE AND OTHER RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2020
TRADE AND OTHER RECEIVABLES
Schedule of trade and other receivables	Figures in million - SA rand Trade receivables - gold sales 42.0 - 433.8 Trade receivables - PGM sales 4,655.3 2,681.1 5,310.1 PGM sales concentrate 4,030.0 2,341.6 5,310.1 PGM sales other 625.3 339.5 - Other trade receivables 1,020.6 889.0 436.6 Payroll debtors 268.2 251.5 127.9 Interest receivable 56.5 14.6 8.9 Financial assets 6,042.6 3,836.2 6,317.3 Prepayments 368.8 442.9 296.9 Value added tax 454.2 355.9 218.8 Total trade and other receivables 6,865.6 4,635.0 6,833.0

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	12 Months Ended
	Dec. 31, 2020
CASH AND CASH EQUIVALENTS.
Schedule of cash and cash equivalents	Figures in million - SA rand Cash at the bank and on hand 20,239.8 5,619.0 2,549.1 Total cash and cash equivalents 20,239.8 5,619.0 2,549.1

STATED SHARE CAPITAL (Tables)

STATED SHARE CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2020
STATED SHARE CAPITAL.
Schedule of shares authorized and issued	Company SGL Figures in thousand Authorised number of shares 10,000,000 Reconciliation of issued number of shares: Number of shares in issue at beginning of the year 1 -* 2,266,261 2,168,721 Scheme implemented 2 2,670,030 - - Shares issued under Sibanye-Stillwater/SGL Share Plan 3 6,932 4,442 10,394 Issued upon conversion of US$ Convertible Bond 4 248,040 - - Shares delisted (share buy-back) 5 (1,431) - - Shares issued for cash 6 - 108,932 - Shares issued with acquisition of subsidiary 7 - 290,395 - Capitalisation issue 8 - - 87,146 Number of shares in issue at end of the year 2,923,571 2,670,030 2,266,261 1 Since the Scheme was retrospectively implemented, the stated share capital presented in the consolidated statement of changes in equity reflects the legally issued shares of the Company from the earliest period presented, being one ordinary share at 31 December 2018 and 31 December 2019 2 From 1 January 2020 to 23 February 2020, shares of the listed entity presented for the Group were those of SGL. From 24 February 2020, these were exchanged for shares of Sibanye-Stillwater retrospectively presented for the Group in the consolidated statement of changes in equity. The Scheme was implemented on a share-for-share basis with no change in the total number of issued listed shares 3 Upon implementation of the Scheme, the SGL equity-settled share plan was transferred to the Company and is settled in the Company’s shares from the effective date onwards (refer note 6.1) 4 Refer note 28.5 5 The Group entered into a repurchase and cancellation of shares agreement with certain shareholders which resulted in the total issued shares of Sibanye-Stillwater decreasing by 1,431,197 shares 6 On 15 April 2019, Sibanye-Stillwater raised net capital of R1.7 billion from a placing of 108,932,356 new ordinary no par value shares to existing and new institutional investors 7 On 10 June 2019, 290,394,531 shares were issued to the shareholders of Lonmin Limited (refer note 16.1) 8 On 11 April 2018, 87,145,885 shares were issued with four capitalisation issue shares for every 100 existing share held * Less than one thousand
Rollforward of share capital and reorganisation reserve	SGL Scheme impact Reorgani- Company Amount Shares (thousand) Amount Amount Amount Shares Balance at 31 December 2017 -* -* Shares issued under SGL Share Plan - - - - - Capitalisation issue - - - - - Balance at 31 December 2018 -* -* Shares issued for cash - - Shares issued on Lonmin acquisition - - Shares issued under SGL Share Plan - - - - - Balance at 31 December 2019 -* -* Scheme implemented 1 Shares issued under Company Share Plan - - 6,932 Issued upon conversion of US$ Convertible Bond 2 - Shares delisted (share buy-back) - Balance at 31 December 2020 1 The stated share capital value of the Company on Scheme implementation amounts to the net asset value of the unconsolidated SGL company on the effective date of the Scheme. The reorganisation reserve is the balance between the previously presented stated share capital and the revised stated share capital value of the Company. There was no change in the issued share capital of the SGL Group from 31 December 2019 to the effective date of the Scheme 2 Refer note 28.5 * Less than R0.1 million or one thousand shares as indicated

NON-CONTROLLING INTERESTS (Tabl

NON-CONTROLLING INTERESTS (Tables)	12 Months Ended
	Dec. 31, 2020
NON-CONTROLLING INTERESTS
Schedule of subsidiaries related to non-controlling interests	Figures in million - SA rand Non-controlling interest of DRDGOLD 1,223.8 1,135.2 913.2 Non-controlling interest of Platinum Mile 36.6 21.1 18.4 Non-controlling interests of Group Technical Security Management 4.8 5.4 4.4 Non-controlling interests of Marikana 1 970.5 306.0 - Total non-controlling interests 2,235.7 1,467.7 936.0 1 Included in Marikana’s NCI is NCI of WPL amounting to R689.5 million (2019: R253.3 million)
Schedule of summarised financial information of subsidiary groups	Figures in million - SA rand DRDGOLD Limited Revenue 5,051.0 3,621.0 1,047.5 Profit for the year 1,254.5 460.2 (39.9) Total comprehensive income 1,485.1 459.1 (43.8) Profit attributable to NCI 619.2 285.1 (24.7) Net increase/(decrease) in cash and cash equivalents 1,626.0 334.0 (73.4) Dividends paid 358.7 85.0 - Non-current assets 3,620.3 3,393.1 3,581.9 Current Assets 2,671.2 972.2 591.0 Non-current liabilities (1,055.3) (1,108.6) (1,275.6) Current liabilities (592.5) (463.3) (425.2) Net assets 4,643.7 2,793.5 2,472.1 Western Platinum Proprietary Limited Revenue 26,781.2 11,124.5 - Profit for the year 7,239.3 763.7 - Total comprehensive income 7,250.9 763.7 - Profit attributable to NCI 444.4 17.0 - Net decrease in cash and cash equivalents 6,249.4 (2,070.2) - Dividends paid - - - Non-current assets 5,094.3 7,749.5 - Current Assets 14,737.2 6,832.0 - Non-current liabilities (20,737.6) (22,462.3) - Current liabilities (2,625.9) (2,201.7) - Net assets (3,532.0) (10,082.6) -

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Schedule of the summary of borrowings	Figures in million - SA rand Notes US$600 million RCF 6,977.7 5,711.9 2,726.5 R6.0 billion RCF - - 5,896.4 R5.5 billion RCF - 2,500.0 - 2022 and 2025 Notes 10,135.7 9,609.8 9,808.7 US$ Convertible Bond - 4,578.6 4,496.6 Burnstone Debt 1,263.3 1,330.4 1,145.1 Other borrowings - - 425.6 Franco-Nevada liability 2.1 2.0 2.0 Stillwater Convertible Debentures 3.8 3.5 3.8 Total borrowings 18,382.6 23,736.2 24,504.7 Reconciliation of the non-current and current portion of the borrowings: Borrowings 18,382.6 23,736.2 24,504.7 Current portion of borrowings (885.6) (38.3) (6,188.2) Non-current portion of borrowings 17,497.0 23,697.9 18,316.5
Schedule of non-current portion of derivative financial instruments	Figures in million - SA rand Note Reconciliation of the non-current and current portion of the derivative financial instrument: Derivative financial instrument - 4,144.9 408.9 Non-current portion of derivative financial instrument - 4,144.9 408.9
Schedule of the rollforward of borrowings	Figures in million - SA rand Notes Balance at beginning of the year 23,736.2 24,504.7 25,649.5 Borrowings acquired on acquisition of subsidiary - 2,574.8 - Loans raised 16,289.2 18,981.7 17,130.2 Loans repaid (18,335.1) (22,008.3) (21,231.5) US$ Convertible Bond converted into shares (5,578.2) - - Unwinding of loans recognised at amortised cost 393.2 374.4 538.3 Accrued interest (related to the 2022 and 2025 Notes, and US$ Convertible Bond) 857.7 769.9 942.5 Accrued interest paid (866.3) (777.7) (907.2) Gain on derecognition of borrowings - - (179.7) (Gain)/loss on the revised cash flow of the Burnstone Debt (264.3) 96.6 (804.6) Loss/(gain) on foreign exchange differences and foreign currency translation 2,150.2 (779.9) 3,367.2 Balance at end of the year 18,382.6 23,736.2 24,504.7
Schedule of details relating to settlement of bonds	Number of shares issued ('thousands) 248,040.0 Number of bonds settled 1,916.0 Fair value of Company shares issued ('millions) 12,573.2 Range of VWAPs on settlement (ZAR) 46.5 - 51.5 Cash redemption amount ('millions) 13.2 Derivative element settlement value ('millions) 6,995.0 Bond element settlement value ('millions) 5,578.2
Schedule of fair value of borrowings	Carrying value Fair value Figures in million - SA rand Level 1 Level 2 Level 3 31 December 2020 2022 and 2025 Notes 1 10,135.7 10,637.0 - - Burnstone Debt 2 1,263.3 - - 2,075.3 Total 11,399.0 10,637.0 - 2,075.3 31 December 2019 2022 and 2025 Notes 1 9,609.8 10,138.4 - - US$ Convertible Bond 3 4,578.6 - 4,724.5 - Burnstone Debt 2 1,330.4 - - 1,441.0 Total 15,518.8 10,138.4 4,724.5 1,441.0 31 December 2018 2022 and 2025 Notes 1 9,808.7 9,312.0 - - US$ Convertible Bond 3 4,496.6 - 3,736.1 - Burnstone Debt 2 1,145.1 - - 1,075.6 Total 15,450.4 9,312.0 3,736.1 1,075.6 1 The fair value is based on the quoted market prices of the notes 2 The fair value of the Burnstone Debt has been derived from discounted cash flow models. These models use several key assumptions, including estimates of future sales volumes, gold prices, operating costs, capital expenditure and discount rate. The fair value estimate is sensitive to changes in the key assumptions, for example, increases in the market related discount rate would decrease the fair value if all other inputs remain unchanged. The extent of the fair value changes would depend on how inputs change in relation to each other 3 The fair value of the amortised cost component of the US$ Convertible Bond is based on the quoted price of the instrument after separating the fair value of the derivative component
Schedule of liquidity risk	Figures in million - SA rand Total Within one Between After five years 31 December 2020 Other payables 5,088.8 2,307.5 2,723.3 58.0 Trade and other payables 8,523.8 8,523.8 - - Borrowings - Capital US$600 million RCF 6,977.7 872.6 6,105.1 - 2022 and 2025 Notes 10,291.9 - 10,291.9 - Burnstone Debt 114.3 - 11.7 102.6 Franco-Nevada liability 2.1 2.1 - - Stillwater Convertible Debentures 3.8 3.8 - - - Interest 6,680.6 809.5 1,563.5 4,307.6 Total 37,683.0 12,519.3 20,695.5 4,468.2 31 December 2019 Other payables 3,808.6 775.4 2,918.6 114.6 Trade and other payables 7,739.5 7,739.5 - - Borrowings - Capital US$600 million RCF 5,711.9 - 5,711.9 - R6.0 billion RCF 2,500.0 - 2,500.0 - 2022 and 2025 Notes 9,808.4 - 4,951.8 4,856.6 US$ Convertible Bond 5,376.0 - 5,376.0 - Burnstone Debt 109.0 - 109.0 - Franco-Nevada liability 2.0 2.0 - - Stillwater Convertible Debentures 3.5 3.5 - - - Interest 7,820.8 1,184.2 2,698.3 3,938.3 Total 42,879.7 9,704.6 24,265.6 8,909.5 31 December 2018 Other payables 3,386.8 293.3 1,968.9 1,124.6 Trade and other payables 5,159.9 5,159.9 - - Borrowings - Capital US$600 million RCF 2,726.5 - 2,726.5 - R6.0 billion RCF 5,896.4 5,896.4 - - 2022 and 2025 Notes 10,053.6 - 5,075.6 4,978.0 US$ Convertible Bond 5,510.4 - 5,510.4 - Burnstone Debt 2,552.9 - - 2,552.9 Franco-Nevada liability 2.0 2.0 - - Stillwater Convertible Debentures 3.8 3.8 - - Other borrowings 252.3 252.3 - - - Interest 9,386.9 1,543.8 3,568.6 4,274.5 Total 44,931.5 13,151.5 18,850.0 12,930.0
Schedule of interest rate sensitivity analysis	Change in interest expenses for a change in interest rate 1 Figures in million - SA rand (1.5)% (1.0)% (0.5)% 31 December 2020 - JIBAR - - - - - - - LIBOR 122.4 81.6 40.8 (40.8) (81.6) (122.4) Change in finance expense 122.4 81.6 40.8 (40.8) (81.6) (122.4) 31 December 2019 - JIBAR 37.5 25.0 12.5 (12.5) (25.0) (37.5) - LIBOR 105.6 70.4 35.2 (35.2) (70.4) (105.6) Change in finance expense 143.1 95.4 47.7 (47.7) (95.4) (143.1) 31 December 2018 - JIBAR 88.5 59.0 29.5 (29.5) (59.0) (88.5) - LIBOR 79.2 52.8 26.4 (26.4) (52.8) (79.2) Change in finance expense 167.7 111.8 55.9 (55.9) (111.8) (167.7) 1 Interest rate sensitivity analysis is performed on the borrowings balance at 31 December
Schedule of the exposure to interest rate changes and the contractual repricing dates	Figures in million - SA rand Floating rate with exposure to change in JIBAR - 2,500.0 6,322.0 Floating rate with exposure to change in LIBOR 8,157.5 7,042.3 3,871.6 Non-current borrowings exposed to interest rate changes 8,157.5 9,542.3 10,193.6 The Group has the following undrawn borrowing facilities: Committed 7,336.3 5,688.0 5,987.1 Uncommitted 2,459.7 1,050.0 757.7 Total undrawn facilities 9,796.0 6,738.0 6,744.8 All of the above facilities have floating rates. The undrawn committed facilities have the following expiry dates: - within one year 229.2 - 103.6 - later than one year and not later than two years 229.2 672.0 - - later than two years and not later than three years 6,877.9 5,016.0 5,883.5 Total undrawn committed facilities 7,336.3 5,688.0 5,987.1
Schedule of the calculation of net debt to adjusted EBITDA ratio	Figures in million - SA rand Borrowings 1 17,119.3 26,550.7 23,768.5 Cash and cash equivalents 2 20,205.9 5,586.3 2,499.4 Net (cash)/debt 3 (3,086.6) 20,964.4 21,269.1 Adjusted EBITDA 4 49,384.9 14,956.0 8,369.4 Net (cash)/debt to adjusted EBITDA (ratio) 5 (0.1) 1.4 2.5 1 Borrowings are only those borrowings that have recourse to Sibanye-Stillwater. Borrowings, therefore, exclude the Burnstone Debt and include the derivative financial instrument up to the settlement of the US$ Convertible Bond 2 Cash and cash equivalents exclude cash of Burnstone 3 Net (cash)/debt represents borrowings and bank overdraft less cash and cash equivalents. Borrowings are only those borrowings that have recourse to Sibanye-Stillwater and, therefore, exclude the Burnstone Debt and include the derivative financial instrument up to the settlement of the US$ Convertible Bond. Net (cash)/debt excludes cash of Burnstone 4 The adjusted EBITDA calculation is based on the definitions included in the facility agreements for compliance with the debt covenant formula, except for impact of new accounting standards and acquisitions, where the facility agreements allow the results from the acquired operations to be annualised. Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Adjusted EBITDA is not a measure of performance under IFRS and should be considered in addition to, and not as a substitute for, other measures of financial performance and liquidity 5 Net (cash)/debt to adjusted EBITDA ratio is defined as net (cash)/debt as of the end of a reporting period divided by adjusted EBITDA of the 12 months ended on the same reporting date. Non-IFRS measure such as net (cash)/debt to adjusted EBITDA is the responsibility of the Group's Board of Directors and is presented for illustration purposes only, and because of its nature, net (cash)/ debt to adjusted EBITDA should not be considered as a representation of financial performance under IFRS
Schedule of reconciliation of (loss)/profit before royalties and tax to adjusted EBITDA	Figures in million - SA rand Profit/(loss) before royalties, carbon tax and tax 37,250.0 (856.3) (1,224.3) Adjusted for: Amortisation and depreciation 7,592.4 7,214.1 6,613.8 Interest income (1,065.4) (560.4) (482.1) Finance expense 3,151.8 3,302.5 3,134.7 Share-based payments 512.4 363.3 299.4 Loss/(gain) on financial instruments 2,450.3 6,015.1 (1,704.1) Loss/(gain) on foreign exchange differences 255.0 (325.5) (1,169.1) Share of results of equity-accounted investees after tax (1,699.8) (721.0) (344.2) Change in estimate of environmental rehabilitation obligation, (464.1) 88.9 (66.6) Gain on disposal of property, plant and equipment (98.8) (76.6) (60.2) (Reversal of impairments)/impairments (121.4) 86.0 3,041.4 Gain on derecognition of borrowing and derivative financial instrument - - (230.0) Gain on acquisition - (1,103.0) - Loss on BTT early settlement 186.2 - - Restructuring costs 436.2 1,252.4 142.8 Transaction costs 138.6 447.8 402.5 Loss on settlement of US$ Convertible Bond 1,506.7 - - Loss due to dilution of interest in joint operation 30.2 - - Income on settlement of dispute (580.0) - - IFRS 16 lease payments (147.7) (131.7) - Occupational healthcare expense 52.3 (39.6) 15.4 Adjusted EBITDA 49,384.9 14,956.0 8,369.4
US$600 million RCF
Disclosure of detailed information about borrowings [line items]
Schedule of the summary of borrowings	Terms of the US$600 million RCF Facility: US$600 million Interest rate: LIBOR Interest rate margin: 1.85% if net debt to adjusted EBITDA is equal to or less than 2.50x 2.00% if net debt to adjusted EBITDA is greater than 2.50x Utilisation fee: Where the total outstanding loans under the RCF fall within the range of the percentage of the total loan as set out below, Sibanye-Stillwater shall pay an utilisation fee equal to the percentage per annum set out opposite such percentage range . % of the total loans Less than or equal to 33⅓% Greater than 33⅓% and less than or equal to 66⅔% Greater than 66⅔% Term of facility: Three years, subject to 2 one-year extensions at the lenders option. As at 31 December 2020, US$525 million of the facility lenders (i.e. seven of the eight lenders) have exercised the first one year extension option, and US$450 million of the facility lenders (i.e. six of the eight lenders) have exercised the second one year extension option. Borrowers: SGL, Stillwater, Kroondal, SRPM and WPL. Security and/or guarantors: The facility is unsecured and guaranteed by the Company, SGL, Stillwater, Kroondal, SRPM and WPL.
Schedule of the rollforward of borrowings	Figures in million - SA rand Balance at beginning of the year 5,711.9 2,726.5 - Loans raised 7,218.1 9,067.1 5,391.6 Loans repaid (6,802.2) (5,826.2) (2,744.7) Loss on foreign exchange differences - 6.4 73.1 Loss/(gain) on foreign exchange differences 849.9 (261.9) 6.5 Balance at end of the year 6,977.7 5,711.9 2,726.5
R6.0 billion revolving credit facility
Disclosure of detailed information about borrowings [line items]
Schedule of the summary of borrowings	Terms of the R6.0 billion RCF Facility: R6.0 billion Interest rate: JIBAR Interest rate margin: During the Covenant adjustment period, being 30 June 2017 to 31 December 2019, the margin will be based on the following net debt to adjusted EBITDA ratios: Net debt to adjusted EBITDA ratios Margin % 0.00:1 – 3.00:1 3.00:1 – 3.25:1 3.25:1 – 3.50:1 After the covenant adjustment period the margin will return to 2.4% Term of facility: Three years Borrowers: SGL, SRPM and Kroondal Security and/or guarantors: The facility was unsecured and guaranteed by SGL, Stillwater, SRPM and Kroondal.
Schedule of the rollforward of borrowings	Figures in million - SA rand Balance at beginning of the year - 5,896.4 5,536.4 Loans raised - 1,150.0 360.0 Loans repaid - (5,046.4) - Inter Bank transfer - (2,000.0) - Balance at end of the year - - 5,896.4
R5.5 billion RCF
Disclosure of detailed information about borrowings [line items]
Schedule of the summary of borrowings	Terms of the R5.5 billion RCF Facility: R5.5 billion Interest rate: JIBAR Interest rate margin: 2.40% if net debt to adjusted EBITDA is equal to or less than 2.00x 2.60% if net debt to adjusted EBITDA is greater than 2.00x Term of facility: Three years, subject to two one-year extensions at the lenders option. All facility lenders have approved the first extension with the loan facility now maturing on 11 November 2023. Borrowers: SGL, Kroondal, SRPM and WPL. Security and/or guarantors: The facility is unsecured and guaranteed by the Company, SGL, Stillwater, Kroondal, SRPM and WPL.
Schedule of the rollforward of borrowings	Figures in million - SA rand Balance at beginning of the year 2,500.0 - - Loans raised 5,000.0 500.0 - Loans repaid (7,500.0) - - Inter Bank transfer - 2,000.0 Balance at end of the year - 2,500.0 -
2022 and 2025 Notes
Disclosure of detailed information about borrowings [line items]
Schedule of the summary of borrowings	Terms of the 2022 and 2025 Notes Facility: US$500 million 6.125% Senior Notes due 2022 (the 2022 Notes) US$550 million 7.125% Senior Notes due 2025 (the 2025 Notes) Outstanding nominal value: 2022 Notes: US$353.7 million 2025 Notes: US$346.9 million Interest rate: 2022 Notes: 6.125% 2025 Notes: 7.125% Term of the Notes: 2022 Notes: Five years 2025 Notes: Eight years Issuer: Stillwater Guarantors: Each of the Notes are fully and unconditionally guaranteed, jointly and severally by the Guarantors (the Company, SGL, Kroondal, SRPM and WPL). The Guarantees rank equally in right of payment to all existing and future senior debt of the Guarantors.
Schedule of the rollforward of borrowings	Figures in million - SA rand Balance at beginning of the year 9,609.8 9,808.7 12,597.7 Loans raised - - - Loans repaid - - (5,107.4) Accrued interest paid (741.6) (672.2) (795.5) Interest charge 763.5 664.9 836.6 Unwinding of amortised cost 58.6 47.9 196.7 Gain on derecognition of borrowings - - (128.8) Loss/(gain) on foreign exchange differences 445.4 (239.5) 2,209.4 Balance at end of the year 10,135.7 9,609.8 9,808.7
US 450 Million Convertible Bond [Member]
Disclosure of detailed information about borrowings [line items]
Schedule of the summary of borrowings	Terms of the US$ Convertible Bond Issue size: US$450 million Outstanding nominal value: US$nil Coupon: 1.875% Maturity date: Original maturity date: 26 September 2023 (six years), early redemption finalised: 19 October 2020 Conversion premium: 35% Reference share price: US$1.2281, being the volume weighted average price of a share on the JSE from launch to pricing on 19 September 2017, converted at a fixed exchange rate. Initial conversion price: US$1.6580 Issuer: SGL Guarantors: The Company, Stillwater and Kroondal
Schedule of the rollforward of borrowings	Figures in million - SA rand Balance at beginning of the year 4,578.6 4,496.6 4,357.1 Loans repaid 1 (13.2) - (745.2) Loans converted into shares 2 (5,578.2) - - Accrued interest paid (124.7) (105.5) (111.7) Interest charge 94.2 105.0 105.9 Unwinding of amortised cost 186.8 196.8 185.8 Gain on derecognition of borrowings - - (50.9) Loss/(gain) on foreign exchange differences 856.5 (114.3) 755.6 Balance at end of the year - 4,578.6 4,496.6 1 The amount for the year ended 31 December 2020 relates to the redemption of Bonds for which no conversion notice was received. The amount for the year ended 31 December 2018 relates to the repurchase of a portion of the Bonds 2 Calculated as the amortised cost on the date of settlement
Schedule of roll forward of derivative financial instruments	Figures in million - SA rand Note Balance at beginning of the year 4,144.9 408.9 1,093.5 Loss/(gain) on financial instruments 1 70.2 3,911.5 (678.1) Settlement of derivative financial instrument (6,995.0) - - Loss on settlement of US$ Convertible Bond 2 1,506.7 - - Gain on derecognition of derivative financial instrument - - (50.3) Loss/(gain) on foreign exchange differences 1,273.2 (175.5) 43.8 Balance at end of the year - 4,144.9 408.9 1 The loss/(gain) on the financial instrument is attributable to changes in various valuation inputs, including in the movement in the Company’s share price, change in USD/ZAR exchange rate, bond market value and credit risk spreads 2 Relates to the difference between the fair value of the Company shares issued on date of settlement, carrying value of the derivative liability before settlement and the carrying value of the amortised cost element on date of settlement
Burnstone Debt
Disclosure of detailed information about borrowings [line items]
Schedule of the summary of borrowings	Facility: A1: US$0.2 million A2: US$7.8 million A3: US$51.0 million A4: US$119.1 million Interest rate: A1 and A2: Interest free A3 and A4: Interest free until 1 July 2017, then at LIBOR Interest rate margin: A3 and A4: 4% from 1 July 2017 Term of loan: No fixed term Repayment period: A1: Repaid on 1 July 2014 A2: From 1 July 2017 the first 50% of Burnstone’s free cash flow (as defined in the settlement agreement) will be used to repay the Wits Gold Loan and the balance of 50% to repay A2. A3 and A4: On settlement of A2, 90% of Burnstone’s free cash flow will be used to repay the Wits Gold Loan and the balance of 10% to repay the Burnstone Debt. On settlement of the Wits Gold Loan and interest, 30% of Burnstone’s free cash flow will be used to repay the Burnstone Debt and the balance will be distributed to Wits Gold. The Bank Lenders will continue to participate in 10% of Burnstone’s free cash flow after the Burnstone Debt has been repaid in full to a maximum amount of US$63.0 million under a revenue participation agreement. Security: The Burnstone Debt is fully secured against the assets of Burnstone (of R2.0 billion) and there is no recourse to the Group. The security package includes a cession over the bank accounts, insurance policies’ proceeds, special and general notarial bonds over movable assets and mortgage bonds over property.
Schedule of the rollforward of borrowings	Figures in million - SA rand Note Balance at beginning of the year 1,330.4 1,145.1 1,537.5 Accrued interest and unwinding of amortised cost 147.8 120.1 152.9 (Gain)/loss on revised estimated cash flows 1 (264.3) 96.6 (804.6) Loss/(gain) on foreign exchange differences 49.4 (31.4) 259.3 Balance at end of the year 1,263.3 1,330.4 1,145.1 1 At 31 December 2020, the expected free cash flows expected to repay the loan as detailed above were revised as a result of revised cash flows over the life of mine plan due to:  Revised forecast costs and capital expenditure; and  Revised long term gold prices 2020: R733,037/kg (2019: R686,225/kg and 2018: R585,500/kg) and exchange rates 2020: R16.00/US$ (2019: R14.00/US$ and 2018: R14.00/US$) based on a LOM of 20 years. A2 is discounted using a 5.8% discount rate and A3 and A4 is discounted at 9.5%
Other borrowings
Disclosure of detailed information about borrowings [line items]
Schedule of the rollforward of borrowings	Figures in million - SA rand Balance at beginning of the year - 425.6 478.7 Loans raised 4,071.1 8,264.6 10,798.6 Loans repaid (4,019.7) (11,135.7) (10,854.6) Unwinding of amortised cost - 9.6 2.9 Borrowings acquired on acquisition of subsidiary - 2,574.8 - Other - 1.3 - Gain on foreign exchange differences (51.4) (140.2) - Balance at end of the year - - 425.6

Lease liabilities - (Tables)

Lease liabilities - (Tables)	12 Months Ended
	Dec. 31, 2020
Lease liabilities
Summary of lease liabilities	Figures in million - SA rand Notes Balance at beginning of the year 382.8 - - Impact of adopting IFRS 16 on 1 January 2019 - 302.0 - New leases and modifications 65.8 51.5 - Lease liabilities on acquisition of subsidiaries - 133.3 - Repayment of lease liabilities (147.7) (131.7) - Interest charge 33.9 33.9 - Re-classification and other (8.8) (5.7) - Foreign currency translation 0.8 (0.5) - Balance at end of the year 326.8 382.8 - Current portion of lease liabilities (103.6) (110.0) - Non-current lease liabilities 223.2 272.8 -
Schedule of lease costs	Figures in million - SA rand Short-term leases 17.1 8.6 Leases of low value assets 83.2 34.4 Variable lease payments 10.8 6.5 Total 111.1 49.5
Schedule of lease maturities	Figures in million - SA rand Total Within one Between After five years Contractual undiscounted cash flows - 2020 391.0 131.0 244.6 15.4 Contractual undiscounted cash flows - 2019 474.9 140.0 297.8 37.1

ENVIRONMENTAL REHABILITATION _4

ENVIRONMENTAL REHABILITATION OBLIGATION (Tables)	12 Months Ended
	Dec. 31, 2020
ENVIRONMENTAL REHABILITATION OBLIGATION
Schedule of assumptions used to calculate provision	Inflation rate Discount rate LOM 2020 SA gold operations 6% 3.99% - 10.86% 1 – 21 years SA PGM operations 6% 3.99% - 10.80% 1 – 32 years US PGM operations 2% 1.45% - 1.65% 24 – 38 years 2019 SA gold operations 6% 6.69% - 9.99% 1 – 19 years SA PGM operations 6% 6.69% - 10.09% 1 – 31 years US PGM operations 2% 2.32% - 2.39% 25 – 37 years 2018 SA gold operations 6% 6.27% - 9.73% 1 – 19 years SA PGM operations 6% 6.27% - 9.81% 1 – 28 years US PGM operations 2% 2.87% - 3.02% 26 – 38 years
Schedule of environmental rehabilitation obligation activity	Figures in million - SA rand Notes Balance at beginning of the year 8,714.8 6,294.2 4,678.7 Interest charge 683.8 578.7 398.8 Utilisation of environmental rehabilitation obligation 1 (97.2) (34.9) (32.3) Change in estimates charged to profit or loss 2 (374.6) 88.9 (90.4) Change in estimates capitalised 2 (317.6) 105.1 618.8 Environmental rehabilitation obligation on acquisition of subsidiaries - 1,696.9 672.7 Foreign currency translation 24.6 (14.1) 47.9 Balance at end of the year 8,633.8 8,714.8 6,294.2 Environmental rehabilitation obligation and other provisions consists of: Environmental rehabilitation obligation 8,516.6 8,597.6 6,176.2 Other provisions 117.2 117.2 118.0 Environmental rehabilitation obligation and other provisions 8,633.8 8,714.8 6,294.2 1 The cost of ongoing current programmes to prevent and control environmental disturbances, including reclamation activities, is charged to cost of sales as incurred 2 Changes in estimates result from changes in reserves and corresponding changes in life of mine, changes in discount rates, changes in closure cost estimates and changes in laws and regulations governing environmental matters

OCCUPATIONAL HEALTHCARE OBLIG_2

OCCUPATIONAL HEALTHCARE OBLIGATION (Tables)	12 Months Ended
	Dec. 31, 2020
OCCUPATIONAL HEALTHCARE OBLIGATION
Schedule of estimated costs and discounted using a risk-free rate	Figures in million - SA rand Notes Balance at beginning of the year 1,282.1 1,274.1 1,153.3 Interest charge 96.3 115.5 105.4 Change in estimate recognised in profit or loss 52.3 (39.6) 15.4 Payments made (236.1) (67.9) - Balance at the end of the year 1,194.6 1,282.1 1,274.1 Reconciliation of the non-current and current portion of the occupational healthcare obligation: Occupational healthcare obligation 1,194.6 1,282.1 1,274.1 Current portion of occupational healthcare obligation (156.9) (148.7) (109.9) Non-current portion of occupational healthcare obligation 1,037.7 1,133.4 1,164.2

Deferred revenues (Tables)

Deferred revenues (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Contract Liabilities [Line Items]
Schedule of a management estimates the cumulative amount of the deferred revenue obligation	Inflation rate Discount rate LOM 2020 SA gold operations 6% 3.99% - 10.86% 1 – 21 years SA PGM operations 6% 3.99% - 10.80% 1 – 32 years US PGM operations 2% 1.45% - 1.65% 24 – 38 years 2019 SA gold operations 6% 6.69% - 9.99% 1 – 19 years SA PGM operations 6% 6.69% - 10.09% 1 – 31 years US PGM operations 2% 2.32% - 2.39% 25 – 37 years 2018 SA gold operations 6% 6.27% - 9.73% 1 – 19 years SA PGM operations 6% 6.27% - 9.81% 1 – 28 years US PGM operations 2% 2.87% - 3.02% 26 – 38 years
Schedule of Changes in Deferred Revenue	Figures in million - SA rand Note Balance at beginning of the year 8,167.1 6,555.4 - Deferred revenue advance received 1 770.6 2,859.3 6,555.4 BTT early settlement payment (787.1) - - Deferred revenue recognised during the period 2 (2,256.4) (2,227.5) (160.3) Interest charge 349.2 352.3 160.3 Loss on BTT early settlement 186.2 - - Deferred revenue recognised on acquisition of subsidiary - 627.6 - Balance at the end of the year 6,429.6 8,167.1 6,555.4 Reconciliation of the non-current and current portion of the deferred revenue: Deferred revenue 6,429.6 8,167.1 6,555.4 Current portion of deferred revenue (66.9) (1,270.6) (30.1) Non-current portion of deferred revenue 6,362.7 6,896.5 6,525.3 1 The R770.6 million received relates to the WPL forward platinum sale arrangement entered into on 3 March 2020 2 Revenue recognised during the year ended 31 December 2020 relates to R785.1 million recognised in respect of the WPL forward platinum sale arrangement entered into on 3 March 2020 (2019: Nil), R1,108.0 million in respect of the October 2019 forward gold sale arrangement (2019: R1,751.4 million in respect of the April 2019 forward gold sale arrangement) and R344.5 million relating to the Wheaton Stream (2019: R414.0 million, 2018: R160.3 million). Included in revenue recognised for the year ended 31 December 2020, is R18.8 million (2019: R62.1 million) in respect of the BTT
BTT streaming revenue
Disclosure Of Contract Liabilities [Line Items]
Schedule of a management estimates the cumulative amount of the deferred revenue obligation	Further information Estimated financing rate over life of arrangement 11.5% Refer note 5.2 Remaining life of stream 6 years The life of the stream was determined by the reserves of the Marikana Easterns’ Tailings Dam no.1. 6E PGM entitlement percentage 23% The 6E PGM entitlement percentage ranged from 23% to 38% based on a weighted 6E PGM basket price that was determined monthly. Monthly cash percentage 20% The monthly cash payment received was a percentage of the 6E PGM weighted basket price, ranging from 16% to 20%, and was based on a weighted 6E PGM basket price that is determined monthly. This cash payment was capped at a minimum of $106 per ounce and a maximum of $280 per ounce. Commodity prices Average monthly basket price The monthly basket price for any calendar month was calculated by dividing the sum of the monthly average value of weighted 6E PGM basket by the total number of ounces for such calendar month.
Wheaton Precious Metals International [Member]
Disclosure Of Contract Liabilities [Line Items]
Schedule of a management estimates the cumulative amount of the deferred revenue obligation	Key input Estimate at year end Further information Estimated financing rate over life of arrangement 4.6% - 5.2% Refer note 5.2 Remaining life of stream 88 years The starting point for the life of the stream is the approved life of mine for the US PGM operations. However, as IFRS 15 requires the constraint on revenue recognition to be considered, it is more prudent to include a portion of resources in the life of stream for the purposes of revenue recognition. This will reduce the chance of having a significant decrease in revenue recognised in the future, when the life of mine is updated to include a conversion of resources to reserves. As such, Sibanye-Stillwater management have determined that is it appropriate to include 50% of inferred resources. Palladium entitlement percentage 4.5% The palladium entitlement percentage will be either 4.5%, 2.25% or 1% over the life of the mine, depending on whether or not the advance has been fully reduced, and a certain number of contractual ounces have been delivered (375,000 ounces for the first trigger drop down to 2.25% and 550,000 ounces for the second trigger drop down rate to 1%). Monthly cash percentage 18% The monthly cash payment to be received is 18%, 16%, 14% or 10% of the market price of the metal credit delivery to Wheaton International while the advance is not fully reduced. After the advance has been fully reduced, the cash percentage is 22%, 20%, 18% or 14%. The percentage applicable depends on the investment grade of the Group and its leverage ratio. As long as Sibanye-Stillwater’s current investment grade conditions as stipulated in the contract have been satisfied, the monthly cash percentage decreases if the Group’s leverage ratio increases above 3.5:1. The balance of the ounces in the monthly delivery (i.e. 100%-18%= 82%) is then used to determine the utilisation of the deferred revenue balance. Commodity prices Five day simple average calculated the day before delivery The value of each metal credit delivery is determined in terms of the contract.

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2020
Other payables
Schedule of Trade and Other Payables	Figures in million - SA rand Trade creditors 4,325.1 3,208.0 2,200.0 Accruals and other creditors 4,166.2 3,195.6 2,952.7 Other 32.5 1,335.9 7.2 Financial liabilities 8,523.8 7,739.5 5,159.9 Payroll creditors 2,491.5 1,898.2 1,465.3 Leave pay accrual 2,016.4 1,692.5 1,152.6 VAT payable 175.7 135.7 78.5 Total trade and other payables 13,207.4 11,465.9 7,856.3

CASH GENERATED BY OPERATIONS (T

CASH GENERATED BY OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2020
CASH GENERATED BY OPERATIONS
Schedule of cash generated by operations	Figures in million - SA rand Notes Profit/(Loss) for the year 30,621.6 432.8 (2,520.7) Royalties 1,765.0 431.0 212.6 Carbon tax 5.2 12.9 - Mining and income tax 4,858.2 (1,733.0) 1,083.8 Interest income (1,065.4) (560.4) (482.1) Finance expense 3,151.8 3,302.5 3,134.7 Profit before interest, royalties and tax 39,336.4 1,885.8 1,428.3 Non-cash adjusting items: Amortisation and depreciation 7,592.4 7,214.1 6,613.8 Share-based payments 512.4 363.3 299.4 Loss/(gain) on financial instruments 1,904.8 5,731.3 (1,591.3) Gain on foreign exchange differences (409.9) (461.4) (241.3) Share of results of equity-accounted investees after tax (1,699.8) (721.0) (344.2) (Reversal of impairments)/Impairments (121.4) 86.0 3,041.4 Gain on derecognition of borrowings and derivative financial instrument 28.4, 28.5 - - (230.0) Loss on settlement of US$ Convertible Bond 1,506.7 - - Occupational healthcare expense 52.3 (39.6) 15.4 Change in estimate of environmental rehabilitation obligation (464.1) 89.6 (90.4) Gain on acquisition - (1,103.0) - Deferred revenue recognised (2,256.4) (2,227.5) - Loss on BTT early settlement 186.2 - - Cash adjusting items: Income on settlement of dispute (580.0) - - Payment of occupational healthcare liability (236.1) (67.9) - Other non-cash and cash adjusting items (138.0) (183.8) (192.1) Total cash generated by operations 45,185.5 10,565.9 8,709.0

CHANGE IN WORKING CAPITAL (Tabl

CHANGE IN WORKING CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2020
Change In Working Capital [Abstract]
Schedule of the change in working capital	Figures in million - SA rand Inventories (9,026.8) (5,000.0) (924.8) Trade and other receivables (2,167.0) 3,115.2 (461.0) Trade and other payables 1,758.7 1,259.2 315.8 Total change in working capital (9,435.1) (625.6) (1,070.0)

Financial instruments and ris_2

Financial instruments and risk management (Tables)	12 Months Ended
	Dec. 31, 2020
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
Schedule of significant financial instruments measured at fair value by level within the fair value hierarchy	Figures in million - SA rand 2020 2019 2018 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets measured at fair value - Environmental rehabilitation obligation funds 4,111.0 823.0 - 3,578.3 1,023.9 - 364.7 - - Trade receivables - PGM concentrate sales - 4,030.0 - - 2,341.6 - - - - Other investments 603.4 - 243.6 414.7 - 184.0 81.5 - 74.5 - Palladium hedge contract - -* - - - - - - - Financial liabilities measured at fair value - Derivative financial instrument - - - - 4,144.9 - - 408.8 - - Gold hedge contracts - -* - - 68.3 - - 240.8 - * Less than R0.1 million

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
COMMITMENTS
Schedule of commitments	Figures in million - SA rand Capital expenditure Authorised 7,534.8 5,972.3 4,411.7 Kloof 1,515.6 1,289.8 970.2 Driefontein 884.8 846.1 830.9 Beatrix 169.4 231.7 218.0 SGL corporate 961.0 762.4 - Cooke 54.1 55.1 195.5 Burnstone 8.0 5.4 40.4 Kroondal 318.9 220.3 131.6 Platinum Mile - 19.9 72.3 Rustenburg operation 2,573.7 2,033.1 1,830.0 Marikana 63.4 153.4 - Other 1 985.9 355.1 122.8 Contracted for 772.7 594.5 281.8 Other guarantees 1,487.8 1,420.5 266.7 1 Includes authorised capital expenditure relating to DRDGOLD of R605 .1 million (2019: R133.5 million, 2018: R37.5 million)

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2020
RELATED-PARTY TRANSACTIONS
Schedule of transactions and balances between the Group and its related-parties	Figures in million - SA rand Rand Refinery Gold sales 298.0 505.5 616.2 Refining fees paid (31.0) (24.8) (29.1) Trade payable (6.4) (4.5) (3.1)
Schedule of key management remuneration, fees and share ownership	The disclosure below incorporates remuneration for services rendered to various companies within the Group during the year. The executive directors and prescribed officers were paid the following remuneration during the year: Figures in thousands - SA rand Salary Cash bonus accrued for 2020 paid in 2021 Accrual of share-based payment benefits Pension scheme total contributions Expense allowance and other benefits Executive directors Neal Froneman 1 13,336 13,405 30,292 838 102 57,973 31,917 35,760 Charl Keyter 6,353 6,526 15,067 937 80 28,963 16,024 17,697 Prescribed officers Chris Bateman 2 7,058 3,484 52,404 959 3,054 66,959 25,289 16,885 Shadwick Bessit 3 4,218 4,022 5,749 769 31 14,789 10,595 688 Hartley Dikgale 4 977 712 26,852 65 553 29,159 7,898 8,761 Dawie Mostert 3,870 3,660 8,553 545 27 16,655 9,284 10,112 Themba Nkosi 3,788 3,178 8,005 292 23 15,286 8,117 7,265 Wayne Robinson 4,532 4,483 9,848 381 28 19,272 10,044 10,925 Richard Stewart 4,075 3,669 10,635 467 27 18,873 9,428 12,986 Robert van Niekerk 5,156 5,486 11,700 589 44 22,975 13,547 13,508 Laurent Charbonnier 5 1,315 773 515 11 - 2,614 - - Lerato Legong 6 1,144 945 630 156 - 2,875 - - Total 55,822 50,343 180,250 6,009 3,969 296,393 142,143 134,587 1 Entered into a dual service contract with effect 1 January 2020. Remuneration paid by Stillwater in US dollars was converted at the average exchange rate of R16.46/US$ for the year ended 31 December 2020 2 Remuneration paid in US dollars was converted at the average exchange rate of R16.46/US$ for the year ended 31 December 2020. Ceased performing a prescribed officer role on 6 September 2020 3 Ceased performing a prescribed officer role on 16 January 2021 4 Ceased performing a prescribed officer role on 31 March 2020 5 Assumed a prescribed officer role on 16 November 2020, remuneration paid in GBP was converted at the average exchange rate of R21.10/GBP for the year ended 31 December 2020 6 Assumed a prescribed officer role on 1 September 2020 Total key management personnel compensation recognised under IFRS: Figures in thousands - SA rand Short-term employee benefits 110,134.0 106,605.0 83,635.0 Post-employment benefits 6,008.0 5,300.0 4,546.0 Share-based payment 127,096.6 120,477.7 46,406.0 Total 243,238.6 232,382.7 134,587.0 The non-executive directors were paid the foll owing fees during the year: Figures in thousands - SA rand Directors fees Committee fees Expense allowance Timothy Cumming 1,042 743 124 1,909 1,795 1,698 Savannah Danson 1,042 638 - 1,680 1,609 1,480 Barry Davison 1 - - - - 666 1,649 Harry Kenyon-Slaney 1,199 775 140 2,114 1,699 - Richard Menell 1,679 354 81 2,114 1,831 1,723 Sello Moloko 2 - - - - 1,407 1,802 Nkosemntu Nika 1,042 638 28 1,708 1,609 1,435 Keith Rayner 1,042 822 - 1,864 1,881 1,723 Susan van der Merwe 1,042 638 36 1,716 1,609 1,491 Jerry Vilakazi 1,042 380 - 1,422 1,362 1,289 Vincent Maphai 2,669 - 87 2,756 822 - Elaine Jay Dorward-King 3 906 201 - 1,107 - - Wang Bin 4 255 72 - 327 - - Lu Jiongjie 4 255 72 - 327 - - Total 13,215 5,333 496 19,044 16,290 14,290 1 Resigned as a non-executive director on 28 May 2019 2 Resigned as a non-executive director on 30 September 2019 3 Appointed as a non-executive director 27 March 2020 4 Appointed and resigned as a non-executive director on 24 February 2020 and 27 March 2020, respectively The directors’ and prescribed officers’ share ownership at 31 December 2020 was 1 : Number of shares % Executive directors Neal Froneman 2,10 4,555,954 0.17 0.18 0.20 Charl Keyter 2,10 1,530,119 0.06 0.06 0.07 Non-executive directors Timothy Cumming 2 1,242 242 106 - - - Barry Davison 4 - - 1,567,710 - - 0.07 Richard Menell 2 84,625 108,625 108,625 - - - Sello Moloko 4 - - 111,534 - - - Keith Rayner 2 68,992 68,992 68,992 - - - Susan van der Merwe 2 1,027 1,028 1,028 - - - Vincent Maphai 2 50,000 - - - - - Savannah Danson 2 2,519 - - - - - Harry Kenyon-Slaney 2,5 16,852 - - - - - Elaine Dorward-King 2,6 4,800 - - - - - Total share ownership by directors 7,944,068 Prescribed officers Chris Bateman 7 - 32,747 32,747 - - - Shadwick Bessit 8 94,707 31,652 219,782 - - 0.01 Hartley Dikgale 7 - 184,311 114,744 - 0.01 0.01 Dawie Mostert 3,10 38,975 38,975 50,743 - - - Themba Nkosi 2,10 59,022 796 19,107 - - - Wayne Robinson 2,10 184,333 73,292 39,321 0.01 - - Richard Stewart 2,10 105,303 362,747 421,653 - 0.01 0.02 Robert van Niekerk 3,10 257,732 271,537 - 0.01 0.01 Laurent Charbonnier 2,9 35,620 - - - - - Lerato Legong 2 - - - - - - Total 9,113,702 1 Following the implementation of the Scheme (refer note 26), the Directors’ shareholdings are in Sibanye Stillwater Limited 2 Share ownership in the Company at the date of this report is unchanged (except as described in footnote 10 below) 3 Share ownership in the Company at the date of this report was (except as described in footnote 10 below): · Dawie Mostert – 6,100 shares · Robert van Niekerk – 366 shares 4 Resigned during 2019 5 Harry Kenyon-Slaney holds 4,213 ADRs which convert to 16,852 ordinary shares in the Company 6 Appointed during 2020. Elaine Dorward-King holds 1,200 ADRs at 31 December 2020 which convert to 4,800 ordinary shares in the Company 7 Ceased performing a prescribed officer role during 2020 8 Ceased performing a prescribed officer role during 2021 before the annual financial report was authorised for issue 9 Appointed during 2020. Laurent Charbonnier holds 8,905 ADRs at 31 December 2020 which convert to 35,620 ordinary shares in the Company 10 At the date of this report, the following directors and prescribed officers had shares in escrow following the March 2021 vesting in terms of the equity-settled share-based payment scheme: — Neal Froneman – 2,725,411 shares and 319,165 ADRs — Charl Keyter – 2,037,730 shares — Dawie Mostert – 989,754 shares — Themba Nkosi – 795,975 shares — Wayne Robinson – 915,070 shares and 9,036 ADRs — Richard Stewart – 1,135,892 shares — Robert Van Niekerk – 1,598,602 shares

ACCOUNTING POLICIES (Details)

ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2020regionitem	Dec. 31, 2019	Dec. 31, 2018
Accounting policies
Number of regions | region	2
Kroondal
Accounting policies
Proportion of ownership interest in joint operation	50.00%	50.00%	50.00%
Marikana operations
Accounting policies
Proportion of ownership interest in joint operation	50.00%
Number of shafts and concentrators | item	5
Platinum Mile
Accounting policies
Proportion of ownership interest in subsidiary	91.70%
Mimosa
Accounting policies
Proportion of ownership interest in associate	50.00%

ACCOUNTING POLICIES - Consolida

ACCOUNTING POLICIES - Consolidation (Details) - ZAR (R)	Jun. 29, 2018	Nov. 22, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 10, 2020	Aug. 01, 2018
DRDGOLD Limited
Accounting policies
Percentage of voting equity interests acquired		38.05%				12.05%
Proportion of ownership interest in subsidiary			50.10%
Potential ownership, as a percent		50.10%	50.66%
Shares option, price discount, as a percent		10.00%
Consideration transferred, acquisition-date fair value						R 1,085,600,000	R 261,400,000
Number of instruments or interests issued or issuable						168,158,944
Newshelf 1335 Proprietary Limited
Accounting policies
Potential ownership, as a percent			2.00%
Bakgatla Ba Kgafela Investment Holdings
Accounting policies
Percentage of stake held			24.80%
Siyanda Resources Proprietary Limited
Accounting policies
Percentage of stake held			20.00%
Phembani Group [Member]
Accounting policies
Percentage of stake held			13.01%
Marikana Community Trust [Member]
Accounting policies
Percentage of stake held			0.90%
Bapo Ba Mogale Community Trust [Member]
Accounting policies
Percentage of stake held			0.90%
Incwala Platinum Pty Ltd Subsidiaries [Member] | Phembani Group [Member]
Accounting policies
Percentage of stake held			9.01%
Incwala Platinum Pty Ltd Subsidiaries [Member] | Rustenburg Eastern Operations Proprietary Limited [Member]
Accounting policies
Percentage of stake held			4.24%
Rand Refinery
Accounting policies
Proportion of ownership interest in associate			44.40%	44.40%
Rustenburg Mine Employees Trust
Accounting policies
Proportion of ownership interest in subsidiary			30.40%
Rustenburg Mine Community Development Trust
Accounting policies
Percentage of stake held			24.80%
Sibanye Rustenburg Platinum Mines Proprietary Limited Subsidiary
Accounting policies
Percentage of voting equity interests acquired			26.00%
Rustenburg Eastern Operations Proprietary Limited [Member]
Accounting policies
Proportion of ownership interest in subsidiary			6.13%
Western Platinum Limited [Member]
Accounting policies
Percentage of stake held			4.75%
Eastern Platinum Limited [Member]
Accounting policies
Percentage of stake held			4.75%
Eastern Platinum Limited [Member] | Lonplats Siyakhula Employee Profit Share Trust [Member]
Accounting policies
Percentage of stake held			3.80%
Akanani [Member]
Accounting policies
Percentage of stake held			6.87%
DRDGOLD Limited
Accounting policies
Percentage of stake held			49.90%	61.95%	61.95%
Potential ownership, as a percent			49.30%	61.40%	61.40%
Newshelf 1114 | Newshelf 1335 Proprietary Limited
Accounting policies
Proportion of ownership interest in subsidiary			76.00%
Peregrine Metals Ltd. [Member]
Accounting policies
Proportion of ownership interest in associate			100.00%
Aldebaran Resources Inc. [Member] | Peregrine Metals Ltd. [Member]
Accounting policies
Joint Venture Ownership Interest Of Counterparty, Initial	60.00%		60.00%

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEGMENT REPORTING
Revenue	R 127,392.4	R 72,925.4	R 50,656.4
Cost of sales, before amortisation and depreciation	(75,776.4)	(56,100.4)	(41,515.2)
Net other cash costs	(2,231.1)	(1,869)	(771.8)
Amortisation and depreciation	(7,592.4)	(7,214.1)	(6,613.8)
Interest income	1,065.4	560.4	482.1
Finance expense	(3,151.8)	(3,302.5)	(3,134.7)
Share-based payments	(512.4)	(363.3)	(299.4)
Net other costs	(393.6)	(4,925.8)	3,284
Non-underlying items	(1,550.1)	(567)	(3,311.9)
Royalties and carbon tax	1,770.2	443.9	212.6
Current taxation	(5,374.3)	(1,848.7)	(95.3)
Deferred taxation	516.1	3,581.7	(988.5)
Profit/(loss) for the period	30,621.6	432.8	(2,520.7)
Adjusted EBITDA	49,384.9	14,956	8,369.4
Attributable to:
Owners of the parent	29,311.9	62.1	(2,499.6)
Non-controlling interests	1,309.7	370.7	(21.1)
Sustaining capital expenditure	(2,816.7)	(2,039.3)	(1,271.2)
Ore reserve development	(4,150.2)	(3,401.9)	(3,530.4)
Growth projects	(2,648.5)	(2,264.9)	(2,279.2)
Total capital expenditure	(9,615.4)	(7,706.1)	(7,080.8)
Repayment Of Lease Liabilities, Gross	147.7	131.7
Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	91,369.9	51,528.2	38,605.7
Cost of sales, before amortisation and depreciation	(45,502.4)	(36,520.3)	(30,248.7)
Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	10,726	6,876	4,608
Cost of sales, before amortisation and depreciation	(5,856.5)	(5,611.5)	(4,070)
Market For Recycled Products [Member]
SEGMENT REPORTING
Revenue	25,296.5	14,521.2	7,442.7
Cost of sales, before amortisation and depreciation	(24,417.5)	R (13,968.6)	R (7,196.5)
Marikana operations
Attributable to:
Period of time for which results are included		7 months
DRD Gold Segment [Member]
Attributable to:
Period of time for which results are included			5 months
South Africa Region [Member]
SEGMENT REPORTING
Revenue	82,781.4	R 46,222.6	R 34,810.3
Cost of sales, before amortisation and depreciation	(43,773)	(36,531)	(29,794.3)
Net other cash costs	(2,163.6)	(1,864.8)	(771.8)
Amortisation and depreciation	(4,864.9)	(4,928.5)	(4,379.4)
Interest income	786.8	415.2	398.9
Finance expense	(1,772.4)	(2,071)	(1,177.3)
Share-based payments	(432.2)	(309.9)	(263.7)
Net other costs	(425)	(4,934.1)	3,215.2
Non-underlying items	(1,385.3)	(123.4)	(2,932.7)
Royalties and carbon tax	1,770.2	443.9	212.6
Current taxation	(4,352.8)	(1,367.4)	(333.6)
Deferred taxation	1,197.6	2,145.4	807.2
Profit/(loss) for the period	23,826.4	(3,790.8)	(633.8)
Adjusted EBITDA	36,844.8	7,826.8	4,244.2
Attributable to:
Owners of the parent	22,516.7	(4,161.5)	(612.7)
Non-controlling interests	1,309.7	370.7	(21.1)
Sustaining capital expenditure	(2,018.6)	(1,717.6)	(1,011)
Ore reserve development	(2,911)	(2,365.7)	(2,531.5)
Growth projects	(263.6)	(229.9)	(705.2)
Total capital expenditure	(5,193.2)	(4,313.2)	(4,247.7)
South Africa Region [Member] | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	72,055.4	39,346.6	30,202.3
Cost of sales, before amortisation and depreciation	(37,916.5)	(30,919.5)	(25,724.3)
South Africa Region [Member] | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	10,726	6,876	4,608
Cost of sales, before amortisation and depreciation	(5,856.5)	(5,611.5)	(4,070)
South Africa Region [Member] | Platinum
SEGMENT REPORTING
Revenue	54,912.6	27,578.4	15,153.6
Cost of sales, before amortisation and depreciation	(24,722.6)	(18,196.7)	(12,096)
Net other cash costs	(1,115.5)	(585.5)	(175.8)
Amortisation and depreciation	(2,072.4)	(1,919)	(1,074.4)
Interest income	222.1	145.8	83.5
Finance expense	(661.8)	(704.2)	(422.4)
Share-based payments	(90.1)
Net other costs	1,223.6	(1,513.2)	726.3
Non-underlying items	149	258.8	(29.7)
Royalties and carbon tax	1,625.4	358.2	162
Current taxation	(3,860.3)	(1,303.7)	(278.5)
Deferred taxation	957.6	14.1	(192.6)
Profit/(loss) for the period	23,316.8	3,416.6	1,532
Adjusted EBITDA	29,074.5	8,796.2	2,881.8
Attributable to:
Owners of the parent	22,650.9	3,355	1,529.3
Non-controlling interests	665.9	61.6	2.7
Sustaining capital expenditure	(1,052.1)	(1,203.2)	(464.4)
Ore reserve development	(1,124.8)	(1,029.2)	(477.9)
Growth projects	(19.7)	(15.2)	(57.7)
Total capital expenditure	(2,196.6)	(2,247.6)	(1,000)
South Africa Region [Member] | Platinum | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	52,142.3	26,616.5	14,045.1
Cost of sales, before amortisation and depreciation	(23,551.2)	(17,207.9)	(11,131.4)
South Africa Region [Member] | Platinum | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	2,770.3	961.9	1,108.5
Cost of sales, before amortisation and depreciation	(1,171.4)	(988.8)	(964.6)
South Africa Region [Member] | Gold
SEGMENT REPORTING
Revenue	27,868.8	18,644.2	19,656.7
Cost of sales, before amortisation and depreciation	(19,050.4)	(18,334.3)	(17,698.3)
Net other cash costs	(1,048.1)	(1,279.3)	(596)
Amortisation and depreciation	(2,792.5)	(3,009.5)	(3,305)
Interest income	564.7	269.4	315.4
Finance expense	(1,110.6)	(1,366.8)	(754.9)
Share-based payments	(342.1)	(309.9)	(263.7)
Net other costs	(1,648.6)	(3,420.9)	2,488.9
Non-underlying items	(1,534.3)	(382.2)	(2,903)
Royalties and carbon tax	144.8	85.7	50.6
Current taxation	(492.5)	(63.7)	(55.1)
Deferred taxation	240	2,131.3	999.8
Profit/(loss) for the period	509.6	(7,207.4)	(2,165.8)
Adjusted EBITDA	7,770.3	(969.4)	1,362.4
Attributable to:
Owners of the parent	(134.2)	(7,516.5)	(2,142)
Non-controlling interests	643.8	309.1	(23.8)
Sustaining capital expenditure	(966.5)	(514.4)	(546.6)
Ore reserve development	(1,786.2)	(1,336.5)	(2,053.6)
Growth projects	(243.9)	(214.7)	(647.5)
Total capital expenditure	(2,996.6)	(2,065.6)	(3,247.7)
South Africa Region [Member] | Gold | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	19,913.1	12,730.1	16,157.2
Cost of sales, before amortisation and depreciation	(14,365.3)	(13,711.6)	(14,592.9)
South Africa Region [Member] | Gold | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	7,955.7	5,914.1	3,499.5
Cost of sales, before amortisation and depreciation	(4,685.1)	(4,622.7)	(3,105.4)
US Region/ Stillwater
SEGMENT REPORTING
Revenue	45,154.1	26,864.5	15,872.8
Cost of sales, before amortisation and depreciation	(32,003.4)	(19,569.4)	(11,720.9)
Net other cash costs	(67.5)	(4.2)
Amortisation and depreciation	(2,727.5)	(2,285.6)	(2,234.4)
Interest income	278.6	145.2	83.2
Finance expense	(1,057.3)	(920.7)	(1,797.1)
Share-based payments	(80.2)	(53.4)	(35.7)
Net other costs	31.4	8.3	68.8
Non-underlying items	(92.5)	(74.6)	(210.7)
Current taxation	(976.4)	(481.3)	238.3
Deferred taxation	(681.5)	1,436.3	(1,795.7)
Profit/(loss) for the period	7,777.8	5,065.1	(1,531.4)
Adjusted EBITDA	13,083.2	7,290.9	4,151.9
Attributable to:
Owners of the parent	7,777.8	5,065.1	(1,531.4)
Sustaining capital expenditure	(798.1)	(321.7)	(260.2)
Ore reserve development	(1,239.2)	(1,036.2)	(998.9)
Growth projects	(2,384.9)	(2,035)	(1,574)
Total capital expenditure	(4,422.2)	(3,392.9)	(2,833.1)
US Region/ Stillwater | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	19,857.6	12,343.3	8,430.1
Cost of sales, before amortisation and depreciation	(7,585.9)	(5,600.8)	(4,524.4)
US Region/ Stillwater | Market For Recycled Products [Member]
SEGMENT REPORTING
Revenue	25,296.5	14,521.2	7,442.7
Cost of sales, before amortisation and depreciation	(24,417.5)	(13,968.6)	(7,196.5)
Attributable to:
Total capital expenditure	(3.4)
Operating segments | South Africa Region [Member] | Rustenburg Operations
SEGMENT REPORTING
Revenue	20,428.7	10,499.5	11,372.5
Cost of sales, before amortisation and depreciation	(9,588.7)	(6,466.9)	(9,203.9)
Net other cash costs	50.9	(156.1)	(121.1)
Amortisation and depreciation	(806.1)	(914.4)	(697.1)
Interest income	27.3	44.6	20.2
Finance expense	(2,841.2)	(1,407.5)	(1,890.6)
Share-based payments	(36)
Net other costs	(3,846.7)	(11,381.8)	4,348
Non-underlying items	590.8	2.4	(30.7)
Royalties and carbon tax	924.2	296.1	156.5
Current taxation	(2,634.9)	(780.3)	(277.4)
Deferred taxation	98.1	30	(15.5)
Profit/(loss) for the period	518	(10,826.6)	3,347.9
Adjusted EBITDA	10,890.9	3,876.5	2,047.5
Attributable to:
Owners of the parent	518	(10,826.6)	3,347.9
Sustaining capital expenditure	(325.6)	(316.3)	(313.5)
Ore reserve development	(417)	(500.6)	(477.9)
Growth projects		(1.8)	(0.6)
Total capital expenditure	(742.6)	(818.7)	(792)
Operating segments | South Africa Region [Member] | Rustenburg Operations | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	18,521.1	9,901.1	10,460.7
Cost of sales, before amortisation and depreciation	(8,732.3)	(5,691.7)	(8,392)
Operating segments | South Africa Region [Member] | Rustenburg Operations | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	1,907.6	598.4	911.8
Cost of sales, before amortisation and depreciation	(856.4)	(775.2)	(811.9)
Operating segments | South Africa Region [Member] | Marikana operations
SEGMENT REPORTING
Revenue	26,864.8	11,187.9
Cost of sales, before amortisation and depreciation	(13,232)	(8,439.9)
Net other cash costs	(789.4)	(299.9)
Amortisation and depreciation	(818.4)	(500.4)
Interest income	106.5	30.9
Finance expense	(258.8)	(282.4)
Share-based payments	(41.1)
Net other costs	2,131.5	12.9
Non-underlying items	(434.8)	212.7
Royalties and carbon tax	691.5	54.5
Current taxation	92.3	13.3
Deferred taxation	951
Profit/(loss) for the period	13,880.1	1,880.6
Adjusted EBITDA	12,843.4	2,448.1
Attributable to:
Owners of the parent	13,229.6	1,821.6
Non-controlling interests	650.5	59
Sustaining capital expenditure	(515.2)	(660.4)
Ore reserve development	(707.8)	(528.6)
Total capital expenditure	(1,223)	(1,189)
Operating segments | South Africa Region [Member] | Marikana operations | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	26,864.8	11,125
Cost of sales, before amortisation and depreciation	(13,232)	(8,439.9)
Operating segments | South Africa Region [Member] | Marikana operations | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue		62.9
Operating segments | South Africa Region [Member] | Kroondal
SEGMENT REPORTING
Revenue	7,972.8	5,590.4	3,584.4
Cost of sales, before amortisation and depreciation	(2,803.3)	(3,076.3)	(2,739.4)
Net other cash costs	(76)	(103.4)	(52.7)
Amortisation and depreciation	(409.9)	(494.8)	(370.4)
Interest income	84	67.1	60.3
Finance expense	(136.5)	(146.9)	(130.5)
Share-based payments	(13)
Net other costs	121.8	(0.3)	137.6
Non-underlying items	(7)	44.8	0.4
Royalties and carbon tax	9.8	7.6	5.5
Current taxation	(1,299.7)	(536)
Deferred taxation	(34.1)	(0.7)	(168.9)
Profit/(loss) for the period	3,389.3	1,336.3	315.3
Adjusted EBITDA	5,093.5	2,410.7	792.3
Attributable to:
Owners of the parent	3,389.3	1,336.3	315.3
Sustaining capital expenditure	(187.8)	(212.8)	(141.4)
Total capital expenditure	(187.8)	(212.8)	(141.4)
Operating segments | South Africa Region [Member] | Kroondal | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	7,972.8	5,590.4	3,584.4
Cost of sales, before amortisation and depreciation	(2,803.3)	(3,076.3)	(2,739.4)
Operating segments | South Africa Region [Member] | Platinum Mile
SEGMENT REPORTING
Revenue	950.3	300.6	196.7
Cost of sales, before amortisation and depreciation	(402.6)	(213.6)	(152.7)
Net other cash costs	(240.5)	(25.3)	(1.2)
Amortisation and depreciation	(33.9)	(4.8)	(3)
Interest income	2.8	1.3	1.3
Net other costs	(14)	1.1	0.7
Current taxation	(14.8)
Deferred taxation	(58.4)	(16.5)	(9.2)
Profit/(loss) for the period	188.9	42.8	32.6
Adjusted EBITDA	307.2	61.7	42.8
Attributable to:
Owners of the parent	173.3	39.3	29.9
Non-controlling interests	15.6	3.5	2.7
Sustaining capital expenditure	(23.3)	(13.3)	(9.5)
Growth projects	(19.7)	(13.4)	(57.1)
Total capital expenditure	(43)	(26.7)	(66.6)
Operating segments | South Africa Region [Member] | Platinum Mile | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	950.3	300.6	196.7
Cost of sales, before amortisation and depreciation	(402.6)	(213.6)	(152.7)
Operating segments | South Africa Region [Member] | Mimosa
SEGMENT REPORTING
Revenue	3,894.5	2,342.6	1,857.5
Cost of sales, before amortisation and depreciation	(1,601.1)	(1,336.3)	(1,235.7)
Net other cash costs	(58.6)	(8)	(6.7)
Amortisation and depreciation	(281.5)	(218.7)	(191.6)
Interest income	4	2.2	0.1
Finance expense	(14)	(21.8)	(13)
Net other costs	(16.2)	(137.2)	(9.2)
Non-underlying items		(27.5)
Royalties and carbon tax	135.2	77.1	57.6
Current taxation	(450.3)	(135.5)	(103.4)
Deferred taxation	(41.9)	(5.6)	(29.9)
Profit/(loss) for the period	1,299.7	377.1	210.5
Adjusted EBITDA	2,234.8	998.3	615.1
Attributable to:
Owners of the parent	1,299.7	377.1	210.5
Sustaining capital expenditure	(413.9)	(343.1)	(170.9)
Total capital expenditure	(413.9)	(343.1)	(170.9)
Operating segments | South Africa Region [Member] | Mimosa | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	3,894.5	2,342.6	1,857.5
Cost of sales, before amortisation and depreciation	(1,601.1)	(1,336.3)	(1,235.7)
Operating segments | South Africa Region [Member] | Driefontein
SEGMENT REPORTING
Revenue	6,793.5	3,303.1	5,111.2
Cost of sales, before amortisation and depreciation	(4,863.6)	(4,438.6)	(5,709.3)
Net other cash costs	(65.6)	(197.6)	(50.2)
Amortisation and depreciation	(932.1)	(920.5)	(1,200.9)
Interest income	67.3	60.1	94.3
Finance expense	(156.4)	(242.8)	(234.9)
Share-based payments	(21.8)		(0.2)
Net other costs	19.5	17.5	(362.8)
Non-underlying items	(27.3)	(169.5)	(2,157.6)
Royalties and carbon tax	72.9	16.6	(1.4)
Current taxation	(9.4)	(22.7)	63.9
Deferred taxation	(232.9)	74.8	922.9
Profit/(loss) for the period	498.3	(2,552.8)	(3,522.2)
Adjusted EBITDA	1,864.3	(1,333.1)	(648.3)
Attributable to:
Owners of the parent	498.3	(2,552.8)	(3,522.2)
Sustaining capital expenditure	(186.5)	(163)	(228.1)
Ore reserve development	(742.3)	(512.9)	(817.1)
Growth projects			(0.4)
Total capital expenditure	(928.8)	(675.9)	(1,045.6)
Operating segments | South Africa Region [Member] | Driefontein | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	6,793.5	3,301.4	4,782.4
Cost of sales, before amortisation and depreciation	(4,863.6)	(4,428.6)	(5,386.7)
Operating segments | South Africa Region [Member] | Driefontein | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue		1.7	328.8
Cost of sales, before amortisation and depreciation		(10)	(322.6)
Operating segments | South Africa Region [Member] | Kloof
SEGMENT REPORTING
Revenue	9,795	6,808.5	8,131.7
Cost of sales, before amortisation and depreciation	(6,879.6)	(6,872.9)	(6,364.8)
Net other cash costs	(104.3)	(152.7)	(44.8)
Amortisation and depreciation	(1,092.1)	(1,200.9)	(1,378.8)
Interest income	58.6	53	72
Finance expense	(150.5)	(242.9)	(245.9)
Share-based payments	(25.9)
Net other costs	30	31	(110.3)
Non-underlying items	(18.3)	(35.1)	27.2
Royalties and carbon tax	114.8	34.2	29
Current taxation	9.2	(5.5)	(75.3)
Deferred taxation	(322.3)	150.4	313.1
Profit/(loss) for the period	1,185	(1,501.3)	295.1
Adjusted EBITDA	2,811.1	(217.1)	1,722.1
Attributable to:
Owners of the parent	1,185	(1,501.3)	295.1
Sustaining capital expenditure	(392)	(238.1)	(220.6)
Ore reserve development	(722.2)	(590.4)	(839.6)
Growth projects	(155.4)	(108.9)	(141.8)
Total capital expenditure	(1,269.6)	(937.4)	(1,202)
Operating segments | South Africa Region [Member] | Kloof | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	8,109.4	5,552.4	6,937.9
Cost of sales, before amortisation and depreciation	(5,885.6)	(5,741.1)	(5,352.2)
Operating segments | South Africa Region [Member] | Kloof | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	1,685.6	1,256.1	1,193.8
Cost of sales, before amortisation and depreciation	(994)	(1,131.8)	(1,012.6)
Operating segments | South Africa Region [Member] | Beatrix
SEGMENT REPORTING
Revenue	4,663.8	3,798.2	4,601.3
Cost of sales, before amortisation and depreciation	(3,713.8)	(3,669.2)	(3,910.8)
Net other cash costs	(97)	(179.8)	(37.2)
Amortisation and depreciation	(490.5)	(640)	(635.3)
Interest income	35.6	31.4	40
Finance expense	(107.1)	(141.1)	(143.6)
Share-based payments	(18.6)
Net other costs	27.9	13.4	(57.8)
Non-underlying items	(40.3)	(112.4)	(156.6)
Royalties and carbon tax	46.1	30.8	18.8
Current taxation	(5)	(13.3)	5.5
Deferred taxation	(88.7)	89.9	127.8
Profit/(loss) for the period	120.2	(853.7)	(185.5)
Adjusted EBITDA	853	(50.8)	653.3
Attributable to:
Owners of the parent	120.2	(853.7)	(185.5)
Sustaining capital expenditure	(93.1)	(70.5)	(82.6)
Ore reserve development	(321.7)	(233.2)	(396.9)
Growth projects	(0.2)	(2.1)	(1.7)
Total capital expenditure	(415)	(305.8)	(481.2)
Operating segments | South Africa Region [Member] | Beatrix | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	4,499.8	3,576.9	4,467.8
Cost of sales, before amortisation and depreciation	(3,616.3)	(3,525.3)	(3,841)
Operating segments | South Africa Region [Member] | Beatrix | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	164	221.3	133.5
Cost of sales, before amortisation and depreciation	(97.5)	(143.9)	(69.8)
Operating segments | South Africa Region [Member] | Cooke
SEGMENT REPORTING
Revenue	1,039.6	828.4	841.8
Cost of sales, before amortisation and depreciation	(671)	(617.3)	(693.4)
Net other cash costs	(641.7)	(568.6)	(573.4)
Amortisation and depreciation	(13.6)	(15.1)	(5.7)
Interest income	45.4	39.8	41.7
Finance expense	(100.4)	(73.7)	(78.1)
Net other costs	35.9	(113.9)	(106.2)
Non-underlying items	(3.6)	(6.9)	(50.6)
Royalties and carbon tax	5.2	4.1	4.2
Current taxation			0.8
Profit/(loss) for the period	(314.6)	(531.4)	(627.3)
Adjusted EBITDA	(273.1)	(357.5)	(425)
Attributable to:
Owners of the parent	(314.6)	(531.4)	(627.3)
Operating segments | South Africa Region [Member] | Cooke | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue		21.2	45.9
Cost of sales, before amortisation and depreciation	0.2	(16.6)	(13)
Operating segments | South Africa Region [Member] | Cooke | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	1,039.6	807.2	795.9
Cost of sales, before amortisation and depreciation	(671.2)	(600.7)	(680.4)
Operating segments | South Africa Region [Member] | DRD Gold Segment [Member]
SEGMENT REPORTING
Revenue	5,051	3,621	1,047.5
Cost of sales, before amortisation and depreciation	(2,922.4)	(2,736.3)	(1,020)
Net other cash costs	(43.7)	(30.7)	8.7
Amortisation and depreciation	(202.4)	(172.1)	(57.9)
Interest income	178.2	64.5	26.1
Finance expense	(57.9)	(73)	(33)
Share-based payments	(140.6)	(64.2)	(3.2)
Net other costs	30.4	81.6	(419.1)
Non-underlying items	(1.6)	4.3	(4.6)
Royalties and carbon tax	0.3
Current taxation	(491.6)	(69.1)	(3)
Deferred taxation	(97)	(129.9)	(132)
Profit/(loss) for the period	1,302.1	496.1	(590.5)
Adjusted EBITDA	2,084.9	854	36.2
Attributable to:
Owners of the parent	659.4	188.7	(565.8)
Non-controlling interests	642.7	307.4	(24.7)
Sustaining capital expenditure	(294.9)	(42.8)	(14.5)
Growth projects	(46.2)	(39)	(303.3)
Total capital expenditure	(341.1)	(81.8)	(317.8)
Operating segments | South Africa Region [Member] | DRD Gold Segment [Member] | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	5,051	3,621	1,047.5
Cost of sales, before amortisation and depreciation	(2,922.4)	(2,736.3)	(1,020)
Material reconciling items [member]
SEGMENT REPORTING
Revenue	(543.1)	(161.7)	(26.7)
Finance expense	(322.1)	(310.8)	(160.3)
Non-underlying items	(72.3)	(369)	(168.5)
Current taxation	(45.1)
Profit/(loss) for the period	(982.6)	(841.5)	(355.5)
Adjusted EBITDA	(543.1)	(161.7)	(26.7)
Attributable to:
Owners of the parent	(982.6)	(841.5)	(355.5)
Material reconciling items [member] | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	(543.1)	(161.7)	(26.7)
Material reconciling items [member] | South Africa Region [Member] | Platinum
SEGMENT REPORTING
Revenue	(5,198.5)	(2,342.6)	(1,857.5)
Cost of sales, before amortisation and depreciation	2,905.1	1,336.3	1,235.7
Net other cash costs	(1.9)	7.2	5.9
Amortisation and depreciation	277.4	214.1	187.7
Interest income	(2.5)	(0.3)	1.6
Finance expense	2,588.7	1,154.4	1,611.7
Net other costs	2,847.2	9,992.1	(3,750.8)
Non-underlying items		26.4	0.6
Royalties and carbon tax	(135.3)	(77.1)	(57.6)
Current taxation	447.1	134.8	102.3
Deferred taxation	42.9	6.9	30.9
Profit/(loss) for the period	4,040.8	10,606.4	(2,374.3)
Adjusted EBITDA	(2,295.3)	(999.1)	(615.9)
Attributable to:
Owners of the parent	4,041	10,607.3	(2,374.3)
Non-controlling interests	(0.2)	(0.9)
Sustaining capital expenditure	413.7	342.7	170.9
Total capital expenditure	413.7	342.7	170.9
Material reconciling items [member] | South Africa Region [Member] | Platinum | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	(5,110.9)	(2,342.6)	(1,857.5)
Cost of sales, before amortisation and depreciation	2,817.5	1,336.3	1,235.7
Material reconciling items [member] | South Africa Region [Member] | Platinum | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	(87.6)
Cost of sales, before amortisation and depreciation	87.6
Material reconciling items [member] | South Africa Region [Member] | Gold
SEGMENT REPORTING
Revenue	525.9	285	(76.8)
Net other cash costs	(95.8)	(149.9)	100.9
Amortisation and depreciation	(61.8)	(60.9)	(26.4)
Interest income	179.6	20.6	41.3
Finance expense	(538.3)	(593.3)	(19.4)
Share-based payments	(135.2)	(245.7)	(260.3)
Net other costs	(1,792.3)	(3,450.5)	3,545.1
Non-underlying items	(1,443.2)	(62.6)	(560.8)
Royalties and carbon tax	(94.5)
Current taxation	4.3	46.9	(47)
Deferred taxation	980.9	1,946.1	(232)
Profit/(loss) for the period	(2,281.4)	(2,264.3)	2,464.6
Adjusted EBITDA	430.1	135.1	24.1
Attributable to:
Owners of the parent	(2,282.5)	(2,266)	2,463.7
Non-controlling interests	1.1	1.7	0.9
Sustaining capital expenditure			(0.8)
Growth projects	(42.1)	(64.7)	(200.3)
Total capital expenditure	(42.1)	(64.7)	(201.1)
Material reconciling items [member] | South Africa Region [Member] | Gold | Market For Mine Output, Underground Source [Member]
SEGMENT REPORTING
Revenue	510.4	278.2	R (76.8)
Material reconciling items [member] | South Africa Region [Member] | Gold | Market For Mine Output, Surface Source [Member]
SEGMENT REPORTING
Revenue	R 15.5	R 6.8

REVENUE (Details)

REVENUE (Details) R in Millions

Oct. 21, 2019ZAR (R)

Apr. 11, 2019USD ($)

Apr. 11, 2019ZAR (R)

Sep. 19, 2018USD ($)

Jul. 25, 2018USD ($)

Jul. 25, 2018ZAR (R)

Jul. 31, 2018USD ($)

Dec. 31, 2020USD ($)R / $

Dec. 31, 2020ZAR (R)R / $

Dec. 31, 2019ZAR (R)

Dec. 31, 2018ZAR (R)

Dec. 31, 2016USD ($)

Jun. 10, 2019ZAR (R)

Disclosure of disaggregation of revenue from contracts with customers [line items]

Deferred revenue advance received

R 1,100

$ 125,000,000

R 1,750

$ 500,000,000

R 770.6

R 2,859.3

R 6,555.4

Revenue from contracts with customers

126,173.1

72,124.2

50,036.2

Adjustments relating to sales of PGM concentrate

1,219.3

801.2

620.2

Total revenue

127,392.4

72,925.4

50,656.4

Revenue from largest customer

49,455

30,598

Revenue from second largest customer

R 15,234

Average foreign exchange rate | R / $

16.46

16.46

Wheaton Precious Metals International [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

4.50%

4.50%

Deferred revenue advance received

$ 500,000,000

R 6,555.4

Additional monthly amounts receivable, as a percent

18.00%

18.00%

BTT streaming revenue

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

23.00%

23.00%

Deferred revenue advance received | $

$ 500,000,000

$ 50,000,000

Additional monthly amounts receivable, as a percent

20.00%

20.00%

Deferred income recognised as of acquisition date

R 627.6

Gold

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

R 28,929.8

18,882.1

21,434.2

Gold | Wheaton Precious Metals International [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

100.00%

100.00%

PGM

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

R 95,572.5

51,504.9

27,545.7

Platinum

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

17,053.9

13,013.2

9,233.9

Palladium

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

R 47,280.9

28,031

15,282.3

Palladium | Wheaton Precious Metals International [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

4.50%

4.50%

Rhodium

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

R 29,865.1

9,338.1

2,236

Iridium

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

814.5

649.6

442.9

Ruthenium

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

558.1

473

350.6

Chrome

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

1,572.7

1,749.3

1,128.9

Other Product

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

1,317.4

789.1

547.6

Goods or services transferred at point in time [member] | Gold

Disclosure of disaggregation of revenue from contracts with customers [line items]

Revenue from contracts with customers

27,868.8

18,644.2

19,656.7

Goods or services transferred at point in time [member] | PGM

Disclosure of disaggregation of revenue from contracts with customers [line items]

Revenue from contracts with customers

72,469.3

38,418.4

22,735.2

Streaming agreements (over time)

Disclosure of disaggregation of revenue from contracts with customers [line items]

Revenue from contracts with customers

538.5

540.4

201.6

Market For Recycled Products [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

25,296.5

14,521.2

7,442.7

Market For Recycled Products [Member] | Goods or services transferred at point in time [member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Revenue from contracts with customers

R 25,296.5

14,521.2

7,442.7

Currency risk

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percentage decrease in risk assumption

1.00%

1.00%

Increase in adjusted EBITDA due to decrease in exchange rate

R 77.8

Minimum

Disclosure of disaggregation of revenue from contracts with customers [line items]

Period between provisional invoicing and final pricing

1 month

1 month

Minimum | BTT streaming revenue

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

23.00%

23.00%

Additional monthly amounts receivable, as a percent

16.00%

16.00%

Basket price per oz | $

$ 106

Minimum | PGM | BTT streaming revenue

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

23.00%

Maximum

Disclosure of disaggregation of revenue from contracts with customers [line items]

Period between provisional invoicing and final pricing

4 months

4 months

Maximum | BTT streaming revenue

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

38.00%

38.00%

Additional monthly amounts receivable, as a percent

20.00%

20.00%

Basket price per oz | $

$ 280

Maximum | PGM | BTT streaming revenue

Disclosure of disaggregation of revenue from contracts with customers [line items]

Percent of production covered by agreement

38.00%

South Africa Region [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

R 82,781.4

46,222.6

34,810.3

South Africa Region [Member] | Gold

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

27,868.8

18,644.2

19,656.7

Revenue from largest customer

7,371

South Africa Region [Member] | Platinum

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

54,912.6

27,578.4

15,153.6

Revenue from largest customer

13,881

US Region/ Stillwater

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

45,154.1

26,864.5

15,872.8

Revenue from largest customer

11,809

US Region/ Stillwater | Market For Recycled Products [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

25,296.5

14,521.2

7,442.7

UNITED STATES

Disclosure of disaggregation of revenue from contracts with customers [line items]

Total revenue

R 44,611

R 26,702.8

R 15,846.1

COST OF SALES (Details)

COST OF SALES (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of performance obligations [line items]
Salaries and wages	R (23,850.6)	R (21,215.6)	R (15,710.3)
Consumable stores	(16,404)	(12,784.3)	(9,327.9)
Utilities	(6,800.9)	(6,089.3)	(5,049.2)
Mine contracts	(3,789.9)	(3,566.4)	(3,197.6)
Other	(4,663.7)	(1,878)	(4,564)
Ore reserve development costs capitalised	4,150.2	3,401.8	3,530.3
Cost of sales, before amortisation and depreciation	(75,776.4)	(56,100.4)	(41,515.2)
Amortisation and depreciation	(7,592.4)	(7,214.1)	(6,613.8)
Total cost of sales	(83,368.8)	(63,314.5)	(48,129)
Cost of providing defined contribution retirement benefits	1,351	1,233.7	919.1
Market For Recycled Products [Member]
Disclosure of performance obligations [line items]
Cost of sales, before amortisation and depreciation	R (24,417.5)	R (13,968.6)	R (7,196.5)

INTEREST INCOME AND FINANCE E_3

INTEREST INCOME AND FINANCE EXPENSE (Details) R in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Dec. 31, 2020USD ($)	Dec. 31, 2020ZAR (R)	May 31, 2018ZAR (R)	Nov. 15, 2016ZAR (R)	Jul. 01, 2014USD ($)	Jul. 01, 2014ZAR (R)
Disclosure of detailed information about borrowings [line items]
Interest received on cash deposits	R 714.1	R 264	R 172.4
Interest received on rehabilitation funds	245.1	265.5	223.5
Interest on right of recovery assets	16	15.8	14.1
Other	90.2	15.1	72.1
Interest income	1,065.4	560.4	482.1
Finance expense
Borrowings - interest	(1,289.9)	(1,444.9)	(1,572.5)
Borrowings - accrued interest and unwinding of amortised cost	(393.2)	(374.4)	(538.3)
Lease liabilities	(33.9)	(33.9)
Environmental rehabilitation obligation	(683.8)	(578.7)	(398.8)
Occupational healthcare obligation	(96.3)	(115.5)	(105.4)
Deferred payment	(186.8)	(179)	(200.4)
Dissenting shareholders		(21.2)	(68.1)
Deferred revenue	(349.2)	(352.3)	(160.3)
Deferred consideration	(49.1)	(40.5)
Other	(69.6)	(162.1)	(90.9)
Total finance expense	(3,151.8)	(3,302.5)	(3,134.7)
Platinum
Finance expense
Borrowings - interest	(14.5)
Streaming agreements (over time)
Finance expense
Borrowings - interest	(322.1)
BTT streaming revenue
Finance expense
Discount rate used in current estimate of value in use				11.50%	11.50%
BTT streaming revenue | Streaming agreements (over time)
Finance expense
Borrowings - interest	(12.6)	(41.5)
Wheaton Precious Metals International [Member] | Gold
Finance expense
Discount rate used in current estimate of value in use				5.20%	5.20%
Wheaton Precious Metals International [Member] | Palladium
Finance expense
Discount rate used in current estimate of value in use				4.60%	4.60%
Wheaton Precious Metals International [Member] | Streaming agreements (over time)
Finance expense
Borrowings - interest	(322.1)	(310.8)	(160.3)
US$600 million RCF
Disclosure of detailed information about borrowings [line items]
Face amount of debt				$ 600		R 600
R6.0 billion revolving credit facility
Disclosure of detailed information about borrowings [line items]
Face amount of debt		6,000			R 6,000		R 6,000
R4.5 billion facilities
Disclosure of detailed information about borrowings [line items]
Face amount of debt							R 4,500
US$350 million revolving credit facility
Disclosure of detailed information about borrowings [line items]
Face amount of debt						R 350
Burnstone Debt
Disclosure of detailed information about borrowings [line items]
Face amount of debt								$ 178.1	R 1,883.9
Finance expense
Borrowings - accrued interest and unwinding of amortised cost	R (147.8)	(120.1)	(152.9)
Other borrowings
Finance expense
Borrowings - accrued interest and unwinding of amortised cost		R (9.6)	R (2.9)

SHARE BASED PAYMENTS - Equity s

SHARE BASED PAYMENTS - Equity settled, 2017 and 2013 Plans (Details)	12 Months Ended
	Dec. 31, 2020companytrancheitemshares	Dec. 31, 2019R / shares	Dec. 31, 2018R / shares
SHARE-BASED PAYMENTS
Percentage of actual annual cash bonus	60.00%
Sibanye Stillwater 2017 Share Plan [Member]
SHARE-BASED PAYMENTS
Shares authorized | shares	86,748,850
Maximum shares allowed per individual participant | shares	8,674,885
TSR Weighting percentage	70.00%
Number of peer-group companies | company	8
ROCE Weighting percentage	30.00%
ROCE incremental increase (as a percent)	6.00%
Sibanye Stillwater 2017 Share Plan [Member] | Minimum
SHARE-BASED PAYMENTS
Percentile on peer group TSR curve (as a percent)	0.00%
Sibanye Stillwater 2017 Share Plan [Member] | Maximum
SHARE-BASED PAYMENTS
Percentile on peer group TSR curve (as a percent)	100.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 0%
SHARE-BASED PAYMENTS
Vesting percentage	0.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 10%
SHARE-BASED PAYMENTS
Vesting percentage	0.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 20%
SHARE-BASED PAYMENTS
Vesting percentage	0.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 30%
SHARE-BASED PAYMENTS
Vesting percentage	5.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 40%
SHARE-BASED PAYMENTS
Vesting percentage	20.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 50%
SHARE-BASED PAYMENTS
Vesting percentage	35.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 60%
SHARE-BASED PAYMENTS
Vesting percentage	55.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 70%
SHARE-BASED PAYMENTS
Vesting percentage	75.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 80%
SHARE-BASED PAYMENTS
Vesting percentage	90.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 90%
SHARE-BASED PAYMENTS
Vesting percentage	100.00%
Sibanye Stillwater 2017 Share Plan [Member] | TSR at 100%
SHARE-BASED PAYMENTS
Vesting percentage	100.00%
Sibanye Stillwater 2017 Share Plan [Member] | ROCE Ke
SHARE-BASED PAYMENTS
Vesting percentage	0.00%
Sibanye Stillwater 2017 Share Plan [Member] | ROCE at Ke + 1%
SHARE-BASED PAYMENTS
Vesting percentage	16.70%
Sibanye Stillwater 2017 Share Plan [Member] | ROCE at Ke + 2%
SHARE-BASED PAYMENTS
Vesting percentage	33.30%
Sibanye Stillwater 2017 Share Plan [Member] | ROCE at Ke + 3%
SHARE-BASED PAYMENTS
Vesting percentage	50.00%
Sibanye Stillwater 2017 Share Plan [Member] | ROCE at Ke + 4%
SHARE-BASED PAYMENTS
Vesting percentage	66.70%
Sibanye Stillwater 2017 Share Plan [Member] | ROCE at Ke + 5%
SHARE-BASED PAYMENTS
Vesting percentage	83.30%
Sibanye Stillwater 2017 Share Plan [Member] | ROCE at Ke + 6%
SHARE-BASED PAYMENTS
Vesting percentage	100.00%
Sibanye 2017 Share Plan - Bonus Shares [Member]
SHARE-BASED PAYMENTS
Percent of bonus paid in shares	40.00%
Number of forfeitable share tranches | tranche	2
Vesting period of first part of share award	9 months
Vesting period of second part of share award	18 months
Share price period for determination of number of shares awarded	3 days
Weighted average historical volatility			50.35%
Weighted average fair value per share		R 15.58	R 11.43
Sibanye 2017 Share Plan - Bonus Shares [Member] | Minimum
SHARE-BASED PAYMENTS
Expected term		9 months	9 months
Expected dividend yield			2.14%
Risk-free interest rate		7.07%	6.87%
Sibanye 2017 Share Plan - Bonus Shares [Member] | Maximum
SHARE-BASED PAYMENTS
Expected term		18 months	18 months
Expected dividend yield			2.30%
Risk-free interest rate		7.06%	6.77%
Weighted average share price, share options granted			R 11.43
Sibanye Stillwater 2017 Share Plan - Performance Shares [Member]
SHARE-BASED PAYMENTS
Vesting period of first part of share award	3 years
Performance period	3 years
Number of performance criteria | item	2
Forfeiture percentage	20.00%
Weighted average historical volatility		54.82%	55.71%
Expected term		3 years	3 years
Expected dividend yield		1.22%	3.64%
Risk-free interest rate		7.19%	6.90%
Weighted average fair value per share		R 11.17	R 6.86
Sibanye Stillwater 2017 Share Plan - Performance Shares [Member] | Minimum
SHARE-BASED PAYMENTS
Vesting percentage	0.00%
Sibanye Stillwater 2017 Share Plan - Performance Shares [Member] | Maximum
SHARE-BASED PAYMENTS
Vesting percentage	100.00%
2013 Share Plan
SHARE-BASED PAYMENTS
Number of methods of participation | item	2

SHARE BASED PAYMENTS - Equity_2

SHARE BASED PAYMENTS - Equity settled, 2017 and 2013 Plan Activity (Details)	12 Months Ended
	Dec. 31, 2020EquityInstrumentsZAR (R)	Dec. 31, 2019EquityInstrumentsZAR (R)	Dec. 31, 2018EquityInstrumentsZAR (R)
Sibanye 2017 Share Plan - Bonus Shares [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	2,582,489	3,269,210
Number of instruments, granted		3,994,507	5,977,437
Vested and paid	(2,541,680)	(5,823,174)	(2,348,445)
Forfeited	(40,809)	1,141,946	(359,782)
Instruments outstanding, end of period		2,582,489	3,269,210
Sibanye Stillwater 2017 Share Plan - Performance Shares [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	68,236,442	48,535,348	12,953,888
Number of instruments, granted		30,512,439	41,103,872
Vested and paid	(1,005,668)		(1,457,586)
Forfeited	(4,633,349)	(10,811,345)	(4,064,826)
Instruments outstanding, end of period	62,597,425	68,236,442	48,535,348
2013 Share Plan - Performance shares
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period | EquityInstruments	11,157,460	15,215,982	19,379,386
Vested and paid | EquityInstruments	(5,055,647)	(467,017)	(2,523,162)
Forfeited | EquityInstruments	(6,101,813)	(3,591,505)	(1,640,242)
Instruments outstanding, end of period | EquityInstruments		11,157,460	15,215,982
2013 Share Plan - Bonus shares
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period | EquityInstruments			446,469
Vested and paid | EquityInstruments			(415,579)
Forfeited | EquityInstruments			(30,890)

SHARE BASED PAYMENTS - Equity_3

SHARE BASED PAYMENTS - Equity settled, Directors and Prescribed Officers 2017 and 2013 Plans (Details)	12 Months Ended
	Dec. 31, 2020ZAR (R)EquityInstrumentsR / $R / shares	Dec. 31, 2019EquityInstrumentsZAR (R)	Dec. 31, 2018EquityInstrumentsZAR (R)
SHARE-BASED PAYMENTS
Average foreign exchange rate | R / $	16.46
Neal Froneman
SHARE-BASED PAYMENTS
Average foreign exchange rate | R / $	16.46
Chris Bateman
SHARE-BASED PAYMENTS
Average foreign exchange rate | R / $	16.46
2013 Share Plan - Bonus shares
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period | EquityInstruments			446,469
Number of instruments, exercised | EquityInstruments			415,579
Number of instruments, forfeited | EquityInstruments			30,890
2013 Share Plan - Performance shares
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period | EquityInstruments	11,157,460	15,215,982	19,379,386
Number of instruments, exercised | EquityInstruments	5,055,647	467,017	2,523,162
Number of instruments, forfeited | EquityInstruments	6,101,813	3,591,505	1,640,242
Instruments outstanding, end of period | EquityInstruments		11,157,460	15,215,982
Sibanye Stillwater 2017 Share Plan - Performance Shares [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	68,236,442	48,535,348	12,953,888
Number of instruments, granted		30,512,439	41,103,872
Number of instruments, exercised	1,005,668		1,457,586
Number of instruments, forfeited	4,633,349	10,811,345	4,064,826
Instruments outstanding, end of period	62,597,425	68,236,442	48,535,348
Sibanye Stillwater 2020 Share Plan [Member] | Neal Froneman
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	1,736,343
Number of instruments, exercised	102,710
Average price of instruments exercised | R / shares	R 57.20
Instruments outstanding, end of period	1,633,633	0
Sibanye Stillwater 2020 Share Plan [Member] | Charl Keyter
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	776,882
Number of instruments, exercised	47,734
Average price of instruments exercised | R / shares	R 55.85
Instruments outstanding, end of period	729,148	0
Sibanye Stillwater 2020 Share Plan [Member] | Chris Bateman
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	790,804
Number of instruments, exercised	83,596
Average price of instruments exercised | R / shares	R 54.28
Number of instruments, forfeited	672,288
Instruments outstanding, end of period	34,920	0
Sibanye Stillwater 2020 Share Plan [Member] | Shadwick Bessit [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	489,363
Number of instruments, exercised	31,085
Average price of instruments exercised | R / shares	R 55.85
Instruments outstanding, end of period	458,278	0
Sibanye Stillwater 2020 Share Plan [Member] | Hartley Dikgale
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	240,241
Number of instruments, exercised	5,103
Average price of instruments exercised | R / shares	R 22.65
Number of instruments, forfeited	233,492
Instruments outstanding, end of period	1,646	0
Sibanye Stillwater 2020 Share Plan [Member] | Dawie Mostert
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	431,942
Number of instruments, exercised	26,844
Average price of instruments exercised | R / shares	R 55.85
Instruments outstanding, end of period	405,098	0
Sibanye Stillwater 2020 Share Plan [Member] | Themba Nkosi
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	349,669
Number of instruments, exercised	23,170
Average price of instruments exercised | R / shares	R 55.85
Instruments outstanding, end of period	326,499	0
Sibanye Stillwater 2020 Share Plan [Member] | Wayne Robinson
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	419,040
Number of instruments, exercised	28,103
Average price of instruments exercised | R / shares	R 55.85
Instruments outstanding, end of period	390,937	0
Sibanye Stillwater 2020 Share Plan [Member] | Richard Stewart
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	434,990
Number of instruments, exercised	27,033
Average price of instruments exercised | R / shares	R 55.85
Instruments outstanding, end of period	407,957	0
Sibanye Stillwater 2020 Share Plan [Member] | Robert Van Niekerk
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	698,830
Number of instruments, exercised	43,656
Average price of instruments exercised | R / shares	R 55.85
Instruments outstanding, end of period	655,174	0
Sibanye 2017 and 2013 Share Plans [Member] | Neal Froneman
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	9,647,563
Number of instruments, exercised	827,687
Average price of instruments exercised | R / shares	R 38.78
Share proceeds from instruments	R 32,095,618
Number of instruments, forfeited	1,452,461
Instruments outstanding, end of period	7,367,415	9,647,563
Sibanye 2017 and 2013 Share Plans [Member] | Charl Keyter
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	4,689,446
Number of instruments, exercised	416,220
Average price of instruments exercised | R / shares	R 38.22
Share proceeds from instruments	R 15,909,215
Number of instruments, forfeited	736,054
Instruments outstanding, end of period	3,537,172	4,689,446
Sibanye 2017 and 2013 Share Plans [Member] | Chris Bateman
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	3,976,014
Number of instruments, exercised	1,055,727
Average price of instruments exercised | R / shares	R 52.51
Share proceeds from instruments	R 55,433,322
Number of instruments, forfeited	2,092,683
Instruments outstanding, end of period	827,604	3,976,014
Sibanye 2017 and 2013 Share Plans [Member] | Shadwick Bessit [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	1,928,857
Number of instruments, exercised	214,249
Average price of instruments exercised | R / shares	R 37.45
Share proceeds from instruments	R 8,024,436
Number of instruments, forfeited	394,887
Instruments outstanding, end of period	1,319,721	1,928,857
Sibanye 2017 and 2013 Share Plans [Member] | Hartley Dikgale
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	2,155,964
Number of instruments, exercised	833,284
Average price of instruments exercised | R / shares	R 33.46
Share proceeds from instruments	R 27,882,245
Number of instruments, forfeited	1,322,680
Instruments outstanding, end of period		2,155,964
Sibanye 2017 and 2013 Share Plans [Member] | Dawie Mostert
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	2,462,548
Number of instruments, exercised	236,036
Average price of instruments exercised | R / shares	R 38.11
Share proceeds from instruments	R 8,996,232
Number of instruments, forfeited	419,915
Instruments outstanding, end of period	1,806,597	2,462,548
Sibanye 2017 and 2013 Share Plans [Member] | Themba Nkosi
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	2,163,196
Number of instruments, exercised	221,755
Average price of instruments exercised | R / shares	R 37.65
Share proceeds from instruments	R 8,350,171
Number of instruments, forfeited	395,503
Instruments outstanding, end of period	1,545,938	2,163,196
Sibanye 2017 and 2013 Share Plans [Member] | Wayne Robinson
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	2,579,947
Number of instruments, exercised	260,536
Average price of instruments exercised | R / shares	R 37.81
Share proceeds from instruments	R 9,850,640
Number of instruments, forfeited	471,210
Instruments outstanding, end of period	1,848,201	2,579,947
Sibanye 2017 and 2013 Share Plans [Member] | Richard Stewart
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	2,957,219
Number of instruments, exercised	302,063
Average price of instruments exercised | R / shares	R 37.26
Share proceeds from instruments	R 11,253,941
Number of instruments, forfeited	562,512
Instruments outstanding, end of period	2,092,644	2,957,219
Sibanye 2017 and 2013 Share Plans [Member] | Robert Van Niekerk
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	3,924,717
Number of instruments, exercised	313,281
Average price of instruments exercised | R / shares	R 38.28
Share proceeds from instruments	R 11,990,926
Number of instruments, forfeited	633,725
Instruments outstanding, end of period	2,977,711	3,924,717

SHARE BASED PAYMENTS - Equity_4

SHARE BASED PAYMENTS - Equity settled, DRD Gold (Details)	12 Months Ended
	Dec. 31, 2020itemR / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	3 years
D R D Gold Equity Settled Scheme [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percent of award in performance shares	80.00%
Percent of award in retention shares	20.00%
Exercise price per share | R / shares	R 0
Number of vesting tranches | item	2
Percent vesting in each tranche	50.00%
Percentage vesting upon satisfaction of criteria	100.00%

SHARE BASED PAYMENTS - Cash set

SHARE BASED PAYMENTS - Cash settled, 2020 Plan (Details)	12 Months Ended
	Dec. 31, 2020ZAR (R)$ / shares	Dec. 31, 2020ZAR (R)R / shares
Sibanye Stillwater 2020 Share Plan Conditional Shares [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0	0
Number of instruments, granted	16,199,788	16,199,788
Vested and paid	(10,891)	(10,891)
Forfeited	(868,913)	(868,913)
Instruments outstanding, end of period	15,319,984	15,319,984
Weighted average historical volatility	70.10%	70.10%
Expected term	36 months	36 months
Expected dividend yield	7.82%	7.82%
Risk-free interest rate	3.62%	3.62%
Weighted average share price | R / shares		R 60
Weighted average fair value per share | R / shares		R 40.38
Sibanye Stillwater 2020 Share Plan Forfeitable Shares [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0	0
Number of instruments, granted	1,985,819	1,985,819
Vested and paid	(965,294)	(965,294)
Forfeited	(70,305)	(70,305)
Instruments outstanding, end of period	950,220	950,220
Weighted average share price | (per share)	$ 15.89	R 60
Weighted average fair value per share | R / shares		R 67.72
Minimum | Sibanye Stillwater 2020 Share Plan Forfeitable Shares [Member]
SHARE-BASED PAYMENTS
Expected term	9 months	9 months
Maximum | Sibanye Stillwater 2020 Share Plan Forfeitable Shares [Member]
SHARE-BASED PAYMENTS
Expected term	18 months	18 months
South Africa Region [Member] | Sibanye Stillwater 2020 Share Plan Forfeitable Shares [Member]
SHARE-BASED PAYMENTS
Expected dividend yield	6.66%	6.66%
Risk-free interest rate	3.40%	3.40%
US Region/ Stillwater | Sibanye Stillwater 2020 Share Plan Forfeitable Shares [Member]
SHARE-BASED PAYMENTS
Expected dividend yield	12.92%	12.92%
Risk-free interest rate	0.14%	0.14%

SHARE BASED PAYMENTS - Cash s_2

SHARE BASED PAYMENTS - Cash settled, Directors (Details)	12 Months Ended
	Dec. 31, 2020ZAR (R)EquityInstrumentsR / £R / $R / shares	Dec. 31, 2019ZAR (R)EquityInstruments	Dec. 31, 2018ZAR (R)EquityInstruments
SHARE-BASED PAYMENTS
Cash proceeds (to recipients)	R 274,500,000	R 90,900,000	R 21,700,000
Average foreign exchange rate | R / $	16.46
Neal Froneman
SHARE-BASED PAYMENTS
Average foreign exchange rate | R / $	16.46
Chris Bateman
SHARE-BASED PAYMENTS
Average foreign exchange rate | R / $	16.46
Laurent Charbonnier [Member]
SHARE-BASED PAYMENTS
Average foreign exchange rate | R / £	21.10
2013 Share Plan - Bonus shares
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period | EquityInstruments			446,469
Number of instruments, exercised | EquityInstruments			415,579
Number of instruments, forfeited | EquityInstruments			30,890
2013 Share Plan - Performance shares
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period | EquityInstruments	11,157,460	15,215,982	19,379,386
Number of instruments, exercised | EquityInstruments	5,055,647	467,017	2,523,162
Number of instruments, forfeited | EquityInstruments	6,101,813	3,591,505	1,640,242
Instruments outstanding, end of period | EquityInstruments		11,157,460	15,215,982
Sibanye Stillwater 2017 Share Plan - Performance Shares [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	68,236,442	48,535,348	12,953,888
Number of instruments, granted		30,512,439	41,103,872
Number of instruments, exercised	1,005,668		1,457,586
Number of instruments, forfeited	4,633,349	10,811,345	4,064,826
Instruments outstanding, end of period	62,597,425	68,236,442	48,535,348
Sibanye Stillwater 2020 Share Plan [Member] | Neal Froneman
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	1,736,343
Number of instruments, exercised	102,710
Average price of instruments exercised | R / shares	R 57.20
Cash proceeds (to recipients)	R 5,875,151
Instruments outstanding, end of period	1,633,633	0
Sibanye Stillwater 2020 Share Plan [Member] | Charl Keyter
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	776,882
Number of instruments, exercised	47,734
Average price of instruments exercised | R / shares	R 55.85
Cash proceeds (to recipients)	R 2,666,087
Instruments outstanding, end of period	729,148	0
Sibanye Stillwater 2020 Share Plan [Member] | Chris Bateman
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	790,804
Number of instruments, exercised	83,596
Average price of instruments exercised | R / shares	R 54.28
Cash proceeds (to recipients)	R 4,537,327
Number of instruments, forfeited	672,288
Instruments outstanding, end of period	34,920	0
Sibanye Stillwater 2020 Share Plan [Member] | Shadwick Bessit [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	489,363
Number of instruments, exercised	31,085
Average price of instruments exercised | R / shares	R 55.85
Cash proceeds (to recipients)	R 1,736,190
Instruments outstanding, end of period	458,278	0
Sibanye Stillwater 2020 Share Plan [Member] | Hartley Dikgale
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	240,241
Number of instruments, exercised	5,103
Average price of instruments exercised | R / shares	R 22.65
Cash proceeds (to recipients)	R 115,558
Number of instruments, forfeited	233,492
Instruments outstanding, end of period	1,646	0
Sibanye Stillwater 2020 Share Plan [Member] | Dawie Mostert
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	431,942
Number of instruments, exercised	26,844
Average price of instruments exercised | R / shares	R 55.85
Cash proceeds (to recipients)	R 1,499,318
Instruments outstanding, end of period	405,098	0
Sibanye Stillwater 2020 Share Plan [Member] | Themba Nkosi
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	349,669
Number of instruments, exercised	23,170
Average price of instruments exercised | R / shares	R 55.85
Cash proceeds (to recipients)	R 1,294,114
Instruments outstanding, end of period	326,499	0
Sibanye Stillwater 2020 Share Plan [Member] | Wayne Robinson
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	419,040
Number of instruments, exercised	28,103
Average price of instruments exercised | R / shares	R 55.85
Cash proceeds (to recipients)	R 1,569,637
Instruments outstanding, end of period	390,937	0
Sibanye Stillwater 2020 Share Plan [Member] | Richard Stewart
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	434,990
Number of instruments, exercised	27,033
Average price of instruments exercised | R / shares	R 55.85
Cash proceeds (to recipients)	R 1,509,874
Instruments outstanding, end of period	407,957	0
Sibanye Stillwater 2020 Share Plan [Member] | Laurent Charbonnier [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	138,895
Instruments outstanding, end of period	138,895	0
Sibanye Stillwater 2020 Share Plan [Member] | Lerato Legong [Member]
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	148,362
Instruments outstanding, end of period	148,362	0
Sibanye Stillwater 2020 Share Plan [Member] | Robert Van Niekerk
SHARE-BASED PAYMENTS
Instruments outstanding, beginning of period	0
Number of instruments, granted	698,830
Number of instruments, exercised	43,656
Average price of instruments exercised | R / shares	R 55.85
Cash proceeds (to recipients)	R 2,438,319
Instruments outstanding, end of period	655,174	0

SHARE BASED PAYMENTS - Cash s_3

SHARE BASED PAYMENTS - Cash settled, DRD Gold and BEE Transaction (Details) R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)item
SHARE-BASED PAYMENTS
Vesting period	3 years
Share-based payment on BEE transaction
SHARE-BASED PAYMENTS
Percentage of payment or distribution	26.00%
DRD Gold Cash Settled Scheme [Member]
SHARE-BASED PAYMENTS
Number of vesting tranches | item	3
Vesting period	5 years
Percentage vesting, tranche 1	20.00%
Percentage vesting, tranche 2	30.00%
Percentage vesting, tranche 3	50.00%
Sibanye Rustenburg Platinum Mines Proprietary Limited Subsidiary
SHARE-BASED PAYMENTS
Percentage of voting equity interests acquired	26.00%
Sibanye Rustenburg Platinum Mines Proprietary Limited Subsidiary | Share-based payment on BEE transaction
SHARE-BASED PAYMENTS
Percentage of voting equity interests acquired	26.00%
Incremental interest rate above highest cost of debt (as a percent)	0.20%
Percentage of payment or distribution	74.00%
Post payment used to service the facility (as a percent)	85.00%
Post payment declared as a dividend (as a percent)	15.00%
Post payment declared as a dividend after repayment (as a percent)	100.00%
Facility capped amount | R	R 3,500
Percentage of expense restricted	44.80%

SHARE BASED PAYMENTS - Cash s_4

SHARE BASED PAYMENTS - Cash settled, Obligations (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SHARE-BASED PAYMENTS
Balance at beginning of the year	R 1,425.1	R 225.7	R 434.5
Fair value (gain) / loss on obligations	128.6	1,217.9	(249.9)
Cash-settled share-based payments paid	(274.5)	(90.9)	(21.7)
Share-based payment obligation on acquisition of subsidiary			45.1
Foreign currency translation	(4.2)	(0.6)
Balance at end of the year	1,628.4	1,425.1	225.7
Current portion of share-based payment obligations	(33.1)	(82.1)	(56.8)
Cash-setttled share-based payment obligations, non-current	1,595.3	1,343	168.9
DRD Gold Cash Settled Scheme [Member]
SHARE-BASED PAYMENTS
Increase due to share-based payments expense	127.8	64.1	3.2
Share Based Plan Stillwater Cash Settled Scheme [Member]
SHARE-BASED PAYMENTS
Increase due to share-based payments expense	0.7	8.9	14.5
Share-based payment on BEE transaction
SHARE-BASED PAYMENTS
Balance at beginning of the year	1,367.6	149.7
Balance at end of the year	1,468.5	1,367.6	149.7
Share-Based Payment Arrangements Other Than BEE Transaction [Member]
SHARE-BASED PAYMENTS
Balance at beginning of the year	57.5	76
Increase due to share-based payments expense	353.4	73	17.7
Balance at end of the year	R 159.9	R 57.5	R 76

SHARE BASED PAYMENTS - Expense

SHARE BASED PAYMENTS - Expense (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SHARE-BASED PAYMENTS
Share-based payments	R (512.4)	R (363.3)	R (299.4)
Expense settled in cash	(354.4)	(73)	(17.7)
Expense settled with equity	(158)	(290.3)	(281.7)
Expense from movement in grant date fair value	120.3
Expense from movement in post grant date fair value	232.4
Sibanye Stillwater 2017 Share Plan [Member]
SHARE-BASED PAYMENTS
Share-based payments	(145.2)	(194.4)	(139.2)
2013 Share Plan
SHARE-BASED PAYMENTS
Share-based payments		(95.9)	(142.5)
D R D Gold Equity Settled Scheme [Member]
SHARE-BASED PAYMENTS
Share-based payments	(12.8)
DRD Gold Cash Settled Scheme [Member]
SHARE-BASED PAYMENTS
Share-based payments	(127.8)	(64.1)	(3.2)
Share Based Plan Stillwater Cash Settled Scheme [Member]
SHARE-BASED PAYMENTS
Share-based payments	(0.7)	R (8.9)	R (14.5)
Sibanye Stillwater 2020 Share Plan [Member]
SHARE-BASED PAYMENTS
Share-based payments	R (225.9)

(Loss)_gain on financial inst_3

(Loss)/gain on financial instruments (Details)

Jul. 06, 2020oz

Jul. 06, 2020ozkg

Oct. 21, 2019ozR / oz

Oct. 21, 2019kgR / oz

Apr. 11, 2019ozitem

Dec. 31, 2020ZAR (R)ozkgR / kg$ / oz

Dec. 31, 2019ZAR (R)

Dec. 31, 2018ZAR (R)

Jul. 06, 2020kg

Jul. 06, 2020ZAR (R)

Oct. 21, 2019ZAR (R)

Apr. 11, 2019kg

Apr. 11, 2019$ / oz

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

R (2,450,300,000)

R (6,015,100,000)

R 1,704,100,000

Quantity of hedged instrument

52,185.2

52,185.2

105,906

1,623.1

3,294

Nominal Amount Of Hedging Instrument Per Installment

6,523.2

202.9

8,482

263.8

26,476

Average Price

17,371

17,371

17,371

Number of forward contract deliveries | item

4

Minimum

(Loss)/gain on financial instruments

Average Price

27,700

1,200

Maximum

(Loss)/gain on financial instruments

Average Price

33,386

1,323

Gold

(Loss)/gain on financial instruments

Quantity of hedged instrument | kg

1,800

Nominal Amount Of Hedging Instrument Per Installment | kg

150

Gold | Minimum

(Loss)/gain on financial instruments

Average Price | R / kg

800,000

Gold | Maximum

(Loss)/gain on financial instruments

Average Price | R / kg

1,080,000

Palladium

(Loss)/gain on financial instruments

Quantity of hedged instrument | oz

240,000

Term of agreement

2 years

Nominal Amount Of Hedging Instrument Per Installment | oz

10,000

Palladium | Minimum

(Loss)/gain on financial instruments

Average Price | $ / oz

1,500

Palladium | Maximum

(Loss)/gain on financial instruments

Average Price | $ / oz

3,400

Derivative financial instrument | Derivatives [member]

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

R (70,200,000)

(3,911,500,000)

678,100,000

Derivative financial instrument | Gold | Forward contract

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

(457,600,000)

(110,100,000)

(180,600,000)

Loss recognised on sale of forward contract

(525,900,000)

(284,600,000)

76,900,000

Unrealised gain (loss) on forward Contract

68,300,000

174,500,000

(257,500,000)

Derivative financial instrument | Palladium | Forward contract

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

36,100,000

Unrealised gain (loss) on forward Contract

36,100,000

Share-based payment arrangements [member]

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

(128,600,000)

(1,217,900,000)

249,900,000

Cash flow of the Deferred Payment

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

(2,081,000,000)

(724,100,000)

150,600,000

Cash flow of the Burnstone Debt

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

264,300,000

(96,600,000)

804,600,000

Foreign currency hedge

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

25,300,000

Other

(Loss)/gain on financial instruments

Total (loss)/gain on financial instruments

R (13,300,000)

R 45,100,000

R (23,800,000)

OTHER COSTS (Details)

OTHER COSTS (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OTHER COSTS
Care and maintenance	R (814.4)	R (765.9)	R (576.5)
Change in estimate of environmental rehabilitation obligation, and right of recovery receivable and payable	464.1	(88.9)	66.6
Loss due to dilution of interst in joint operation	(30.2)
Non-recurring COVID-19 costs	(97)
Corporate and social investment costs	(257.8)	(149.9)	(70.1)
Cost incurred on employee and community trusts	(507.8)	(50.3)
Exploration costs	(33)	(10.7)
Non-mining royalties	(193.4)	(87.5)	(104.7)
Strike related costs	(0.6)	(402.3)	(31.7)
Service entities cost	(501.1)	(403.7)	(193.6)
Other	(291.6)	(351.2)	(105.4)
Other expenses, total	(2,726.9)	(2,310.4)	(1,015.4)
Income on settlement of legal dispute	580
Change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable	464.1	(89.6)	90.4
Service entity income	382.9	263.8	296.5
Sundry income	230.4	220.4	13.7
Other income, total	R 1,657.4	R 484.2	R 310.2

RESTRUCTURING (Details)

RESTRUCTURING (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring [Line Items]
Expense of restructuring activities	R 436.2	R 1,252.4	R 142.8
Gold
Restructuring [Line Items]
Expense of restructuring activities	108.1	357	R 14.2
Marikana operations
Restructuring [Line Items]
Expense of restructuring activities	R 271.4	R 867

IMPAIRMENT (Details)

IMPAIRMENT (Details) - ZAR (R) R in Millions	6 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
IMPAIRMENTS
Reversal of impairment loss		R 2.3
Total reversal (impairment)		121.4	R (86)	R (3,041.4)
Rand Refinery
IMPAIRMENTS
(Impairments)			(119.6)	(119.6)
Reversal of impairment loss		119.6
Property, plant and equipment member
IMPAIRMENTS
(Impairments)		(0.5)	(5.1)	(2,603.3)
Property, plant and equipment member | Driefontein Assets [Member]
IMPAIRMENTS
(Impairments)	R 2,171.8
Property, plant and equipment member | Beatrix Assets [Member]
IMPAIRMENTS
(Impairments)	(166.9)
Property, plant and equipment member | Burnstone Assets [Member]
IMPAIRMENTS
(Impairments)				193.6
Goodwill
IMPAIRMENTS
(Impairments)			(54.3)	(436.3)
Goodwill | Driefontein Assets [Member]
IMPAIRMENTS
(Impairments)	166.9
Goodwill | Kloof Assets [Member]
IMPAIRMENTS
(Impairments)	(165.5)
Goodwill | Beatrix Assets [Member]
IMPAIRMENTS
(Impairments)	R (103.9)
Investment in equity-accounted investee
IMPAIRMENTS
(Impairments)			(14.3)	R (1.8)
Total reversal (impairment)		119.6	R (12.3)
Investment in equity-accounted investee | Rand Refinery
IMPAIRMENTS
Reversal of impairment loss		R 119.6

ROYALTIES, AND MINING AND INC_3

ROYALTIES, AND MINING AND INCOME TAX, AND DEFERRED TAX (Details) R in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018USD ($)	Dec. 31, 2018ZAR (R)
Royalties, and mining and income tax and deferred tax
Percentage to which refined	99.50%
Gross revenue factor, refined minerals	12.5
Gross revenue factor, unrefined minerals	9
Additional percentage used in calculating royalty	0.50%
Maximum royalty percentage introduced on refined minerals	5.00%
Maximum royalty percentage introduced on unrefined minerals	7.00%
Royalties	R (1,767.8)	R (431)		R (255.5)
Prior year tax refund	2.8			42.9
Total royalties	R (1,765)	(431)		(212.6)
Non-mining tax rate	28.00%
Total current tax	R (5,374.3)	(1,848.7)		(95.3)
Mining tax	(4,442.1)	(1,363.9)		(36.8)
Non-mining tax	68	3.1		(57.6)
Company and capital gains tax	(1,000.2)	(487.9)		(0.9)
Deferred tax	516.1	3,581.7		(988.5)
Deferred tax charge	570.1	2,030.7		306.7
Deferred tax rate adjustment	(54)	1,551		(1,295.2)
Total mining and income tax	R (4,858.2)	1,733		(1,083.8)
UNITED STATES
Royalties, and mining and income tax and deferred tax
Deferred tax rate adjustment		1,574.1		(1,544.7)
South Africa
Royalties, and mining and income tax and deferred tax
Company tax rate	28.00%
Deferred tax rate adjustment	R (54)	R (23.1)		R 249.5
Gold
Royalties, and mining and income tax and deferred tax
Effective rate of royalty tax payable	0.50%	0.40%	0.50%	0.50%
Royalties	R (142.3)	R (73.7)		R (93.5)
Deferred tax rate adjustment	R (54)	R (23.1)		R 249.5
Platinum
Royalties, and mining and income tax and deferred tax
Effective rate of royalty tax payable	3.00%	1.30%	1.10%	1.10%
Royalties	R (1,625.5)	R (357.3)		R (162)
Deferred tax rate adjustment		R 1,574.1	$ (107.7)	R (1,544.7)

ROYALTIES, AND MINING AND INC_4

ROYALTIES, AND MINING AND INCOME TAX - Rate reconciliation (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of average effective tax rate and applicable tax rate [abstract]
Tax on loss before tax at maximum South African statutory company tax rate	R (9,934.3)	R 364.1	R 402.3
South African mining tax formula rate adjustment	117.7	(192.6)	(53)
US statutory tax rate adjustment	550.3	205.4	19.4
Non-deductible amortisation and depreciation	(14.4)	(14.7)	(21.2)
Non-taxable dividend received	21	2.1	15.4
Non-deductible finance expense	89.4	(86.3)	(118.2)
Non-deductible share-based payments	(44.2)	(81.3)	(78.9)
(Non-deductible loss)/non-taxable gain on fair value of financial instruments	(890.3)	(571.1)	136.9
(Non-deductible loss)/non-taxable gain on foreign exchange differences	3.1		250.3
Non-taxable share of results of equity-accounted investees	475.9	201.9	96.4
Non-deductible impairments	33.5	(21.9)	(123.2)
Non-taxable gain on acquisition		308.8
Non-deductible transaction costs	(49.5)	(94.4)	(110)
Tax adjustment in respect of prior periods	133.1	12.4	51.4
Net other non-taxable income and non-deductible expenditure	257.7	533.5	121
Change in estimated deferred tax rate	(54)	1,551	(1,295.2)
Deferred tax assets not recognised	4,446.8	(383.9)	(377.2)
Total mining and income tax	R (4,858.2)	R 1,733	R (1,083.8)
Average effective tax rate	13.70%	133.30%	(75.40%)
Reversal of uncertain tax related to interest limitation	R 181.5
South Africa
Royalties, and mining and income tax and deferred tax
Applicable tax rate	28.00%

ROYALTIES, AND MINING AND INC_5

ROYALTIES, AND MINING AND INCOME TAX, AND DEFERRED TAX - Deferred Tax (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income tax
Deferred tax liabilities				R 7,631	R 6,656.8	R 10,153.2
Deferred tax assets				(1,576.4)	(288.9)	(76.9)
Net deferred tax liabilities	R 6,054.6	R 6,367.9	R 10,076.3	6,054.6	6,367.9	10,076.3
Reconciliation of the deferred tax balance:
Deferred tax liability (asset) at beginning of period	6,367.9	10,076.3	8,319
Deferred tax recognised in profit or loss	(516.1)	(3,581.7)	988.5
Deferred tax recognised in other comprehensive income	6.4		(22.8)
Deferred tax on acquisition of subsidiaries			132.2
Foreign currency translation	196.4	(126.7)	659.4
Deferred tax liability (asset) at end of period	6,054.6	R 6,367.9	R 10,076.3
Deferred tax assets				(7,024.6)	(4,282.6)	(2,060.5)
Deferred tax liabilities				13,079.2	10,650.5	12,136.8
Aggregate unrecognised due to exemption				25,955	12,075	7,897
Amount now recognised	R 951
Mine development, infrastructure and other
Reconciliation of the deferred tax balance:
Deferred tax liabilities				11,910.3	9,759.5	11,344.4
Environment rehabilitation obligation funds.
Reconciliation of the deferred tax balance:
Deferred tax assets				(1,704)	(1,109.2)	(989.2)
Deferred tax liabilities				962.2	682.3	507.7
Occupational healthcare obligation
Reconciliation of the deferred tax balance:
Deferred tax assets				(274.8)	(333.3)	(302.7)
Other
Reconciliation of the deferred tax balance:
Deferred tax liabilities				206.7	208.7	284.7
Other provisions
Reconciliation of the deferred tax balance:
Deferred tax assets				(1,144.4)	(482.4)	(442.8)
Financial instruments
Income tax
Deferred tax assets				(426.8)	(1,351.3)
Tax losses and unredeemed capital expenditure
Reconciliation of the deferred tax balance:
Deferred tax assets				(3,436.7)	(990.3)	(304.5)
Share-based payment obligation
Income tax
Deferred tax assets				R (37.9)	R (16.1)	R (21.3)

ROYALTIES, AND MINING AND INC_6

ROYALTIES, AND MINING AND INCOME TAX - Unrecognized (Details) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mining and income tax
Other deductible temporary differences	R 36,408	R 46,220.2	R 27,679.6

ROYALTIES, AND MINING AND INC_7

ROYALTIES, AND MINING AND INCOME TAX, AND DEFERRED TAX - Receivables and payables (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mining and income tax
Tax receivable				R (148)	R (355.1)	R (483.2)
Tax, carbon tax and royalties payable				796.3	508.9	88
Current tax liabilities, non-current				8.6	59.1
Tax and Royalties Payable, Current				787.7	449.8	88
Net tax, carbon tax and royalties payable/(receivable)	R 648.3	R 153.8	R (395.2)	R 648.3	R 153.8	R (395.2)
Reconciliation of the net tax, carbon tax and royalties payable/(receivable) balance:
Balance at beginning of the year	153.8	(395.2)	(147.9)
Royalties, carbon tax and current tax	7,144.5	2,292.6	307.9
Royalties and tax paid	(6,524.6)	(1,818.9)	(542.2)
Royalties paid	(1,706.6)	(411.5)	(234.4)
Tax (paid)/refund received	(4,818)	(1,407.4)	(307.8)
Tax payable on acquisition of subsidiaries		68.7	4.4
Other		18.6
Foreign currency translation	(125.4)	(12)	(17.4)
Balance at end of the year	R 648.3	R 153.8	R (395.2)

Earnings per share (Details)

Earnings per share (Details) - ZAR (R) R / shares in Units, shares in Thousands, R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted average number of shares
Ordinary shares in issue ('000)	2,923,571	2,670,030	2,266,261
Adjustment for weighting of ordinary shares in issue ('000)	(194,680)	(162,447)	(2,404)
Weighted average number of shares ('000)	2,728,891	2,507,583	2,263,857
(Loss)/profit attributable to owners of Sibanye-Stillwater (SA rand million)	R 29,311.9	R 62.1	R (2,499.6)
Basic earnings per share (EPS) (cents)	R 10.74	R 0.02	R (1.10)
Potential ordinary shares (000)	49,061	71,371
Diluted weighted average number of shares ('000)	2,777,952	2,578,954	2,263,857
Diluted basic EPS (cents)	R 10.55	R 0.02	R (1.10)
Gain on disposal of property, plant and equipment	R (98.8)	R (76.6)	R (60.2)
Gains on disposals of property plant and equipment, net of tax	(74)	(57.9)	(47.9)
Impairment loss (reversal of impairment loss) recognised in profit or loss	(121.4)	86	3,041.4
Impairments, net of tax	(121.5)	66.6	2,530.9
Impairment recognised by equity accounted associate		21
Impairment by equity method associate, net of tax		21
Gain on acquisition		(1,103)
Gain on acquisition, net of tax		(1,103)
Derecognition of property, plant and equipment	37
Derecognition of property, plant and equipment, net of tax	28
Re-measurement items, net of tax attributable to non-controlling interests	(1.1)	3
Headline earnings	R 29,145.5	R (1,008.2)	R (16.6)
Headline EPS - cents	R 10.68	R (0.40)	R (0.01)
Diluted headline EPS - cents	R 10.49	R (0.40)	R (0.01)

DIVIDENDS - Accounting Policy (

DIVIDENDS - Accounting Policy (Details) R / shares in Units, R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)R / shares
Dividends
Percentage of dividends withheld	20.00%
Dividend declared and paid | R	R 10,823.6
Dividend declared and paid, per share | R / shares	R 3.71
Final dividend declared and paid (per share) | R / shares	R 3.21
Final dividend declared and paid | R	R 9,485.5
Interim dividend declared and paid (per share) | R / shares	R 0.5
Interim dividend declared and paid | R	R 1,338.1

Dividends - Dividend Policy (De

Dividends - Dividend Policy (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dividends percentage	35.00%
(Loss)/profit attributable to the owners of Sibanye-Stillwater	R 29,311.9	R 62.1	R (2,499.6)
Adjusted for:
Loss/(gain) on financial instruments	2,450.3	6,015.1	(1,704.1)
Gain on foreign exchange differences	255	(325.5)	(1,169.1)
Gain on disposal of property, plant and equipment	(98.8)	(76.6)	(60.2)
Impairment loss (reversal of impairment loss) recognised in profit or loss	(121.4)	86	3,041.4
Gain on acquisition		(1,103)
Restructuring costs	436.2	1,252.4	142.8
Transaction costs	138.6	447.8	402.5
Gain on derecognition of borrowings and derivative instrument			(230)
Occupational healthcare expense	52.3	(39.6)	15.4
Loss on BTT early settlement	186.2
Income on settlement of legal dispute	(580)
Loss due to dilution of interst in joint operation	30.2
Loss on settlement of convertible bond	1,506.7
Other			(18.7)
Change in estimated deferred tax rate	54	(1,551)	1,295.2
Share of results of equity-accounted investees after tax	(1,699.8)	(721)	(344.2)
Tax effect of the items adjusted above	(1,277.3)	(1,643.8)	(345.7)
NCI effect of the items listed above	(36.9)	(42.7)
Normalised earnings	30,607.2	2,360.2	(1,436.9)
Gold
Adjusted for:
Restructuring costs	108.1	357	R 14.2
Marikana operations
Adjusted for:
Restructuring costs	R 271.4	R 867
Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dividends percentage	25.00%
Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dividends percentage	35.00%

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Depreciation of non-mining assets (Details)	12 Months Ended
	Dec. 31, 2020
Vehicles
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 years
Computers
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	3 years
Minimum | Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	1 year
Maximum | Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	10 years

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Cost, accumulated amortisation and carrying value (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	R 57,480.2	R 54,558.2
Transfers to right of use assets	(65.6)	(43.6)
Balance at end of the year	60,600	57,480.2	R 54,558.2
Non-cash additions, capitalised amortisation and depreciation	96.1	85.5	26.8
Changes in estimates capitalised	317.6	(105.1)	(618.8)
Increase (decrease) in right of recoverability asset	26	(7)
Increase (decrease) in right of recoverability liability	(40.3)	(11.1)
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	107,285.1	99,994.6	101,720.7
Additions	9,711.7	7,803	7,107.5
Change in estimates of rehabilitation assets	(383.9)	101	618.8
Disposals	(62.9)	(281.8)	(171.2)
Derecognition of property, plant and equipment	(1,968.3)	(2,409.9)	(14,416.4)
Transfers to right of use assets	(1.7)	(18.8)
Assets acquired on acquisition of subsidiaries		3,158.6	1,443.2
Assets derecognised on loss of control of subsidiary	(37)	(62.7)	(1,322.3)
Foreign currency translation	1,411.1	(998.9)	5,014.3
Balance at end of the year	115,954.1	107,285.1	99,994.6
Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	(49,804.9)	(45,436.4)	(50,276.1)
Amortisation and depreciation	7,468	7,102.4	6,640.6
Impairment	0.5	5.1	2,603.3
Disposals	60.4	257.4	77.2
Derecognition of property, plant and equipment	1,968.3	2,409.9	14,416.4
Transfers to right of use assets		(15.5)
Depreciation reclassified to inventory	(117.1)	111.4
Assets derecognised on loss of control of subsidiary			10.9
Foreign currency translation	7.7	167.6	(420.9)
Balance at end of the year	(55,354.1)	(49,804.9)	(45,436.4)
Mine development, infrastructure and other
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	38,169.1	34,235
Balance at end of the year	41,437	38,169.1	34,235
Mine development, infrastructure and other | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	82,046.6	72,811.2	76,529.2
Additions	9,656.1	7,790.9	7,034.6
Change in estimates of rehabilitation assets	(108.2)	(99.4)
Disposals	(42.5)	(281.2)	(168.1)
Derecognition of property, plant and equipment	(1,905.2)	(695)	(14,287.7)
Transfers between classes of property, plant and equipment	(28.9)	(94.9)	192.8
Transfers to right of use assets	(1.7)	(18.8)
Assets acquired on acquisition of subsidiaries		3,152.1	1,325
Assets derecognised on loss of control of subsidiary	(0.5)		(12.5)
Foreign currency translation	478.1	(518.3)	2,197.9
Balance at end of the year	90,093.8	82,046.6	72,811.2
Mine development, infrastructure and other | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	(43,877.5)	(38,576.2)	(44,308.9)
Amortisation and depreciation	6,646.7	6,275.2	5,900.8
Impairment			2,461.5
Disposals	41.1	257.4	75.9
Derecognition of property, plant and equipment	1,905.2	695	14,287.7
Transfers to right of use assets		(15.5)
Depreciation reclassified to inventory	(117.1)	111.4
Assets derecognised on loss of control of subsidiary			10.9
Foreign currency translation	38.2	117.4	(279.5)
Balance at end of the year	(48,656.8)	(43,877.5)	(38,576.2)
Land, mineral rights and rehabilitation
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	18,906.9	19,818.9
Balance at end of the year	18,823.8	18,906.9	19,818.9
Land, mineral rights and rehabilitation | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	23,209.5	25,095.3	21,807.9
Additions	14.2	0.4
Contra-additions			(0.5)
Change in estimates of rehabilitation assets	(270.3)	200.4	618.8
Disposals	(20.4)	(0.6)	(3.1)
Derecognition of property, plant and equipment	(63.1)	(1,714.9)	(128.7)
Transfers between classes of property, plant and equipment	28.9	94.9	134.5
Assets acquired on acquisition of subsidiaries		6.5	50
Assets derecognised on loss of control of subsidiary	(0.7)
Foreign currency translation	923.6	(472.5)	2,616.4
Balance at end of the year	23,821.7	23,209.5	25,095.3
Land, mineral rights and rehabilitation | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	(4,302.6)	(5,276.4)	(4,471)
Amortisation and depreciation	753.4	788.2	739.8
Impairment			70.8
Disposals	19.3
Contra-disposals			(1.3)
Derecognition of property, plant and equipment	63.1	1,714.9	128.7
Foreign currency translation	(24.3)	47.1	(124.8)
Balance at end of the year	(4,997.9)	(4,302.6)	(5,276.4)
Exploration and evaluation assets
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	404.2	504.3
Balance at end of the year	339.2	404.2	504.3
Exploration and evaluation assets | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	2,029	2,088.1	3,383.6
Additions	41.4	11.7	73.4
Change in estimates of rehabilitation assets	(5.4)
Transfers between classes of property, plant and equipment			(327.3)
Assets acquired on acquisition of subsidiaries			68.2
Assets derecognised on loss of control of subsidiary	(35.8)	(62.7)	(1,309.8)
Foreign currency translation	9.4	(8.1)	200
Balance at end of the year	2,038.6	2,029	2,088.1
Exploration and evaluation assets | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about property, plant and equipment [line items]
Balance at beginning of the year	(1,624.8)	(1,583.8)	(1,496.2)
Amortisation and depreciation	67.9	39
Impairment	0.5	5.1	71
Foreign currency translation	(6.2)	3.1	(16.6)
Balance at end of the year	R (1,699.4)	R (1,624.8)	R (1,583.8)

Right-of-use asset (Details)

Right-of-use asset (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Right-of-use asset
Carring value, beginning of period	R 360.9	R 0
Additions and modifications	65.6	43.6
Right-of-use assets		133.3
Depreciation	(124.4)	(111.7)
Transfers and other movements	(7.6)	(5.7)
Foreign currency translation	1.1	(0.6)
Carrying value, end of period	R 295.6	360.9
IFRS 16
Right-of-use asset
Carring value, beginning of period		R 302

ACQUISITIONS - Lonmin acquisiti

ACQUISITIONS - Lonmin acquisition, consideration paid and related costs (Details) - ZAR (R)	Apr. 25, 2019	Nov. 21, 2018	Dec. 14, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2020	Jun. 10, 2019
Disclosure of detailed information about business combination [line items]
Acquisition related costs				R 138,600,000	R 447,800,000	R 402,500,000
Lonmin Ltd
Disclosure of detailed information about business combination [line items]
Initial offer, shares received per share tendered			0.967
Retrenchment moratorium period		6 months
Increased offer, shares received per share tendered	1
Shares issued in acquisition									290,394,531
Period of time for which results are included					7 months
Revenue contributed					R 11,188,000,000
Profit contributed					1,881,000,000
Equity interests of acquirer									R 4,306,600,000
Total consideration				4,306,600,000				R 4,306,600,000	R 4,306,600,000
Acquisition related costs				R 8,000,000	R 283,900,000	R 117,200,000	R 27,700,000	R 436,800,000

Acquisitions - Lonmin - Assets_

Acquisitions - Lonmin - Assets/liabilities, gain (Details) R in Millions	Jun. 10, 2019USD ($)	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Jun. 10, 2019ZAR (R)	Dec. 31, 2018ZAR (R)
IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED
Right-of-use assets			R 133.3
Environmental rehabilitation obligation			R (1,696.9)		R (672.7)
Lonmin Ltd
IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED
Property, plant and equipment				R 3,158.6
Right-of-use assets				133.3
Other investments				320.8
Environmental rehabilitation obligation funds				443.2
Other non-current assets				395
Inventories				5,219.5
Trade and other receivables				925.3
Other current assets				14.6
Cash and cash equivalents				2,999.3
Lease liabilities				(133.3)
Environmental rehabilitation obligation				(1,696.9)
Other non-current liabilities				(863)
Borrowings				(2,574.8)
Trade and other payables				(2,585.7)
Other current liabilities				(99.3)
Total fair value of identifiable net assets acquired		R 5,656.6		R 5,656.6
PGM (4E) basket price (R/oz) | $	$ 1,025
Palladium price (USD/oz) | $	1,170
Borrowing settled | $	$ 174,300,000
Discount rate for assets or liabilities received in acquisition	12.50%			12.50%
Gain on Acquisition
Consideration		4,306.6		R 4,306.6
Fair value of identifiable net assets		(5,656.6)		R (5,656.6)
Non-controlling interest, based on the proportionate interest in the recognised amounts of assets and liabilities		247
Gain on acquisition		R (1,103)
Marikana operations
IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED
Discount rate used in current estimate of value in use	13.50%			13.50%

Acquisitions - SFA Oxford, Qini

Acquisitions - SFA Oxford, Qinisele (Details) £ in Millions, R in Millions	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Oct. 31, 2019ZAR (R)	Mar. 04, 2019GBP (£)	Mar. 04, 2019ZAR (R)
Disclosure of detailed information about business combination [line items]
Contingent consideration related to acquisition	R 88.2	R 55.8
Gain on Acquisition
Goodwill expected to be deductible for tax purposes	0
SFA Oxford Limited [Member]
Disclosure of detailed information about business combination [line items]
Upfront payment				£ 4	R 74.7
Contingent consideration related to acquisition | £				£ 6
Percentage of control acquired				100.00%	100.00%
Gain on Acquisition
Consideration					R 127.1
Fair value of identifiable net assets					(4.4)
Goodwill recognised as of acquisition date					122.7
Goodwill expected to be deductible for tax purposes					R 0
Qinisele Resources [Member]
Disclosure of detailed information about business combination [line items]
Percentage of control acquired			100.00%
Gain on Acquisition
Consideration			R 54.8
Fair value of identifiable net assets			(0.5)
Goodwill recognised as of acquisition date			R 54.3
Goodwill expected to be deductible for tax purposes	R 0

Acquisitions - DRDGOLD acquisit

Acquisitions - DRDGOLD acquisition, consideration paid and related costs (Details) - ZAR (R) shares in Millions, R in Millions	Aug. 01, 2018	Nov. 22, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 10, 2020
Disclosure of detailed information about business combination [line items]
Acquisition related costs			R 138.6	R 447.8	R 402.5
DRDGOLD Limited
Disclosure of detailed information about business combination [line items]
Number of shares acquired		265
Percentage of control acquired		38.05%				12.05%
Potential ownership, as a percent		50.10%	50.66%
Shares option, price discount, as a percent		10.00%
Period of time for which results are included					5 months
Revenue contributed					R 1,047.5
Loss contributed					R 39.9
Acquisition related costs	R 25

Acquisitions - DRDGOLD - Assets

Acquisitions - DRDGOLD - Assets/liabilities, goodwill (Details) R in Millions	Aug. 01, 2018ZAR (R)R / kg	Jan. 10, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)
IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED
Environmental rehabilitation obligation			R (1,696.9)	R (672.7)
DRDGOLD Limited
IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED
Property, plant and equipment	R 1,443.2
Environmental rehabilitation obligation funds	244.7
Other non-current assets	28.7
Inventories	243.5
Trade and other receivables	138.4
Cash and cash equivalents	282.8
Environmental rehabilitation obligation	(672.7)
Deferred tax liabilities	(132.2)
Other non-current liabilities	(54.9)
Trade and other payables	(337.1)
Other current liabilities	(17.6)
Total fair value of identifiable net assets acquired	R 1,166.8
Average gold price per KG | R / kg	580,000
Discount rate used in current estimate of value in use	9.30%
Discount rate for consideration	13.80%
Non-controlling interest in acquiree recognised at acquisition date	R 940.3
Proportion of ownership interests held by non-controlling interests	61.95%
Consideration transferred, acquisition-date fair value	R 261.4	R 1,085.6
Goodwill recognised as of acquisition date	R 34.9

GOODWILL - Changes to balance a

GOODWILL - Changes to balance and allocations of goodwill in acquisitions (Details) R in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Dec. 31, 2017ZAR (R)	Dec. 31, 2016ZAR (R)	Dec. 31, 2015ZAR (R)	Mar. 04, 2019ZAR (R)
Changes in goodwill
Balance at beginning of the year		R 6,854.9	R 6,889.6	R 6,396
Impairment			(54.3)	(436.3)
Goodwill on acquisition			176.9	34.9
Foreign currency translation		310.3	(157.3)	895
Balance at end of the year		7,165.2	6,854.9	6,889.6	R 6,396
Goodwill expected to be deducted for tax purposes		0
SFA Oxford Limited [Member]
Changes in goodwill
Impairment		0
Balance at end of the year		122.7
Goodwill expected to be deducted for tax purposes								R 0
SFA Oxford Limited [Member] | Stillwater
Changes in goodwill
Balance at end of the year		60.2
SFA Oxford Limited [Member] | Rustenburg Operations
Changes in goodwill
Balance at end of the year		44.3
SFA Oxford Limited [Member] | Kroondal
Changes in goodwill
Balance at end of the year		18.2
Qinisele Resources [Member]
Changes in goodwill
Balance at beginning of the year		0
Goodwill on acquisition			54.3
Balance at end of the year			R 0
Goodwill expected to be deducted for tax purposes		0
Cooke Acquisition
Changes in goodwill
Impairment				R (436.3)	R (99.1)	R (201.3)
Goodwill on acquisition							R 736.7
Aquarius Acquisition
Changes in goodwill
Impairment		0
Balance at end of the year		400.6
Aquarius Acquisition | Rustenburg Operations
Changes in goodwill
Goodwill on acquisition		267.1
Balance at end of the year		267.1
Aquarius Acquisition | Kroondal
Changes in goodwill
Goodwill on acquisition		133.5
Balance at end of the year		133.5
Stillwater Canada, Inc. [Member]
Changes in goodwill
Impairment		0
Balance at end of the year	$ 449.7	5,873.9
DRDGOLD Limited
Changes in goodwill
Impairment		0
Balance at end of the year		R 34.9

GOODWILL - Estimates and Assump

GOODWILL - Estimates and Assumptions Used in the Calculation of Goodwill (Details) - ZAR (R)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum | South Africa
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate	9.66%
Burnstone | Mine development, infrastructure and other
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate	16.80%	17.10%	17.40%
Mimosa | Mine development, infrastructure and other
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate	28.40%	23.30%	19.10%
Platinum
Disclosure of reconciliation of changes in goodwill [line items]
Long-term PGM 4E basket price (R/4Eoz)	R 23,278	R 20,600	R 15,050
Long-term PGM 2E basket price (USD/2Eoz)	R 1,202	R 1,250	R 1,010
Platinum | UNITED STATES
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate	8.80%	7.60%	7.00%
Inflation rate	2.00%	2.00%	1.90%
Platinum | South Africa
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate		13.60%	14.30%
Inflation rate	6.00%	5.00%	5.00%
Platinum | Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	1 year	1 year	1 year
Platinum | Minimum | South Africa
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate	18.80%
Platinum | Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	32 years	31 years	28 years
Platinum | Maximum | South Africa
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate	19.70%
Platinum | Mine development, infrastructure and other | Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	12 years	13 years	12 years
Platinum | Mine development, infrastructure and other | Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	39 years	35 years	28 years
Gold
Disclosure of reconciliation of changes in goodwill [line items]
Long-term gold price (R/kg)	R 733,037	R 686,225	R 585,500
Gold | South Africa
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate		12.40%	12.60%
Inflation rate	6.00%	5.00%	5.00%
Gold | Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	1 year	1 year	1 year
Gold | Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	21 years	19 years	19 years
Gold | Maximum | South Africa
Disclosure of reconciliation of changes in goodwill [line items]
Nominal discount rate	13.58%
Gold | Mine development, infrastructure and other | Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	3 years	6 years	5 years
Gold | Mine development, infrastructure and other | Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Useful life	13 years	18 years	20 years

Equity accounted investments -

Equity accounted investments - Summary (Details) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
EQUITY-ACCOUNTED INVESTMENTS
Investments accounted for using equity method	R 5,621	R 4,038.8	R 3,733.9
Mimosa
EQUITY-ACCOUNTED INVESTMENTS
Investments accounted for using equity method	3,928.6	2,687.7	2,492.4	R 2,012.9
Peregrine Metals Ltd. [Member]
EQUITY-ACCOUNTED INVESTMENTS
Investments accounted for using equity method	1,001.1	954.1	978	0
Rand Refinery
EQUITY-ACCOUNTED INVESTMENTS
Investments accounted for using equity method	691.1	396.9	239.3	R 198.4
Other equity-accounted investments
EQUITY-ACCOUNTED INVESTMENTS
Investments accounted for using equity method	R 0.2	R 0.1	R 24.2

Equity accounted investments _2

Equity accounted investments - Rand (Details) - ZAR (R) R in Millions	Dec. 18, 2014	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
EQUITY-ACCOUNTED INVESTMENTS
Balance at the beginning of the period		R 4,038.8	R 3,733.9
Reversal of impairment loss		2.3
Balance at the end of the period		5,621	4,038.8	R 3,733.9
Revenue from contracts with customers		126,173.1	72,124.2	50,036.2
Comprehensive income		28,615.8	(33.1)	(756.6)
Non-current assets		81,860.5	74,908.1	69,727.7
Current assets		52,242.6	26,163.7	15,195.3
Non-current liabilities		45,900	55,606.7	45,566
Current liabilities		R 17,487.1	R 14,326.8	14,632.6
Rand Refinery
EQUITY-ACCOUNTED INVESTMENTS
Interest in associates (as a percent)		44.40%	44.40%
Amount of draw down from loan	R 1,029
Loan	1,200
Balance at the beginning of the period		R 396.9	R 239.3	198.4
Share of results of equity-accounted associate investee after tax		400.1	344.5	143.7
Preference shares redeemed		(114.3)	(186.9)	(102.8)
Reversal of impairment loss		119.6
Balance at the end of the period		691.1	396.9	239.3
Assets (liabilities)		1,015.7	836.9	614.5
Dividend received		(111.2)	(8.2)	(8.2)
Fair value adjustment		R (35.5)	(35.5)	(35.5)
(Impairments)			(119.6)	(119.6)
Redeemable preference shares in excess of interest			14.5	35.9
Proportional share, as a percent		37.40%
Reconciling items		R (63.6)	(104.3)	(145)
Rand Refinery | Separate [member]
EQUITY-ACCOUNTED INVESTMENTS
Revenue from contracts with customers		1,131	811	644
Comprehensive income		903	777	434
Non-current assets		724	667	699
Current assets		2,079	1,433	1,088
Non-current liabilities		56	111	44
Current liabilities		462	104	359
Assets (liabilities)		R 2,285	R 1,885	R 1,384
Rand Refinery | Subordinated shareholders loan [member]
EQUITY-ACCOUNTED INVESTMENTS
Loan	R 384.6
Debt term		2 years

Equity accounted investments _3

Equity accounted investments - Mimosa (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
EQUITY-ACCOUNTED INVESTMENTS
Balance at the beginning of the period	R 4,038.8	R 3,733.9
Balance at the end of the period	5,621	4,038.8	R 3,733.9
Revenue from contracts with customers	126,173.1	72,124.2	50,036.2
Amortisation and depreciation	(7,592.4)	(7,214.1)	(6,613.8)
Interest income	1,065.4	560.4	482.1
Finance expense	(3,151.8)	(3,302.5)	(3,134.7)
Income and royalty tax	(4,858.2)	1,733	(1,083.8)
Income tax	(4,442.1)	(1,363.9)	(36.8)
Royalties	(1,765)	(431)	(212.6)
Profit/(loss) for the period	30,621.6	432.8	(2,520.7)
Other comprehensive income	(2,005.8)	(465.9)	1,764.1
Comprehensive income	28,615.8	(33.1)	(756.6)
Non-current assets	81,860.5	74,908.1	69,727.7
Property, plant and equipment	60,600	57,480.2	54,558.2
Right-of-use assets	295.6	360.9	0
Current assets	52,242.6	26,163.7	15,195.3
Cash and cash equivalents	20,239.8	5,619	2,549.1	R 2,062.4
Non-current liabilities	45,900	55,606.7	45,566
Current liabilities	R 17,487.1	14,326.8	14,632.6
Mimosa
EQUITY-ACCOUNTED INVESTMENTS
Interest in associates (as a percent)	50.00%
Balance at the beginning of the period	R 2,687.7	2,492.4	2,012.9
Share of results of equity-accounted joint venture investee after tax	1,299.7	377.1	210.5
Dividend received	(103.2)	(111)	(87)
Foreign currency translation	44.4	(70.8)	356
Balance at the end of the period	3,928.6	2,687.7	2,492.4
Income tax	(984.2)	(282.3)	(266.6)
Royalties	(270.4)	(154.1)	(115.2)
Assets (liabilities)	3,976.1	2,735.3	2,543.8
Reconciling items	(47.5)	(47.6)	(51.4)
Mimosa | Separate [member]
EQUITY-ACCOUNTED INVESTMENTS
Revenue from contracts with customers	7,789	4,685.2	3,714.9
Amortisation and depreciation	(562.9)	(437.4)	(383.1)
Interest income	7.9	4.5
Finance expense	(28.1)	(43.5)	(26)
Income and royalty tax	(1,254.6)	(436.4)	(381.8)
Profit/(loss) for the period	2,599.4	754.2	420.9
Other comprehensive income	88.9	(141.3)	712
Comprehensive income	2,688.3	612.9	1,132.9
Non-current assets	5,178	4,723.9	4,592.3
Property, plant and equipment	5,178	4,704.8	4,592.3
Right-of-use assets		19.1
Current assets	4,635.1	2,535.1	2,047.9
Cash and cash equivalents	469	27.9	184.8
Other current assets	4,166.1	2,507.2	1,863.1
Non-current liabilities	1,304.6	1,235.4	1,168.1
Non-current financial liabilities	(12.2)	(128.7)	(60.7)
Other non-current liabilities	(1,292.4)	(1,106.7)	(1,107.4)
Current liabilities	556.3	553	384.6
Current financial liabilities	(476)	(446.5)	(377.7)
Other current liabilities	(80.3)	(106.5)	(6.9)
Assets (liabilities)	7,952.2	5,470.6	5,087.5
Current financial liabilities excluding trade and other payables	52.6	32	4
Noncurrent financial liabilities excluding trade and other payables	R 12.2	R 128.7	R 60.7

Equity accounted investments _4

Equity accounted investments - Peregrine (Details) R in Millions, $ in Millions	Oct. 25, 2018USD ($)shares	Jun. 29, 2018USD ($)	Dec. 31, 2020ZAR (R)shares	Dec. 31, 2019ZAR (R)shares	Dec. 31, 2018ZAR (R)shares	Dec. 31, 2017shares
EQUITY-ACCOUNTED INVESTMENTS
Number of shares issued | shares			2,923,571,000	2,670,030,000	2,266,261,000	2,168,721,000
Balance at the beginning of the period			R 4,038.8	R 3,733.9
Balance at the end of the period			5,621	4,038.8	R 3,733.9
Non-current assets			81,860.5	74,908.1	69,727.7
Current assets			52,242.6	26,163.7	15,195.3
Non-current liabilities			45,900	55,606.7	45,566
Current liabilities			R 17,487.1	R 14,326.8	R 14,632.6
Aldebaran Resources Inc. [Member]
EQUITY-ACCOUNTED INVESTMENTS
Number of shares issued | shares	77,635,957
Peregrine Metals Ltd. [Member]
EQUITY-ACCOUNTED INVESTMENTS
Proceeds from sales of investments accounted for using equity method | $	$ 15	$ 15
Initial financing | $		$ 30
Debt term			5 years
Additional earn-in period		3 years
Proportion of ownership interest in joint venture			100.00%	100.00%	100.00%
Balance at the beginning of the period			R 954.1	R 978	R 0
Equity-accounted investment retained					956
Foreign currency translation			47	(23.9)	22
Balance at the end of the period			1,001.1	954.1	978
Assets (liabilities)			459.5	442	557.8
Reconciling items			R 541.6	512.1	420.2
Interest in associates (as a percent)			100.00%
Percentage ownership assuming earn-in			40.00%
Peregrine Metals Ltd. [Member] | Separate [member]
EQUITY-ACCOUNTED INVESTMENTS
Non-current assets			R 1,541.3	1,472.4	1,714.6
Current assets			7.3	3.3	23.9
Non-current liabilities			381.6	369.2	342.6
Current liabilities			18.3	1.4	1.3
Assets (liabilities)			R 1,148.7	R 1,105.1	R 1,394.6
Peregrine Metals Ltd. [Member] | Aldebaran Resources Inc. [Member]
EQUITY-ACCOUNTED INVESTMENTS
Maximum ownership interest of counterparty, as a percent		80.00%
Equity interest consideration, as a percent	19.90%	19.90%
Initial ownership interest of counterparty, as a percent		60.00%	60.00%
Additional possible ownership interest, as a percent		20.00%
Expenditure for additional ownership interest | $		$ 25
Joint venture number of shares received | shares	15,449,555

INTERESTS IN JOINT OPERATIONS_2

INTERESTS IN JOINT OPERATIONS (Details) R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)item	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)
INTERESTS IN JOINT OPERATIONS
Number of joint operations | item	2
Loss on foreign exchange differences	R 255	R (325.5)	R (1,169.1)
Profit before tax	35,479.8	(1,300.2)	(1,436.9)
Profit/(loss) for the period	30,621.6	432.8	(2,520.7)
Non-current assets	81,860.5	74,908.1	69,727.7
Current assets	52,242.6	26,163.7	15,195.3
Non-current liabilities	45,900	55,606.7	45,566
Current liabilities	R (17,487.1)	R (14,326.8)	R (14,632.6)
Kroondal
INTERESTS IN JOINT OPERATIONS
Interest in joint operation (as a percent)	50.00%	50.00%	50.00%
Marikana operations
INTERESTS IN JOINT OPERATIONS
Interest in joint operation (as a percent)	50.00%
Joint Operations | Kroondal
INTERESTS IN JOINT OPERATIONS
Loss on foreign exchange differences	R (16.4)	R (63.2)	R 132.7
Profit before tax	4,814.5	2,061.6	677.7
Profit/(loss) for the period	4,814.3	2,061.4	677.7
Non-current assets	799.7	945.7	1,115.7
Current assets	3,894.5	2,303	1,828.2
Non-current liabilities	7.4
Current liabilities	(436.3)	(353.1)	(271.3)
Net assets (liabilities)	R 4,250.5	R 2,895.6	R 2,672.6

Other investments (Details)

Other investments (Details) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Other investments	R 847	R 598.7	R 156
Rand Mutual Assurance Investment [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Other investments	158.2	112.4	67.8
Furuya Metals Investment [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Other investments	343.1	303.1
Aldebaran Resources Inc. [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Other investments	97.8	78.2	81.5
Generation Mining Investment [Member]
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Other investments	100.7	33.3
Other
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Other investments	R 147.2	R 71.7	R 6.7

ENVIRONMENTAL REHABILITATION _5

ENVIRONMENTAL REHABILITATION OBLIGATION FUNDS (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of fair value measurement of assets [line items]
Balance at beginning of the year	R 4,602.2	R 3,998.7	R 3,492.4
Contributions made	63.6	12.9	63
Payments received	(7.4)	(151.9)
Interest income	245.1	265.5	223.5
Environmental rehabilitation obligation funds on acquisition of subsidiaries		443.2	244.7
Balance at end of the year	4,934	4,602.2	3,998.7
Restricted cash portion	702.9	610	633.9
Funds	4,231.1	3,992.2	3,364.8
Environment rehabilitation obligation funds.
Disclosure of fair value measurement of assets [line items]
Fair value adjustment	R 30.5	R 33.8	R (24.9)

OTHER RECEIVABLES AND OTHER P_3

OTHER RECEIVABLES AND OTHER PAYABLES - Other receivables (Details) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Receivables
Right of recovery receivable	R 340.2	R 186.8	R 176.8
Rates and taxes receivable	105.1	103	106.2
Pre-paid royalties	364.1	392.8
Other	48.7	52.1	66.6
Other receivables	858.1	734.7	349.6
Reconciliation of the non-current and current portion of the other receivables
Other receivables	858.1	734.7	349.6
Current portion of other receivables	(36.8)	(51.2)	(35.2)
Other non-current receivables	R 821.3	R 683.5	R 314.4

OTHER RECEIVABLES AND OTHER P_4

OTHER RECEIVABLES AND OTHER PAYABLES - Other payables (Details) £ in Millions, R in Millions	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Mar. 04, 2019GBP (£)	Dec. 31, 2018ZAR (R)	Dec. 31, 2017ZAR (R)
Other Payables [Abstract]
Contingent consideration recognised as of acquisition date	R 88.2	R 55.8
Right of recovery payable	39.5	79.4		R 83.2
Dissenting shareholder liability				287.1	R 1,349.7
Other	366.7	212.2		256.3
Other payables	5,156.6	3,448.9		2,832.5
Reconciliation of the non-current and current portion of the other payables
Other payables	5,156.6	3,448.9		2,832.5
Current portion of other payables	(2,245.9)	(761.4)		(303.3)
Non-current portion of other payables	2,910.7	2,687.5		2,529.2
Rustenburg Operations Acquisition
Other Payables [Abstract]
Deferred payment	4,354.4	2,825.6		2,205.9	R 2,194.7
Pandora Acquisition By Lonmin [Member]
Other Payables [Abstract]
Deferred payment	R 307.8	R 275.9		R 0
SFA Oxford Limited [Member]
Other Payables [Abstract]
Contingent consideration recognised as of acquisition date | £			£ 6

OTHER RECEIVABLES AND OTHER P_5

OTHER RECEIVABLES AND OTHER PAYABLE - Right of recovery and Deferred (Details) - ZAR (R) R in Millions	Oct. 19, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about business combination [line items]
Rehabilitation obligation payable (as a percent)		50.00%
Rehabilitation recoverable (as a percent)		50.00%
Deferred Payment and Deferred Consideration movement
Payment of Deferred Payment		R (756.2)	R (283.4)	R (38.6)
Rustenburg Operations Acquisition
Disclosure of detailed information about business combination [line items]
Deferred payment percentage	35.00%
Measurement period	6 years
Deferred Payment and Deferred Consideration movement
Balance at the beginning of the year		2,825.6	2,205.9	2,194.7
Interest charge		186.8	179	200.4
Payment of Deferred Payment		(739)	(283.4)	(38.6)
Loss on revised estimated cash flows		2,081	724.1	(150.6)
Balance at end of the year		R 4,354.4	2,825.6	2,205.9
Pandora Acquisition By Lonmin [Member]
Disclosure of detailed information about business combination [line items]
Deferred payment percentage		20.00%
Measurement period		6 years
Gross minimum deferred payment for the contingent consideration		R 400
Percentage of voting equity interests acquired					50.00%
Discount rate applied to cash flow projections		12.50%
Deferred Payment and Deferred Consideration movement
Balance at the beginning of the year		R 275.9	0
Deferred consideration on acquisition of subsidiary			(235.4)
Interest charge		49.1	40.5
Payment of Deferred Payment		(17.2)	0
Balance at end of the year		307.8	275.9	0
Minimum | Rustenburg Operations Acquisition
Disclosure of detailed information about business combination [line items]
Gross minimum deferred payment for the contingent consideration	R 3,000
Maximum
Disclosure of detailed information about business combination [line items]
Contractual rehabilitation liability		R 185	R 179	R 172

OTHER RECEIVABLES AND OTHER P_6

OTHER RECEIVABLES AND OTHER PAYABLE - Dissenting shareholder and Risk (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement In Dissenting Shareholder Liability [Abstract]
Balance at the beginning of the year		R 287.1	R 1,349.7
Interest charge		21.2	68.1
Payments to dissenting shareholders		(319.4)	(1,375.8)
Foreign currency translation reserve		R 11.1	245.1
Balance at the end of the year			R 287.1
Commodity price risk | Deferred Payment And Deferred Consideration Liabilities [Member]
Movement In Dissenting Shareholder Liability [Abstract]
Percentage decrease in risk assumption	1.00%	1.00%
Decrease in loss due to decrease in commodity price	R 73.7	R 95.6
Percentage increase in risk assumption	1.00%	1.00%
Increase in loss due to increase in commodity price	R 73.7	R 95.6

Inventories (Details)

Inventories (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of disaggregation of revenue from contracts with customers [line items]
Consumable stores	R 1,626.8	R 1,580.8	R 1,043.5
Ore and mill inventory	141.7	127.7	71
Current finished goods	8,709.9	2,958.7	777.8
Other	115.1	29.6	7.5
Total inventories	24,952.4	15,503.4	5,294.8
Raw materials and consumables used	16,404	12,784.3	9,327.9
Gold
Disclosure of disaggregation of revenue from contracts with customers [line items]
Work in process	616.5	309.7	143.3
PGM
Disclosure of disaggregation of revenue from contracts with customers [line items]
Work in process	13,742.4	10,496.9	R 3,251.7
PGM | South Africa Region [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Work in process	3,846.6	4,182.4
PGM | Marikana operations
Disclosure of disaggregation of revenue from contracts with customers [line items]
Work in process	R 4,224.5	R 3,826.5

TRADE AND OTHER RECEIVABLE (Det

TRADE AND OTHER RECEIVABLE (Details) R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)R / $	Dec. 31, 2019ZAR (R)R / $	Dec. 31, 2018ZAR (R)R / $
Disclosure of disaggregation of revenue from contracts with customers [line items]
Payroll debtors	R 268.2	R 251.5	R 127.9
Interest receivable	56.5	14.6	8.9
Total financial assets	6,042.6	3,836.2	6,317.3
Prepayments	368.8	442.9	296.9
Value added tax receivables	454.2	355.9	218.8
Total trade and other receivables	6,865.6	4,635	6,833
Impairment not recognized in profit and loss		95.2
Gold
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current trade receivables	42		433.8
PGM
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current trade receivables	4,655.3	2,681.1	5,310.1
PGM Concentrate [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current trade receivables	4,030	2,341.6	5,310.1
PGM Other [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current trade receivables	625.3	339.5
Other Than Gold And PGM Mining Activities [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current trade receivables	1,020.6	889	436.6
Other Than Gold And PGM Mining Activities [Member] | Financial instruments credit-impaired [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current trade receivables	R 199.2	R 139.9	R 15.8
Commodity price risk | PGM Concentrate [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage Of Reasonably Possible Decrease In Risk Assumption	1.00%
Percentage Of Reasonably Possible Increase In Risk Assumption	1.00%
Effect on revenue and receivable balance	R 30.6
Currency risk
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage Of Reasonably Possible Decrease In Risk Assumption	1.00%
Closing foreign exchange rate | R / $	14.69	14	14.35
Currency risk | Trade receivables
Disclosure of disaggregation of revenue from contracts with customers [line items]
Percentage Of Reasonably Possible Decrease In Risk Assumption	1.00%
Percentage Of Reasonably Possible Increase In Risk Assumption	1.00%
Effect on net profit or loss	R 43.7
Closing foreign exchange rate | R / $	14.69

CASH AND CASH EQUIVALENTS (Deta

CASH AND CASH EQUIVALENTS (Details) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH AND CASH EQUIVALENTS.
Cash at the bank and on hand	R 20,239.8	R 5,619	R 2,549.1
Total cash and cash equivalents	R 20,239.8	R 5,619	R 2,549.1	R 2,062.4

STATED SHARE CAPITALs (Details)

STATED SHARE CAPITALs (Details)	Nov. 02, 2020ZAR (R)R / sharesshares	Jun. 10, 2019shares	Apr. 15, 2019ZAR (R)R / sharesshares	Apr. 11, 2018shares	Dec. 31, 2020ZAR (R)shares	Dec. 31, 2019ZAR (R)shares	Dec. 31, 2018ZAR (R)shares	Dec. 31, 2017ZAR (R)
Disclosure of classes of share capital [line items]
Equity | R					R 70,716,000,000	R 31,138,300,000	R 24,724,400,000	R 23,998,200,000
Authorised number of shares					10,000,000,000	10,000,000,000	10,000,000,000
Reconciliation of issued number of shares
Number of shares in issue at beginning of the year					2,670,030,000	2,266,261,000	2,168,721,000
Scheme implemented					2,670,030,000
Shares issued under SGL Share Plan					6,932,000	4,442,000	10,394,000
Shares delisted	(1,431,197)				(1,431,197)
Shares issued upon conversion of debt					248,040,000
Shares issued for cash			108,932,356			108,932,000
Shares issued with acquisition		290,394,531				290,395,000
Capitalization Issue				87,145,885			87,146,000
Number of shares in issue at end of the year					2,923,571,000	2,670,030,000	2,266,261,000
Issue of equity | R			R 1,700,000,000			R 1,688,400,000
Par value per share | R / shares			R 0
Capitalisation issuance ratio				0.04
Shares issued upon conversion of convertible bond | R					R 12,573,200,000
Share buy-back | R	R (84,100,000)				(84,100,000)
Repurchase price, per share | R / shares	R 58.80
Minimum
Reconciliation of issued number of shares
Number of shares held per owner	100
Maximum
Reconciliation of issued number of shares
Number of shares held per owner	400
Reorganisation reserve
Disclosure of classes of share capital [line items]
Equity | R					23,001,300,000	40,662,000,000	R 34,667,000,000	34,667,000,000
Reconciliation of issued number of shares
Issue of equity | R						1,688,400,000
Shares issued in acquisition | R						4,306,600,000
Reorganisation | R					(17,660,700,000)
Stated share capital
Disclosure of classes of share capital [line items]
Equity | R					R 30,149,800,000	0	0	0
Reconciliation of issued number of shares
Scheme implemented					2,670,030,000
Shares issued under SGL Share Plan					6,932,000
Shares delisted					(1,431,000)
Shares issued upon conversion of debt					248,040,000
Number of shares in issue at end of the year					2,923,571,000
Reorganisation | R					R 17,660,700,000
Shares issued upon conversion of convertible bond | R					12,573,200,000
Share buy-back | R					R (84,100,000)
Stated share capital | Maximum
Disclosure of classes of share capital [line items]
Equity | R						R 100,000	R 100,000	100,000
Reconciliation of issued number of shares
Number of shares in issue at beginning of the year					1,000	1,000	1,000
Number of shares in issue at end of the year						1,000	1,000
Previously stated [member]
Disclosure of classes of share capital [line items]
Equity | R						R 40,662,000,000	R 34,667,000,000	34,667,000,000
Reconciliation of issued number of shares
Number of shares in issue at beginning of the year					2,670,030,000	2,266,261,000	2,168,721,000
Shares issued under SGL Share Plan						4,442,000	10,394,000
Shares issued for cash						108,932,000
Shares issued with acquisition						290,395,000
Capitalization Issue							87,146,000
Number of shares in issue at end of the year						2,670,030,000	2,266,261,000
Issue of equity | R						R 1,688,400,000
Shares issued in acquisition | R						4,306,600,000
Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of classes of share capital [line items]
Equity | R						(40,662,000,000)	R (34,667,000,000)	(34,667,000,000)
Reconciliation of issued number of shares
Issue of equity | R						(1,688,400,000)
Shares issued in acquisition | R						R (4,306,600,000)
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | Stated share capital
Disclosure of classes of share capital [line items]
Equity | R								R 1

NON-CONTROLLING INTERESTS (Deta

NON-CONTROLLING INTERESTS (Details) - ZAR (R) R in Millions	Nov. 22, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 10, 2020	Dec. 31, 2017
Disclosure of subsidiaries [line items]
Equity		R 70,716	R 31,138.3	R 24,724.4		R 23,998.2
Revenue from contracts with customers		126,173.1	72,124.2	50,036.2
Profit (loss)		30,621.6	432.8	(2,520.7)
Comprehensive income		28,615.8	(33.1)	(756.6)
Profit (loss), attributable to non-controlling interests		1,309.7	370.7	(21.1)
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes		14,968.7	3,129.2	352.4
Dividends paid, classified as operating activities		1,698.4	85	0.6
Non-current assets		81,860.5	74,908.1	69,727.7
Current assets		52,242.6	26,163.7	15,195.3
Non-current liabilities		(45,900)	(55,606.7)	(45,566)
Current liabilities		R (17,487.1)	(14,326.8)	(14,632.6)
DRDGOLD Limited
Disclosure of subsidiaries [line items]
Potential ownership, as a percent	50.10%	50.66%
Percentage of voting equity interests acquired	38.05%				12.05%
Non-controlling interests member
Disclosure of subsidiaries [line items]
Equity		R 2,235.7	1,467.7	936		R 19.8
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity		220
Profit (loss)		1,309.7	370.7	(21.1)
Comprehensive income		R 1,328.8	R 370	R (23.5)
DRDGOLD Limited
Disclosure of subsidiaries [line items]
Percentage of stake held		49.90%	61.95%	61.95%
Potential ownership, as a percent		49.30%	61.40%	61.40%
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity			R (0.3)	R 261.4
DRDGOLD Limited | Operating segments
Disclosure of subsidiaries [line items]
Revenue from contracts with customers		R 5,051	3,621	1,047.5
Profit (loss)		1,254.5	460.2	(39.9)
Comprehensive income		1,485.1	459.1	(43.8)
Profit (loss), attributable to non-controlling interests		619.2	285.1	(24.7)
DRDGOLD Limited | Non-controlling interests member
Disclosure of subsidiaries [line items]
Equity		1,223.8	1,135.2	913.2
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity		(220)	(0.3)
DRDGOLD Limited | Non-controlling interests member | Operating segments
Disclosure of subsidiaries [line items]
Equity		4,643.7	2,793.5	2,472.1
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes		1,626	334	(73.4)
Dividends paid, classified as operating activities		358.7	85
Non-current assets		3,620.3	3,393.1	3,581.9
Current assets		2,671.2	972.2	591
Non-current liabilities		(1,055.3)	(1,108.6)	(1,275.6)
Current liabilities		(592.5)	(463.3)	(425.2)
Platinum Mile Subsidiary [Member] | Non-controlling interests member
Disclosure of subsidiaries [line items]
Equity		36.6	21.1	18.4
GTSM | Non-controlling interests member
Disclosure of subsidiaries [line items]
Equity		4.8	5.4	R 4.4
Marikana operations | Non-controlling interests member
Disclosure of subsidiaries [line items]
Equity		R 970.5	306
Western Platinum Limited [Member]
Disclosure of subsidiaries [line items]
Percentage of stake held		4.75%
Western Platinum Limited [Member] | Operating segments
Disclosure of subsidiaries [line items]
Revenue from contracts with customers		R 26,781.2	11,124.5
Profit (loss)		7,239.3	763.7
Comprehensive income		7,250.9	763.7
Profit (loss), attributable to non-controlling interests		444.4	17
Western Platinum Limited [Member] | Non-controlling interests member
Disclosure of subsidiaries [line items]
Equity		689.5	253.3
Western Platinum Limited [Member] | Non-controlling interests member | Operating segments
Disclosure of subsidiaries [line items]
Equity		(3,532)	(10,082.6)
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes		6,249.4	(2,070.2)
Non-current assets		5,094.3	7,749.5
Current assets		14,737.2	6,832
Non-current liabilities		(20,737.6)	(22,462.3)
Current liabilities		R (2,625.9)	R (2,201.7)

Borrowings - Components (Detail

Borrowings - Components (Details) R in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2020ZAR (R)	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Dec. 31, 2020USD ($)	Dec. 31, 2020ZAR (R)	Sep. 18, 2020USD ($)	Sep. 11, 2020USD ($)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Sep. 19, 2018USD ($)	Sep. 12, 2018USD ($)	Sep. 11, 2018USD ($)	May 31, 2018ZAR (R)	Dec. 31, 2017ZAR (R)	Sep. 19, 2017USD ($)	Nov. 15, 2016ZAR (R)	Jul. 01, 2014USD ($)	Jul. 01, 2014ZAR (R)
Disclosure of detailed information about borrowings [line items]
Total borrowings		R 18,382.6	R 23,736.2	R 24,504.7		R 18,382.6			R 23,736.2	R 24,504.7					R 25,649.5
Current portion of borrowings						(885.6)			(38.3)	(6,188.2)
Total non-current portion of non-current borrowings						17,497			23,697.9	18,316.5
Derivative financial liabilities									4,144.9	408.9					1,093.5
Non-current derivative financial liabilities									4,144.9	408.9
Balance at beginning of period		23,736.2	24,504.7	25,649.5
Borrowings acquired on acquisition of subsidiary			2,574.8
Loans raised		16,289.2	18,981.7	17,130.2
Loans repaid		(18,335.1)	(22,008.3)	(21,231.5)
Bond converted into shares		(5,578.2)
Unwinding of loans recognised at amortised cost		393.2	374.4	538.3
Accrued interest		1,289.9	1,444.9	1,572.5
Accrued interest paid		(866.3)	(777.7)	(907.2)
Gain on derecognition of borrowings				(179.7)
Loss on revised estimated cash flows		(264.3)	96.6	(804.6)
(Gain)/loss on foreign exchange differences and foreign currency translation		2,150.2	(779.9)	3,367.2
Balance at end of period		18,382.6	23,736.2	24,504.7
US$600 million RCF
Disclosure of detailed information about borrowings [line items]
Face amount of debt					$ 600,000,000									R 600
Total borrowings		6,977.7	5,711.9	2,726.5		6,977.7			5,711.9	2,726.5
Current portion of borrowings | $					(150,000,000)
Total non-current portion of non-current borrowings | $					450,000,000
Balance at beginning of period		5,711.9	2,726.5
Loans raised		7,218.1	9,067.1	5,391.6
Loans repaid		(6,802.2)	(5,826.2)	(2,744.7)
(Gain)/loss on foreign exchange differences and foreign currency translation		(849.9)	261.9	(6.5)
Balance at end of period		6,977.7	5,711.9	2,726.5
R6.0 billion revolving credit facility
Disclosure of detailed information about borrowings [line items]
Face amount of debt						6,000			6,000								R 6,000
Total borrowings			5,896.4	5,896.4						5,896.4					5,536.4
Balance at beginning of period			5,896.4	5,536.4
Loans raised			1,150	360
Loans repaid			(5,046.4)
Balance at end of period				5,896.4
R5.5 billion RCF
Disclosure of detailed information about borrowings [line items]
Face amount of debt						5,500			5,500
Total borrowings		2,500	2,500	0					2,500	0					0
Balance at beginning of period		2,500	0	0
Loans raised		5,000	500	0
Loans repaid		(7,500)	0	0
Balance at end of period			2,500	0
Bond Borrowings [Member]
Disclosure of detailed information about borrowings [line items]
Accrued interest		857.7	769.9	942.5
2022 and 2025 Notes
Disclosure of detailed information about borrowings [line items]
Face amount of debt | $											$ 349,000,000
Total borrowings		10,135.7	9,609.8	9,808.7		10,135.7			9,609.8	9,808.7					12,597.7
Balance at beginning of period		9,609.8	9,808.7	12,597.7
Loans repaid				(5,107.4)
Accrued interest		741.6	672.2	795.5
Accrued interest paid		(763.5)	(664.9)	(836.6)
Gain on derecognition of borrowings				(128.8)
(Gain)/loss on foreign exchange differences and foreign currency translation		445.4	(239.5)	2,209.4
Balance at end of period		10,135.7	9,609.8	9,808.7
US 450 Million Convertible Bond [Member]
Disclosure of detailed information about borrowings [line items]
Face amount of debt | $							$ 383,000,000	$ 200,000				$ 384,000,000	$ 66,000,000			$ 450,000,000
Total borrowings		4,578.6	4,578.6	4,496.6					4,578.6	4,496.6
Derivative financial liabilities									4,144.9	408.9
Balance at beginning of period		4,578.6	4,496.6
Loans repaid	R (13.2)	(13.2)		(745.2)
Bond converted into shares		(5,578.2)
Accrued interest		94.2	105	105.9
Gain on derecognition of borrowings				(50.9)
Balance at end of period			4,578.6	4,496.6
Burnstone Debt
Disclosure of detailed information about borrowings [line items]
Face amount of debt																		$ 178,100,000	R 1,883.9
Total borrowings		1,263.3	1,330.4	1,145.1	$ 178,100,000	1,263.3			1,330.4	1,145.1					1,537.5
Balance at beginning of period		1,330.4	1,145.1	1,537.5
Loss on revised estimated cash flows		(264.3)	96.6	(804.6)
Balance at end of period		1,263.3	1,330.4	1,145.1
Other borrowings
Disclosure of detailed information about borrowings [line items]
Total borrowings			425.6	425.6						425.6					R 478.7
Balance at beginning of period			425.6	478.7
Loans raised		4,071.1	8,264.6	10,798.6
Loans repaid		(4,019.7)	(11,135.7)	(10,854.6)
Balance at end of period				425.6
Franco-Nevada liability
Disclosure of detailed information about borrowings [line items]
Total borrowings		2.1	2	2		2.1			2	2
Balance at beginning of period		2	2
Balance at end of period		2.1	2	2
Stillwater Convertible Debentures
Disclosure of detailed information about borrowings [line items]
Total borrowings		3.8	3.5	3.8		R 3.8			R 3.5	R 3.8
Balance at beginning of period		3.5	3.8
Balance at end of period		R 3.8	R 3.5	R 3.8
US$350 million revolving credit facility
Disclosure of detailed information about borrowings [line items]
Face amount of debt														R 350
R4.5 billion facilities
Disclosure of detailed information about borrowings [line items]
Face amount of debt																	R 4,500

BORROWINGS - US$600 MILLION RCF

BORROWINGS - US$600 MILLION RCF (Details) R in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2020ZAR (R)item	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	May 31, 2018ZAR (R)
Disclosure of detailed information about borrowings [line items]
Balance at beginning of period		R 23,736.2	R 24,504.7	R 25,649.5
Loans raised		16,289.2	18,981.7	17,130.2
Loans repaid		(18,335.1)	(22,008.3)	(21,231.5)
Interest charge		1,289.9	1,444.9	1,572.5
(Gain)/loss on foreign exchange differences		255	(325.5)	(1,169.1)
Foreign currency translation		(2,150.2)	779.9	(3,367.2)
Balance at end of period		R 18,382.6	23,736.2	24,504.7
US$600 million RCF
Disclosure of detailed information about borrowings [line items]
Face amount of debt	$ 600				R 600
Net debt to EBITDA threshold	2.50	2.50
Utilisation fee when loans outstanding as % of the total loans is less than or equal to 33 1/3%	0.15%	0.15%
Utilisation fee when loans outstanding as % of the total loans is greater than 33 1/3 % and less than or equal to 66 2/3 %	0.30%	0.30%
Utilisation fee when loans outstanding as % of the total loans is greater than 66 2/3 %	0.50%	0.50%
Debt term	3 years	3 years
Number of one-year extensions | item	2	2
Balance at beginning of period		R 5,711.9	2,726.5
Loans raised		7,218.1	9,067.1	5,391.6
Loans repaid		(6,802.2)	(5,826.2)	(2,744.7)
(Gain)/loss on foreign exchange differences			6.4	73.1
Foreign currency translation		849.9	(261.9)	6.5
Balance at end of period		R 6,977.7	R 5,711.9	R 2,726.5
US$600 million RCF | Net Debt To EBITDA Less Than Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	1.85%
US$600 million RCF | Net Debt To EBITDA Above Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.00%
U S 600 Million Revolving Credit Facility, First Extension [Member]
Disclosure of detailed information about borrowings [line items]
Number of lenders extending term | item	7	7
Number of lenders | item	8	8
U S 600 Million Revolving Credit Facility, Second Extension [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings amount on extended term | $	$ 450
Number of lenders extending term | item	6	6
Number of lenders | item	8	8
US$350 million revolving credit facility
Disclosure of detailed information about borrowings [line items]
Face amount of debt					R 350

BORROWINGS - R6.0 BILLION RCF (

BORROWINGS - R6.0 BILLION RCF (Details) R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)item	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Nov. 15, 2016ZAR (R)
Disclosure of detailed information about borrowings [line items]
Balance at beginning of period	R 23,736.2	R 24,504.7	R 25,649.5
Loans raised	16,289.2	18,981.7	17,130.2
Loans repaid	(18,335.1)	(22,008.3)	(21,231.5)
Balance at end of period	18,382.6	23,736.2	24,504.7
R6.0 billion revolving credit facility
Disclosure of detailed information about borrowings [line items]
Face amount of debt	R 6,000	6,000		R 6,000
Net debt to EBITDA threshold | item	3
Net debt to EBITDA threshold, mid-range | item	3.25
Debt term	3 years
Balance at beginning of period		5,896.4	5,536.4
Loans raised		1,150	360
Loans repaid		(5,046.4)
Inter Bank transfer		R (2,000)
Balance at end of period			R 5,896.4
R6.0 billion revolving credit facility | JIBAR
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.40%
R6.0 billion revolving credit facility | JIBAR | Net Debt To EBITDA Less Than Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.40%
R6.0 billion revolving credit facility | JIBAR | Net Debt To EBITDA At Midrange [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.65%
R6.0 billion revolving credit facility | JIBAR | Net Debt To EBITDA Above Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.90%
R4.5 billion facilities
Disclosure of detailed information about borrowings [line items]
Face amount of debt				R 4,500

BORROWINGS - R5.5 BILLION RCF (

BORROWINGS - R5.5 BILLION RCF (Details) R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)item	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Nov. 15, 2016ZAR (R)
Disclosure of detailed information about borrowings [line items]
Balance at beginning of period	R 23,736.2	R 24,504.7	R 25,649.5
Loans raised	16,289.2	18,981.7	17,130.2
Loans repaid	(18,335.1)	(22,008.3)	(21,231.5)
(Gain)/loss on foreign exchange differences	255	(325.5)	(1,169.1)
Balance at end of period	18,382.6	23,736.2	24,504.7
R6.0 billion revolving credit facility
Disclosure of detailed information about borrowings [line items]
Face amount of debt	R 6,000	6,000		R 6,000
Net debt to EBITDA threshold | item	3
Debt term	3 years
Balance at beginning of period		5,896.4	5,536.4
Loans raised		1,150	360
Loans repaid		(5,046.4)
Borrowings Inter Bank Transfer		(2,000)
Balance at end of period			5,896.4
R6.0 billion revolving credit facility | JIBAR
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.40%
R6.0 billion revolving credit facility | JIBAR | Net Debt To EBITDA Less Than Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.40%
R6.0 billion revolving credit facility | JIBAR | Net Debt To EBITDA Above Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.90%
R5.5 billion RCF
Disclosure of detailed information about borrowings [line items]
Face amount of debt	R 5,500	5,500
Net debt to EBITDA threshold	2
Debt term	3 years
Number of one-year extensions | item	2
Balance at beginning of period	R 2,500	0	0
Loans raised	5,000	500	0
Loans repaid	R (7,500)	0	0
Borrowings Inter Bank Transfer		(2,000)
Balance at end of period		R 2,500	R 0
R5.5 billion RCF | Net Debt To EBITDA Less Than Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.40%
R5.5 billion RCF | Net Debt To EBITDA Above Threshold [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin	2.60%

BORROWINGS - 2022 and 2025 Note

BORROWINGS - 2022 and 2025 Notes (Details) R in Millions, $ in Millions	Oct. 21, 2019ZAR (R)	Apr. 11, 2019USD ($)	Apr. 11, 2019ZAR (R)	Sep. 19, 2018USD ($)	Jun. 27, 2017USD ($)item	Jul. 31, 2018USD ($)	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Dec. 31, 2016USD ($)	Dec. 31, 2020USD ($)
Disclosure of detailed information about borrowings [line items]
Deferred revenue advance received	R 1,100	$ 125	R 1,750			$ 500	R 770.6	R 2,859.3	R 6,555.4
Balance at beginning of period							23,736.2	24,504.7	25,649.5
Loans raised							16,289.2	18,981.7	17,130.2
Loans repaid							(18,335.1)	(22,008.3)	(21,231.5)
Interest charge							1,289.9	1,444.9	1,572.5
Accrued interest paid							(866.3)	(777.7)	(907.2)
Unwinding of amortised cost							393.2	374.4	538.3
Gain on derecognition of borrowings									(179.7)
Foreign currency translation							2,150.2	(779.9)	3,367.2
Balance at end of period							18,382.6	23,736.2	24,504.7
BTT streaming revenue
Disclosure of detailed information about borrowings [line items]
Deferred revenue advance received | $				$ 500						$ 50
2022 and 2025 Notes
Disclosure of detailed information about borrowings [line items]
Number of tranches | item					2
Bond purchase price | $				345
Face amount of debt | $				$ 349
Balance at beginning of period							9,609.8	9,808.7	12,597.7
Loans repaid									(5,107.4)
Interest charge							741.6	672.2	795.5
Accrued interest paid							(763.5)	(664.9)	(836.6)
Unwinding of amortised cost							58.6	47.9	196.7
Gain on derecognition of borrowings									(128.8)
Foreign currency translation							445.4	(239.5)	2,209.4
Balance at end of period							R 10,135.7	R 9,609.8	R 9,808.7
US$500 million 6.125$% June 2022 Senior Notes
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)					6.125%						6.125%
Face amount of debt | $					$ 500						$ 353.7
Debt term							5 years
US$550 million 7.125$% Senior Notes
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)					7.125%						7.125%
Face amount of debt | $					$ 550						$ 346.9
Debt term							8 years

Borrowings - US$ CONVERTIBLE BO

Borrowings - US$ CONVERTIBLE BOND (Details) R / shares in Units, $ / shares in Units, R in Millions	Oct. 19, 2020USD ($)	Sep. 11, 2020USD ($)shares	Oct. 21, 2019ZAR (R)	Apr. 11, 2019USD ($)	Apr. 11, 2019ZAR (R)	Sep. 19, 2018USD ($)	Sep. 11, 2018USD ($)	Sep. 19, 2017USD ($)$ / shares	Oct. 31, 2020ZAR (R)	Oct. 19, 2020shares	Jul. 31, 2018USD ($)	Dec. 31, 2020ZAR (R)itemR / sharesshares	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Dec. 31, 2016USD ($)	Sep. 18, 2020USD ($)	Sep. 12, 2018USD ($)
Disclosure of detailed information about borrowings [line items]
Shares issued upon conversion of debt | shares												248,040,000
Deferred revenue advance received			R 1,100	$ 125,000,000	R 1,750						$ 500,000,000	R 770.6	R 2,859.3	R 6,555.4
Accrued interest and unwinding of amortised cost												393.2	374.4	538.3
Shares issued upon conversion of convertible bond												12,573.2
Balance at beginning of period												23,736.2	24,504.7	25,649.5
Loans raised												16,289.2	18,981.7	17,130.2
Loans repaid												18,335.1	22,008.3	21,231.5
Bond converted into shares												(5,578.2)
Accrued interest paid												(866.3)	(777.7)	(907.2)
Interest charge												1,289.9	1,444.9	1,572.5
Unwinding of amortised cost												393.2	374.4	538.3
Gain on derecognition of borrowings														(179.7)
Foreign currency translation												(2,150.2)	779.9	(3,367.2)
Balance at end of period												18,382.6	23,736.2	24,504.7
Balance at beginning of the year												4,144.9	408.9	1,093.5
(Gain)/loss on financial instruments												2,450.3	6,015.1	(1,704.1)
Loss on settlement of convertible bond												1,506.7
Gain on derecognition of derivative financial instruments														(50.3)
Gain on foreign exchange differences												R 255	(325.5)	(1,169.1)
Balance at end of the year													4,144.9	408.9
BTT streaming revenue
Disclosure of detailed information about borrowings [line items]
Deferred revenue advance received | $						$ 500,000,000									$ 50,000,000
US 450 Million Convertible Bond [Member]
Disclosure of detailed information about borrowings [line items]
Face amount of debt | $		$ 200,000					$ 66,000,000	$ 450,000,000								$ 383,000,000	$ 384,000,000
Bond purchase price | $	$ 800,000						$ 50,000,000
Shares issued upon conversion of debt | shares		127,967								247,912,467		248,040,000
Coupon rate (as a percent)												1.875%
Debt term												6 years
Conversion premium												35.00%
Weighted average share price | $ / shares								$ 1.2281
Initial conversion price | $ / shares								$ 1.6580
Accrued interest and unwinding of amortised cost												R 186.8	196.8	185.8
Number of bonds settled | item												1,916
Shares issued upon conversion of convertible bond									R 12,573.2			R 12,573.2
Balance at beginning of period												4,578.6	4,496.6
Loans repaid									R 13.2			13.2		745.2
Bond converted into shares												(5,578.2)
Interest charge												94.2	105	105.9
Unwinding of amortised cost												186.8	196.8	185.8
Gain on derecognition of borrowings														(50.9)
Balance at end of period													4,578.6	4,496.6
Balance at beginning of the year												4,144.9	408.9
(Gain)/loss on financial instruments												70.2	3,911.5	(678.1)
Settlement of derivative financial instrument												(6,995)
Loss on settlement of convertible bond												1,506.7
Gain on foreign exchange differences												1,273.2	(175.5)	43.8
Balance at end of the year													4,144.9	408.9
US 450 Million Convertible Bond [Member] | Financial liabilities not measured at fair value
Disclosure of detailed information about borrowings [line items]
Balance at beginning of period												4,578.6	4,496.6	4,357.1
Accrued interest paid												(124.7)	(105.5)	(111.7)
Balance at end of period													4,578.6	4,496.6
Gain on foreign exchange differences												R 856.5	R (114.3)	R 755.6
US 450 Million Convertible Bond [Member] | Maximum
Disclosure of detailed information about borrowings [line items]
Weighted average share price | R / shares												R 51.5
US 450 Million Convertible Bond [Member] | Minimum
Disclosure of detailed information about borrowings [line items]
Weighted average share price | R / shares												R 46.5

BORROWINGS - BURNSTONE DEBT (De

BORROWINGS - BURNSTONE DEBT (Details) R in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)	Dec. 31, 2020USD ($)R / kgR / $	Dec. 31, 2020ZAR (R)R / kgR / $	Dec. 31, 2019ZAR (R)R / kgR / $	Dec. 31, 2018ZAR (R)R / kgR / $	Jul. 01, 2014USD ($)	Jul. 01, 2014ZAR (R)
Disclosure of detailed information about borrowings [line items]
Borrowings		R 18,382.6	R 23,736.2	R 24,504.7		R 18,382.6	R 23,736.2	R 24,504.7
Balance at beginning of period		23,736.2	24,504.7	25,649.5
Accrued interest and unwinding of amortised cost		393.2	374.4	538.3
(Gain)/loss on revised estimated cash flows		(264.3)	96.6	(804.6)
(Gain)/loss on foreign exchange differences		255	(325.5)	(1,169.1)
Loans repaid		(18,335.1)	(22,008.3)	(21,231.5)
Balance at end of period		18,382.6	23,736.2	24,504.7
Revised gold prices | R / kg					733,037	733,037	686,225	585,500
Burnstone
Disclosure of detailed information about borrowings [line items]
Borrowings		R 1,883.9				R 1,883.9
Bank Lenders participation in Burnstone free cash flow after Burnstone Debt repaid in full	10.00%	10.00%
Maximum participation in Burnstone free cash flow after Burnstone Debt repaid in full | $	$ 63
Balance at end of period		R 1,883.9
Burnstone Debt
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 178.1	R 1,263.3	1,330.4	1,145.1	$ 178.1	1,263.3	R 1,330.4	R 1,145.1
Face amount of debt									$ 178.1	R 1,883.9
Net assets (liabilities)						R 2,000
Borrowings on acquisition of subsidiary										R 1,007.6
Period of the life-of-mine plan	20 years	20 years
Balance at beginning of period		R 1,330.4	1,145.1	1,537.5
Accrued interest and unwinding of amortised cost		147.8	120.1	152.9
(Gain)/loss on revised estimated cash flows		(264.3)	96.6	(804.6)
(Gain)/loss on foreign exchange differences		49.4	(31.4)	259.3
Balance at end of period	$ 178.1	R 1,263.3	R 1,330.4	R 1,145.1
Exchange rates | R / $					16	16	14	14
A1 U S $0.2 Million [Member]
Disclosure of detailed information about borrowings [line items]
Face amount of debt | $					$ 0.2
A2 U S $7.8 Million [Member]
Disclosure of detailed information about borrowings [line items]
Face amount of debt | $					$ 7.8
Free cash flow used to repay Wits Gold Loan (as a percent)	50.00%	50.00%
Free cash flow used to repay Burnstone Debt (as a percent)	50.00%	50.00%
Discount rate applied to cash flow projections					5.80%	5.80%
A3 U S $51.0 Million And A4 US $119.1 Million [Member]
Disclosure of detailed information about borrowings [line items]
Free cash flow used to repay Wits Gold Loan (as a percent)	90.00%	90.00%
Free cash flow used to repay Burnstone Debt (as a percent)	10.00%	10.00%
Free cash flow used to repay Burnstone Debt after settlement of Wits Gold Loan (as a percent)	30.00%	30.00%
Discount rate applied to cash flow projections					9.50%	9.50%
A3 U S $51.0 Million [Member]
Disclosure of detailed information about borrowings [line items]
Face amount of debt | $					$ 51
A4 U S $119.1 Million [Member]
Disclosure of detailed information about borrowings [line items]
Face amount of debt | $					$ 119.1
LIBOR | A3 U S $51.0 Million And A4 US $119.1 Million [Member]
Disclosure of detailed information about borrowings [line items]
Interest rate margin					4.00%	4.00%

BORROWINGS - OTHER BORROWINGS (

BORROWINGS - OTHER BORROWINGS (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Balance at beginning of period	R 23,736.2	R 24,504.7	R 25,649.5
Loans raised	16,289.2	18,981.7	17,130.2
Loans repaid	(18,335.1)	(22,008.3)	(21,231.5)
Unwinding of amortised cost	393.2	374.4	538.3
(Gain)/loss on foreign exchange differences	255	(325.5)	(1,169.1)
Balance at end of period	18,382.6	23,736.2	24,504.7
Other borrowings
Disclosure of detailed information about borrowings [line items]
Balance at beginning of period		425.6	478.7
Loans raised	4,071.1	8,264.6	10,798.6
Loans repaid	(4,019.7)	(11,135.7)	(10,854.6)
Unwinding of amortised cost		9.6	2.9
Borrowings on acquisition of subsidiary		2,574.8
Other		1.3
(Gain)/loss on foreign exchange differences	R (51.4)	R (140.2)
Balance at end of period			R 425.6

Borrowings - Fair Value (Detail

Borrowings - Fair Value (Details) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Level 1
Disclosure of fair value measurement of liabilities [line items]
Liabilities	R 10,637	R 10,138.4	R 9,312
Level 1 | 2022 and 2025 Notes
Disclosure of fair value measurement of liabilities [line items]
Liabilities	10,637	10,138.4	9,312
Level 2
Disclosure of fair value measurement of liabilities [line items]
Liabilities		4,724.5	3,736.1
Level 2 | US 450 Million Convertible Bond [Member]
Disclosure of fair value measurement of liabilities [line items]
Liabilities		4,724.5	3,736.1
Level 3
Disclosure of fair value measurement of liabilities [line items]
Liabilities	2,075.3	1,441	1,075.6
Level 3 | Burnstone Debt
Disclosure of fair value measurement of liabilities [line items]
Liabilities	2,075.3	1,441	1,075.6
Not measured at fair value in statement of financial position but for which fair value is disclosed [member]
Disclosure of fair value measurement of liabilities [line items]
Liabilities	11,399	15,518.8	15,450.4
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | 2022 and 2025 Notes
Disclosure of fair value measurement of liabilities [line items]
Liabilities	10,135.7	9,609.8	9,808.7
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | US 450 Million Convertible Bond [Member]
Disclosure of fair value measurement of liabilities [line items]
Liabilities		4,578.6	4,496.6
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Burnstone Debt
Disclosure of fair value measurement of liabilities [line items]
Liabilities	R 1,263.3	R 1,330.4	R 1,145.1

Borrowings - LIQUIDITY RISK (De

Borrowings - LIQUIDITY RISK (Details) R in Millions

Dec. 31, 2020USD ($)

Dec. 31, 2020ZAR (R)

Sep. 18, 2020USD ($)

Sep. 11, 2020USD ($)

Dec. 31, 2019ZAR (R)

Dec. 31, 2018ZAR (R)

Sep. 19, 2018USD ($)

Sep. 12, 2018USD ($)

Sep. 11, 2018USD ($)

May 31, 2018ZAR (R)

Sep. 19, 2017USD ($)

Nov. 15, 2016ZAR (R)

Jul. 01, 2014USD ($)

Jul. 01, 2014ZAR (R)

Maturity analysis for financial assets held for managing liquidity risk

Other payables.

R 5,156.6

R 3,448.9

R 2,832.5

Trade and other payables

8,523.8

7,739.5

5,159.9

Total

37,683

42,879.7

44,931.5

Within one year

Maturity analysis for financial assets held for managing liquidity risk

Trade and other payables

8,523.8

7,739.5

5,159.9

Total

12,519.3

9,704.6

13,151.5

Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Total

20,695.5

24,265.6

18,850

After five years

Maturity analysis for financial assets held for managing liquidity risk

Total

4,468.2

8,909.5

12,930

US$600 million RCF

Maturity analysis for financial assets held for managing liquidity risk

Face amount of debt

$ 600,000,000

R 600

R6.0 billion revolving credit facility

Maturity analysis for financial assets held for managing liquidity risk

Face amount of debt

6,000

6,000

R 6,000

US$350 million revolving credit facility

Maturity analysis for financial assets held for managing liquidity risk

Face amount of debt

R 350

2022 and 2025 Notes

Maturity analysis for financial assets held for managing liquidity risk

Face amount of debt | $

$ 349,000,000

US 450 Million Convertible Bond [Member]

Maturity analysis for financial assets held for managing liquidity risk

Face amount of debt | $

$ 383,000,000

$ 200,000

$ 384,000,000

$ 66,000,000

$ 450,000,000

Burnstone Debt

Maturity analysis for financial assets held for managing liquidity risk

Face amount of debt

$ 178,100,000

R 1,883.9

Capital

Maturity analysis for financial assets held for managing liquidity risk

Other payables.

5,088.8

3,808.6

3,386.8

Capital | Within one year

Maturity analysis for financial assets held for managing liquidity risk

Other payables.

2,307.5

775.4

293.3

Capital | Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Other payables.

2,723.3

2,918.6

1,968.9

Capital | After five years

Maturity analysis for financial assets held for managing liquidity risk

Other payables.

58

114.6

1,124.6

Capital | US$600 million RCF

Maturity analysis for financial assets held for managing liquidity risk

Bank borrowings

6,977.7

5,711.9

2,726.5

Capital | US$600 million RCF | Within one year

Maturity analysis for financial assets held for managing liquidity risk

Bank borrowings

872.6

Capital | US$600 million RCF | Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Bank borrowings

6,105.1

5,711.9

2,726.5

Capital | R6.0 billion revolving credit facility

Maturity analysis for financial assets held for managing liquidity risk

Bank borrowings

2,500

5,896.4

Capital | R6.0 billion revolving credit facility | Within one year

Maturity analysis for financial assets held for managing liquidity risk

Bank borrowings

5,896.4

Capital | R6.0 billion revolving credit facility | Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Bank borrowings

2,500

Capital | 2022 and 2025 Notes

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

10,291.9

9,808.4

10,053.6

Capital | 2022 and 2025 Notes | Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

10,291.9

4,951.8

5,075.6

Capital | 2022 and 2025 Notes | After five years

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

4,856.6

4,978

Capital | US 450 Million Convertible Bond [Member]

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

5,376

5,510.4

Capital | US 450 Million Convertible Bond [Member] | Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

5,376

5,510.4

Capital | Burnstone Debt

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

114.3

109

2,552.9

Capital | Burnstone Debt | Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

11.7

109

Capital | Burnstone Debt | After five years

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

102.6

2,552.9

Capital | Other borrowings

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

252.3

Capital | Other borrowings | Within one year

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

252.3

Capital | Franco-Nevada liability

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

2.1

2

2

Capital | Franco-Nevada liability | Within one year

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

2.1

2

2

Capital | Stillwater Convertible Debentures

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

3.8

3.5

3.8

Capital | Stillwater Convertible Debentures | Within one year

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

3.8

3.5

3.8

Interest

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

6,680.6

7,820.8

9,386.9

Interest | Within one year

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

809.5

1,184.2

1,543.8

Interest | Between one and five years

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

1,563.5

2,698.3

3,568.6

Interest | After five years

Maturity analysis for financial assets held for managing liquidity risk

Non-bank borrowings

R 4,307.6

R 3,938.3

R 4,274.5

BORROWINGS - MARKET RISK (Detai

BORROWINGS - MARKET RISK (Details) R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)R / $	Dec. 31, 2019ZAR (R)R / $	Dec. 31, 2018ZAR (R)R / $	Dec. 31, 2017ZAR (R)
Other payables
Borrowings.	R 18,382.6	R 23,736.2	R 24,504.7	R 25,649.5
Currency risk
Other payables
Closing foreign exchange rate | R / $	14.69	14	14.35
Decrease in gain on foreign exchange differences due to decrease in exchange rate	R 147.9	R 102.2	R 38.7
Interest rate risk
Other payables
Amount exposed to risk	18,376.7	23,730.7	24,498.9
Change in interest expense for downward change by 1.5% in interest rate	122.4	143.1	167.7
Change in interest expense for downward change by 1% in interest rate	81.6	95.4	111.8
Change in interest expense for downward change by 0.5% in interest rate	40.8	47.7	55.9
Change in interest expense for upward change by 0.5% in interest rate	(40.8)	(47.7)	(55.9)
Change in interest expense for upward change by 1% in interest rate	(81.6)	(95.4)	(111.8)
Change in interest expense for upward change by 1.5% in interest rate	(122.4)	(143.1)	(167.7)
JIBAR | Interest rate risk
Other payables
Amount exposed to risk		2,500	6,322
Change in interest expense for downward change by 1.5% in interest rate		37.5	88.5
Change in interest expense for downward change by 1% in interest rate		25	59
Change in interest expense for downward change by 0.5% in interest rate		12.5	29.5
Change in interest expense for upward change by 0.5% in interest rate		(12.5)	(29.5)
Change in interest expense for upward change by 1% in interest rate		(25)	(59)
Change in interest expense for upward change by 1.5% in interest rate		(37.5)	(88.5)
LIBOR | Interest rate risk
Other payables
Amount exposed to risk	8,241	7,042.3	3,871.6
Change in interest expense for downward change by 1.5% in interest rate	122.4	105.6	79.2
Change in interest expense for downward change by 1% in interest rate	81.6	70.4	52.8
Change in interest expense for downward change by 0.5% in interest rate	40.8	35.2	26.4
Change in interest expense for upward change by 0.5% in interest rate	(40.8)	(35.2)	(26.4)
Change in interest expense for upward change by 1% in interest rate	(81.6)	(70.4)	(52.8)
Change in interest expense for upward change by 1.5% in interest rate	R (122.4)	R (105.6)	R (79.2)
Minimum | Interest rate risk
Other payables
Debt term	1 month
Maximum | Interest rate risk
Other payables
Debt term	3 months

BORROWINGS - INTEREST RATE CHAN

BORROWINGS - INTEREST RATE CHANGES (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Non-current borrowings exposed to interest rate changes	R 8,157.5	R 9,542.3	R 10,193.6
Committed undrawn facilities	7,336.3	5,688	5,987.1
Uncommitted undrawn facilities	2,459.7	1,050	757.7
Total undrawn facilities	9,796	6,738	6,744.8
Within one year
Disclosure of detailed information about borrowings [line items]
Committed undrawn facilities	229.2		103.6
later than one year and not later than two years
Disclosure of detailed information about borrowings [line items]
Committed undrawn facilities	229.2	672
later than two years and not later than three years
Disclosure of detailed information about borrowings [line items]
Committed undrawn facilities	6,877.9	5,016	5,883.5
JIBAR
Disclosure of detailed information about borrowings [line items]
Non-current borrowings exposed to interest rate changes		2,500	6,322
LIBOR
Disclosure of detailed information about borrowings [line items]
Non-current borrowings exposed to interest rate changes	R 8,157.5	R 7,042.3	R 3,871.6

Borrowings - Capital management

Borrowings - Capital management (Details) R in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)
Borrowings
Actual leverage ratio	(0.1)	1.4	2.5
Leverage ratio maximum per covenant for the first specified period		3.5
Leverage ratio maximum per covenant for the second specified period	2.5
Borrowings with recourse	R 17,119.3	R 26,550.7	R 23,768.5
Cash and cash equivalents	20,205.9	5,586.3	2,499.4
Net debt	(3,086.6)	20,964.4	21,269.1
Adjusted EBITDA	R 49,384.9	R 14,956	R 8,369.4

Borrowings - Reconciliation of

Borrowings - Reconciliation of EBITDA (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Borrowings
Loss before royalties, carbon tax and tax	R 37,250	R (856.3)	R (1,224.3)
Adjusted for:
Amortisation and depreciation	7,592.4	7,214.1	6,613.8
Interest income	(1,065.4)	(560.4)	(482.1)
Finance expense	3,151.8	3,302.5	3,134.7
Share-based payments	512.4	363.3	299.4
Loss/(gain) on financial instruments	2,450.3	6,015.1	(1,704.1)
(Gain)/loss on foreign exchange differences	255	(325.5)	(1,169.1)
Share of results of equity-accounted investees after tax	(1,699.8)	(721)	(344.2)
Change in estimates charged to profit or loss	(464.1)	88.9	(66.6)
Gain on disposal of property, plant and equipment	(98.8)	(76.6)	(60.2)
Impairment loss (reversal of impairment loss) recognised in profit or loss	(121.4)	86	3,041.4
Gain on derecognition of borrowings and derivative instrument			(230)
Gain on acquisition		(1,103)
Loss on BTT early settlement	186.2
Restructuring costs	436.2	1,252.4	142.8
Transaction costs	138.6	447.8	402.5
Loss on settlement of convertible bond	1,506.7
Loss due to dilution of interst in joint operation	30.2
Income on settlement of legal dispute	(580)
Impact of IFRS 16	(147.7)	(131.7)
Occupational healthcare expense	52.3	(39.6)	15.4
Adjusted Earnings Before Interest Tax Depreciation And Amortisation	R 49,384.9	R 14,956	R 8,369.4

Lease liabilities (Details)

Lease liabilities (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of quantitative information about right-of-use assets [line items]
Balance at beginning of the period	R 382.8	R 302
New leases and modifications	65.8	51.5
Lease liabilities on acquisition of subsidiaries		133.3
Repayment of lease liabilities, gross	(147.7)	(131.7)
Interest charge	33.9	33.9
Re-classification and other	(8.8)	(5.7)
Foreign currency translation	0.8	(0.5)
Balance at end of the period	326.8	382.8
Current portion of lease liabilities	(103.6)	(110)
Non-current lease liabilities	223.2	272.8
Short-term leases	17.1	8.6
Leases of low value assets	83.2	34.4
Variable lease payments	10.8	6.5
Total lease expense	111.1	49.5
Disclosure of maturity analysis of operating lease payments [abstract]
Gross lease liabilities	391	474.9
Within one year
Disclosure of maturity analysis of operating lease payments [abstract]
Gross lease liabilities	131	140
Between one and five years
Disclosure of maturity analysis of operating lease payments [abstract]
Gross lease liabilities	244.6	297.8
After five years
Disclosure of maturity analysis of operating lease payments [abstract]
Gross lease liabilities	R 15.4	R 37.1

ENVIRONMENTAL REHABILITATION _6

ENVIRONMENTAL REHABILITATION OBLIGATION (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Environmental Rehabilitation Obligation
Balance at beginning of the year	R 8,714.8	R 6,294.2	R 4,678.7
Interest charge	683.8	578.7	398.8
Payment of environmental rehabilitation obligation	(97.2)	(34.9)	(32.3)
Change in estimates charged to profit or loss	(374.6)	88.9	(90.4)
Changes in estimates capitalised	(317.6)	105.1	618.8
Environmental rehabilitation obligation on acquisition of subsidiaries		1,696.9	672.7
Foreign currency translation	24.6	(14.1)	47.9
Balance at the end of the year	8,633.8	8,714.8	6,294.2
Rehabilitation provision	8,516.6	8,597.6	6,176.2
Other provisions	117.2	R 117.2	R 118
Provision for post closure aspects	R 795.8
Gold
Environmental Rehabilitation Obligation
Inflation rate	6.00%	6.00%	6.00%
Gold | Minimum
Environmental Rehabilitation Obligation
Provision discount rate	3.99%	6.69%	6.27%
Useful life	1 year	1 year	1 year
Gold | Maximum
Environmental Rehabilitation Obligation
Provision discount rate	10.86%	9.99%	9.73%
Useful life	21 years	19 years	19 years
Platinum
Environmental Rehabilitation Obligation
Inflation rate	6.00%	6.00%	6.00%
Platinum | Minimum
Environmental Rehabilitation Obligation
Provision discount rate	3.99%	6.69%	6.27%
Useful life	1 year	1 year	1 year
Platinum | Maximum
Environmental Rehabilitation Obligation
Provision discount rate	10.80%	10.09%	9.81%
Useful life	32 years	31 years	28 years
US Region/ Stillwater
Environmental Rehabilitation Obligation
Inflation rate	2.00%	2.00%	2.00%
US Region/ Stillwater | Minimum
Environmental Rehabilitation Obligation
Provision discount rate	1.45%	2.32%	2.87%
Useful life	24 years	25 years	26 years
US Region/ Stillwater | Maximum
Environmental Rehabilitation Obligation
Provision discount rate	1.65%	2.39%	3.02%
Useful life	38 years	37 years	38 years

OCCUPATIONAL HEALTHCARE OBLIG_3

OCCUPATIONAL HEALTHCARE OBLIGATION (Details) - ZAR (R) R in Millions	Dec. 19, 2019	Jul. 26, 2019	May 03, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other provisions [line items]
Take-up rate (as a percent)				60.00%
Total settlement amount	R 1,372	R 5,000	R 5,000
Reconciliation of changes in other provisions [abstract]
Balance at beginning of the year				R 1,282.1	R 1,274.1	R 1,153.3
Balance at the end of the year				1,194.6	1,282.1	1,274.1
Reconciliation of the non-current and current portion of the occupational healthcare obligation:
Occupational healthcare obligation				1,194.6	1,282.1	1,274.1	R 1,194.6	R 1,282.1	R 1,274.1
Current portion of occupational healthcare obligation							(156.9)	(148.7)	(109.9)
Non-current portion of occupational healthcare obligation							R 1,037.7	R 1,133.4	R 1,164.2
Occupational Healthcare provision
Disclosure of other provisions [line items]
Discount rate applied to cash flow projections							6.65%	8.25%	8.83%
Reconciliation of changes in other provisions [abstract]
Balance at beginning of the year				1,282.1	1,274.1
Interest charge				96.3	115.5	105.4
Change in estimate charge to profit or loss				52.3	(39.6)	15.4
Payments made				(236.1)	(67.9)
Balance at the end of the year				1,194.6	1,282.1	1,274.1
Reconciliation of the non-current and current portion of the occupational healthcare obligation:
Occupational healthcare obligation				R 1,194.6	R 1,282.1	R 1,274.1	R 1,194.6	R 1,282.1	R 1,274.1

Deferred revenue (Details)

Deferred revenue (Details)

Jul. 06, 2020oz

Jul. 06, 2020ozkg

Mar. 02, 2020USD ($)oz

Mar. 02, 2020ZAR (R)ozUSD ($)

Oct. 21, 2019ozR / oz

Oct. 21, 2019kgR / oz

Oct. 21, 2019R / oz

Oct. 21, 2019ZAR (R)R / oz

Apr. 11, 2019USD ($)ozitem

Apr. 11, 2019ZAR (R)ozitem

Sep. 19, 2018USD ($)

Jul. 25, 2018USD ($)

Jul. 25, 2018ZAR (R)

Jul. 31, 2018USD ($)

Dec. 31, 2020USD ($)kgoz

Dec. 31, 2020ZAR (R)kgR / kgoz

Dec. 31, 2019ZAR (R)

Dec. 31, 2018ZAR (R)

Dec. 31, 2016USD ($)

Dec. 31, 2016ZAR (R)

Jul. 06, 2020kg

Jul. 06, 2020ZAR (R)

Oct. 21, 2019ZAR (R)

Jun. 10, 2019ZAR (R)

Apr. 11, 2019kg

Apr. 11, 2019$ / oz

Disclosure Of Contract Liabilities [Line Items]

Quantity of hedged instrument

52,185.2

52,185.2

105,906

105,906

1,623.1

3,294

Quantity per delivery

6,523.2

202.9

8,482

263.8

26,476

26,476

Number of forward contract deliveries | item

4

4

Reference price as percent of prevailing price

80.00%

Average Price

17,371

17,371

17,371

17,371

17,371

Balance at the beginning of the year

R 8,167,100,000

R 6,555,400,000

Deferred revenue advance received

R 1,100,000,000

$ 125,000,000

R 1,750,000,000

$ 500,000,000

770,600,000

2,859,300,000

R 6,555,400,000

BTT early settlement payment

(787,100,000)

Deferred revenue recognised during the period

(2,256,400,000)

(2,227,500,000)

(160,300,000)

Interest charge

349,200,000

352,300,000

160,300,000

Loss on BTT early settlement

186,200,000

Deferred revenue attributable to acquisition

627,600,000

Balance at end of the period

6,429,600,000

8,167,100,000

6,555,400,000

Current portion of deferred revenue

(66,900,000)

(1,270,600,000)

(30,100,000)

Non-current contract liabilities

6,362,700,000

6,896,500,000

6,525,300,000

Western Platinum Limited [Member]

Disclosure Of Contract Liabilities [Line Items]

Quantity of hedged instrument | oz

72,886

72,886

Deferred revenue advance received

$ 50,000,000

R 771,000,000

R 770,600,000

Gold

Disclosure Of Contract Liabilities [Line Items]

Quantity of hedged instrument | kg

1,800

Quantity per delivery | kg

150

150

Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Expected life

67 years

67 years

Inferred resources, as a percent

50.00%

50.00%

Entitlement percentage

4.50%

4.50%

Monthly cash percentage

18.00%

18.00%

Monthly deferred revenue percentage

82.00%

82.00%

Leverage ratio threshold

3.5

3.5

Price averaging period

5 days

5 days

Deferred revenue advance received

$ 500,000,000

R 6,555,400,000

Deferred revenue recognised during the period

R (344,500,000)

(414,000,000)

R (160,300,000)

Wheaton Precious Metals International [Member] | Gold

Disclosure Of Contract Liabilities [Line Items]

Estimated financing rate

5.20%

Entitlement percentage

100.00%

100.00%

BTT streaming revenue

Disclosure Of Contract Liabilities [Line Items]

Estimated financing rate

11.50%

Expected life

6 years

6 years

Entitlement percentage

23.00%

23.00%

Monthly cash percentage

20.00%

20.00%

Balance at the beginning of the year

R 607,000,000

Deferred revenue advance received | $

$ 500,000,000

$ 50,000,000

Deferred revenue recognised during the period

R (18,800,000)

(62,100,000)

Deferred income recognised as of acquisition date

R 627,600,000

Deferred revenue attributable to acquisition

R 628,000,000

Balance at end of the period

607,000,000

Minimum

Disclosure Of Contract Liabilities [Line Items]

Average Price

27,700

1,200

Minimum | Western Platinum Limited [Member]

Disclosure Of Contract Liabilities [Line Items]

Average Price | $

700

700

Minimum | Gold

Disclosure Of Contract Liabilities [Line Items]

Average Price | R / kg

800,000

Minimum | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Estimated financing rate

4.60%

Minimum | BTT streaming revenue

Disclosure Of Contract Liabilities [Line Items]

Entitlement percentage

23.00%

23.00%

Monthly cash percentage

16.00%

16.00%

Basket price per oz | $

$ 106

Maximum

Disclosure Of Contract Liabilities [Line Items]

Average Price

33,386

1,323

Maximum | Western Platinum Limited [Member]

Disclosure Of Contract Liabilities [Line Items]

Average Price | $

1,050

1,050

Maximum | Gold

Disclosure Of Contract Liabilities [Line Items]

Average Price | R / kg

1,080,000

Maximum | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Estimated financing rate

5.20%

Maximum | BTT streaming revenue

Disclosure Of Contract Liabilities [Line Items]

Entitlement percentage

38.00%

38.00%

Monthly cash percentage

20.00%

20.00%

Basket price per oz | $

$ 280

Advance Fully Utilised [Member] | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Monthly cash percentage, 1st level

18.00%

18.00%

Monthly cash percentage, 2nd level

16.00%

16.00%

Monthly cash percentage, 3rd level

14.00%

14.00%

Monthly cash percentage, 4th level

10.00%

10.00%

Advance Not Fully Utilised [Member] | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Monthly cash percentage, 1st level

22.00%

22.00%

Monthly cash percentage, 2nd level

20.00%

20.00%

Monthly cash percentage, 3rd level

18.00%

18.00%

Monthly cash percentage, 4th level

14.00%

14.00%

High Range Of Product Delivery [Member] | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Entitlement percentage

1.00%

1.00%

High Range Of Product Delivery [Member] | Minimum | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Number of ounces delivered | oz

550,000

550,000

Lowest Range Of Product Delivery [Member] | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Entitlement percentage

4.50%

4.50%

Lowest Range Of Product Delivery [Member] | Maximum | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Number of ounces delivered | oz

375,000

375,000

Middle Range Of Product Delivery [Member] | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Entitlement percentage

2.25%

2.25%

Middle Range Of Product Delivery [Member] | Minimum | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Number of ounces delivered | oz

375,000

375,000

Middle Range Of Product Delivery [Member] | Maximum | Wheaton Precious Metals International [Member]

Disclosure Of Contract Liabilities [Line Items]

Number of ounces delivered | oz

550,000

550,000

Forward contract | Gold

Disclosure Of Contract Liabilities [Line Items]

Deferred revenue recognised during the period

R (1,108,000,000)

R (1,751,400,000)

Forward contract | Platinum

Disclosure Of Contract Liabilities [Line Items]

Deferred revenue recognised during the period

R (785,100,000)

US Region/ Stillwater | Minimum

Disclosure Of Contract Liabilities [Line Items]

Useful Life Of Mine Plan

24 years

24 years

25 years

26 years

US Region/ Stillwater | Maximum

Disclosure Of Contract Liabilities [Line Items]

Useful Life Of Mine Plan

38 years

38 years

37 years

38 years

Trade and other payable (Detail

Trade and other payable (Detail) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other payables
Trade creditors	R 4,325.1	R 3,208	R 2,200
Accruals and other creditors	4,166.2	3,195.6	2,952.7
Other	32.5	1,335.9	7.2
Financial liabilities	8,523.8	7,739.5	5,159.9
Payroll creditors	2,491.5	1,898.2	1,465.3
Leave pay accrual	2,016.4	1,692.5	1,152.6
VAT payable	175.7	135.7	78.5
Total trade and other payables	R 13,207.4	R 11,465.9	R 7,856.3

CASH GENERATED BY OPERATIONS (D

CASH GENERATED BY OPERATIONS (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other provisions [line items]
Profit/(loss) for the period	R 30,621.6	R 432.8	R (2,520.7)
Royalties	1,765	431	212.6
Carbon tax	5.2	12.9
Mining and income tax	4,858.2	(1,733)	1,083.8
Interest income	(1,065.4)	(560.4)	(482.1)
Finance expense	3,151.8	3,302.5	3,134.7
Profit before interest, royalties and tax	39,336.4	1,885.8	1,428.3
Adjustments to reconcile profit (loss) [abstract]
Amortisation and depreciation	7,592.4	7,214.1	6,613.8
Share-based payments	512.4	363.3	299.4
Loss on financial instruments	1,904.8	5,731.3	(1,591.3)
(Gain)/loss on foreign exchange differences	(409.9)	(461.4)	(241.3)
Share of results of equity-accounted investees after tax	(1,699.8)	(721)	(344.2)
Impairments	(121.4)	86	3,041.4
Gain on derecognition of borrowings and derivative instrument			(230)
Loss on settlement of convertible bond	1,506.7
Occupational healthcare expense	52.3	(39.6)	15.4
Change in estimate of environmental rehabilitation obligation and right of recovery receivable and payable	464.1	(89.6)	90.4
Gain on acquisition		(1,103)
Deferred revenue recognised during the period	(2,256.4)	(2,227.5)	(160.3)
Loss on BTT early settlement	186.2
Income on settlement of legal dispute	(580)
Other	(138)	(183.8)	(192.1)
Total cash generated by operations	45,185.5	10,565.9	R 8,709
Occupational Healthcare provision
Adjustments to reconcile profit (loss) [abstract]
Payments made	R (236.1)	R (67.9)

CHANGE IN WORKING CAPITAL (Deta

CHANGE IN WORKING CAPITAL (Detail) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change In Working Capital [Abstract]
Inventories	R (9,026.8)	R (5,000)	R (924.8)
Trade and other receivables	(2,167)	3,115.2	(461)
Trade and other payables	1,758.7	1,259.2	315.8
Total change in working capital	R (9,435.1)	R (625.6)	R (1,070)

Financial instruments and ris_3

Financial instruments and risk management (Details) - ZAR (R) R in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
(Loss)/gain on financial instruments
Financial assets	R 6,042.6	R 3,836.2	R 6,317.3
Maximum investment percent	2.50%
Environment rehabilitation obligation funds. | Level 1
(Loss)/gain on financial instruments
Financial assets, at fair value	R 4,111	3,578.3	3,634
Environment rehabilitation obligation funds. | Level 2
(Loss)/gain on financial instruments
Financial assets, at fair value	823	1,023.9	364.7
Trade receivables - PGM sales | Level 2
(Loss)/gain on financial instruments
Financial assets, at fair value	4,030	2,341.6	5,310.1
Other investments | Level 1
(Loss)/gain on financial instruments
Financial assets, at fair value	603.4	414.7	81.5
Other investments | Level 3
(Loss)/gain on financial instruments
Financial assets, at fair value	R 243.6	184	74.5
Derivative financial instrument | Level 2
(Loss)/gain on financial instruments
Financial liabilities, at fair value		4,144.9	408.8
Rand gold forward sale contracts | Level 2
(Loss)/gain on financial instruments
Financial liabilities, at fair value		R 68.3	R 240.8

FINANCIAL INSTRUMENTS AND RIS_4

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT- Working capital and going concern assessment (Details) shares in Thousands, R in Millions

Oct. 21, 2019ZAR (R)

Apr. 11, 2019USD ($)

Apr. 11, 2019ZAR (R)

Oct. 31, 2020ZAR (R)

Jul. 31, 2018USD ($)

Jun. 30, 2020

Dec. 31, 2020ZAR (R)

Dec. 31, 2019ZAR (R)shares

Dec. 31, 2018ZAR (R)shares

Dec. 31, 2020USD ($)shares

Dec. 31, 2020ZAR (R)shares

Sep. 18, 2020USD ($)

Sep. 11, 2020USD ($)

Sep. 12, 2018USD ($)

Sep. 11, 2018USD ($)

May 31, 2018ZAR (R)

Dec. 31, 2017ZAR (R)shares

Sep. 19, 2017USD ($)

Jun. 27, 2017USD ($)

Nov. 15, 2016ZAR (R)

Working capital and going concern assessment

Profit or loss

R 30,621.6

R 432.8

R (2,520.7)

Working capital

34,755.5

11,836.9

562.7

Equity

31,138.3

24,724.4

R 70,716

R 23,998.2

Cash from operating activities

27,149.3

9,464

12,197.2

Committed undrawn facilities

5,688

5,987.1

7,336.3

Cash and cash equivalents

5,619

2,549.1

20,239.8

R 2,062.4

Borrowings, current

38.3

6,188.2

885.6

Borrowings, non-current

23,697.9

18,316.5

R 17,497

Loans repaid

18,335.1

R 22,008.3

R 21,231.5

Shares issued upon conversion of convertible bond

R 12,573.2

Actual leverage ratio

1.4

2.5

(0.1)

(0.1)

Interest coverage ratio

79.8

6.5

4.9

Leverage ratio maximum per covenant for the first specified period

3.5

Leverage ratio maximum per covenant for the second specified period

2.5

Production capacity - gold

86.00%

Production capacity - PGM

73.00%

Number of shares issued | shares

2,670,030

2,266,261

2,923,571

2,923,571

2,168,721

Deferred revenue advance received

R 1,100

$ 125,000,000

R 1,750

$ 500,000,000

R 770.6

R 2,859.3

R 6,555.4

US Region/ Stillwater

Working capital and going concern assessment

Profit or loss

R 7,777.8

5,065.1

(1,531.4)

Production losses - PGM

4.00%

Minimum

Working capital and going concern assessment

Interest coverage ratio

4

US$600 million RCF

Working capital and going concern assessment

Notional amount

$ 600,000,000

R 600

Total drawn | $

475,000,000

Borrowings, current | $

150,000,000

Borrowings, non-current | $

450,000,000

Loans repaid

R 6,802.2

5,826.2

2,744.7

US$500 million 6.125$% June 2022 Senior Notes

Working capital and going concern assessment

Notional amount | $

353,700,000

$ 500,000,000

Borrowings, current | $

$ 353,700,000

R6.0 billion revolving credit facility

Working capital and going concern assessment

Notional amount

6,000

R 6,000

R 6,000

Loans repaid

5,046.4

R5.5 billion RCF

Working capital and going concern assessment

Notional amount

5,500

R 5,500

Loans repaid

7,500

R 0

0

US 450 Million Convertible Bond [Member]

Working capital and going concern assessment

Notional amount | $

$ 383,000,000

$ 200,000

$ 384,000,000

$ 66,000,000

$ 450,000,000

Loans repaid

R 13.2

13.2

R 745.2

Shares issued upon conversion of convertible bond

R 12,573.2

R 12,573.2

FINANCIAL INSTRUMENTS AND RIS_5

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - Foreign currency risk (Details) R in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020ZAR (R)	Dec. 31, 2019ZAR (R)R / $	Dec. 31, 2018ZAR (R)	Dec. 31, 2020USD ($)R / $	Dec. 31, 2020ZAR (R)R / $	Dec. 31, 2018USD ($)R / $	Dec. 31, 2018ZAR (R)R / $	May 31, 2018ZAR (R)
Disclosure of risk management strategy related to hedge accounting [line items]
Contracts amount		R 3,836.2			R 6,042.6		R 6,317.3
Total (loss)/gain on financial instruments	R (2,450.3)	R (6,015.1)	R 1,704.1
Currency risk
Disclosure of risk management strategy related to hedge accounting [line items]
Closing foreign exchange rate | R / $		14		14.69	14.69	14.35	14.35
Currency risk | Forward contract
Disclosure of risk management strategy related to hedge accounting [line items]
Contracts amount | $						$ 12.1
Currency risk | Forward contract | Weighted average [member]
Disclosure of risk management strategy related to hedge accounting [line items]
Closing foreign exchange rate | R / $						14.11	14.11
US$600 million RCF
Disclosure of risk management strategy related to hedge accounting [line items]
Face amount of debt				$ 600				R 600
US$350 million revolving credit facility
Disclosure of risk management strategy related to hedge accounting [line items]
Face amount of debt								R 350

FINANCIAL INSTRUMENTS AND RIS_6

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - Commodity price sensitivity and hedging (Details)	Dec. 31, 2020ZAR (R)ozkgR / kg$ / oz	Jul. 06, 2020oz	Jul. 06, 2020kg	Jul. 06, 2020ZAR (R)	Dec. 31, 2019ZAR (R)	Oct. 21, 2019R / oz	Oct. 21, 2019ZAR (R)	Apr. 11, 2019oz	Apr. 11, 2019kg	Apr. 11, 2019$ / oz	Dec. 31, 2018ZAR (R)
Foreign currency sensitivity analysis
Quantity of hedged instrument		52,185.2	1,623.1					105,906	3,294
Average Price						17,371	17,371
Contracts amount | R	R 6,042,600,000				R 3,836,200,000						R 6,317,300,000
Minimum
Foreign currency sensitivity analysis
Average Price				27,700						1,200
Maximum
Foreign currency sensitivity analysis
Average Price				33,386						1,323
Gold
Foreign currency sensitivity analysis
Quantity of hedged instrument | kg	1,800
Gold | Minimum
Foreign currency sensitivity analysis
Average Price | R / kg	800,000
Gold | Maximum
Foreign currency sensitivity analysis
Average Price | R / kg	1,080,000
Palladium
Foreign currency sensitivity analysis
Quantity of hedged instrument | oz	240,000
Palladium | Minimum
Foreign currency sensitivity analysis
Average Price | $ / oz	1,500
Palladium | Maximum
Foreign currency sensitivity analysis
Average Price | $ / oz	3,400
Commodity price risk | Gold
Foreign currency sensitivity analysis
Quantity of hedged instrument | kg	450
Commodity price risk | Gold | Minimum
Foreign currency sensitivity analysis
Average Price | R / kg	800,000
Commodity price risk | Gold | Maximum
Foreign currency sensitivity analysis
Average Price | R / kg	1,080,000
Commodity price risk | Palladium
Foreign currency sensitivity analysis
Quantity of hedged instrument | oz	130,000
Commodity price risk | Palladium | Minimum
Foreign currency sensitivity analysis
Average Price | $ / oz	1,500
Commodity price risk | Palladium | Maximum
Foreign currency sensitivity analysis
Average Price | $ / oz	3,400
Futures contract | Commodity price risk
Foreign currency sensitivity analysis
Contracts amount | R	R 0				R 0

COMMITMENTS (Details)

COMMITMENTS (Details) - ZAR (R) R in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	R 7,534.8	R 5,972.3	R 4,411.7
Contracted for capital expenditure	772.7	594.5	281.8
Other guarantees	1,487.8	1,420.5	266.7
Burnstone
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	8	5.4	40.4
Kloof
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	1,515.6	1,289.8	970.2
Driefontein
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	884.8	846.1	830.9
Beatrix
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	169.4	231.7	218
Stillwater
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	961	762.4
Cooke
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	54.1	55.1	195.5
Kroondal
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	318.9	220.3	131.6
Platinum Mile
Disclosure Of Commitments [Line Items]
Authorised capital expenditure		19.9	72.3
Rustenburg Operations
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	2,573.7	2,033.1	1,830
Marikana operations
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	63.4	153.4
Other segments
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	985.9	355.1	122.8
DRD Gold Segment [Member]
Disclosure Of Commitments [Line Items]
Authorised capital expenditure	R 605.1	R 133.5	R 37.5

Contingent liabilities (Details

Contingent liabilities (Details) $ / shares in Units, R in Millions, $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Nov. 30, 2019USD ($)	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)item
Disclosure of contingent liabilities [line items]
Payment to dissenting shareholders | R			R 319.4	R 1,375.8
Litigation, amount claimed	$ 20
Class Action Suits Alleging Violations Of US Securities Laws [Member]
Disclosure of contingent liabilities [line items]
Number of petitions | item				2
Sibanye-Stillwater dissenting shareholder action
Disclosure of contingent liabilities [line items]
Dissenting shareholder ownership, as a percent		4.50%
Price offered per share | $ / shares		$ 18
Payment to dissenting shareholders		$ 21

RELATED-PARTY TRANSACTIONS - Tr

RELATED-PARTY TRANSACTIONS - Transactions and balances (Details) - Rand Refinery - ZAR (R) R in Millions	12 Months Ended			24 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Interest in associates (as a percent)	44.40%	44.40%
Dividends received from related parties	R 111.2	R 0		R 0
Revenue from sale of goods, related party transactions	298	505.5	R 616.2
Refining fees paid	(31)	(24.8)	(29.1)
Trade payable	R (6.4)	R (4.5)	R (3.1)	R (4.5)

RELATED-PARTY TRANSACTIONS - Ke

RELATED-PARTY TRANSACTIONS - Key management remuneration (Details)	12 Months Ended
	Dec. 31, 2020ZAR (R)R / £R / $	Dec. 31, 2019ZAR (R)	Dec. 31, 2018ZAR (R)
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	R 110,134,000	R 106,605,000	R 83,635,000
Share awards and conditional share proceeds	127,096,600	120,477,700	46,406,000
Pension scheme total contributions	6,008,000	5,300,000	4,546,000
Total	R 243,238,600	232,382,700	134,587,000
Average foreign exchange rate | R / $	16.46
Directors and Prescribed officers
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	R 55,822,000
Cash bonus accrued	50,343,000
Share awards and conditional share proceeds	180,250,000
Pension scheme total contributions	6,009,000
Expense allowance and other benefits	3,969,000
Total	296,393,000	142,143,000	134,587,000
Neal Froneman
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	13,336,000
Cash bonus accrued	13,405,000
Share awards and conditional share proceeds	30,292,000
Pension scheme total contributions	838,000
Expense allowance and other benefits	102,000
Total	R 57,973,000	31,917,000	35,760,000
Average foreign exchange rate | R / $	16.46
Charl Keyter
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	R 6,353,000
Cash bonus accrued	6,526,000
Share awards and conditional share proceeds	15,067,000
Pension scheme total contributions	937,000
Expense allowance and other benefits	80,000
Total	28,963,000	16,024,000	17,697,000
Chris Bateman
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	7,058,000
Cash bonus accrued	3,484,000
Share awards and conditional share proceeds	52,404,000
Pension scheme total contributions	959,000
Expense allowance and other benefits	3,054,000
Total	R 66,959,000	25,289,000	16,885,000
Average foreign exchange rate | R / $	16.46
Shadwick Bessit [Member]
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	R 4,218,000
Cash bonus accrued	4,022,000
Share awards and conditional share proceeds	5,749,000
Pension scheme total contributions	769,000
Expense allowance and other benefits	31,000
Total	14,789,000	10,595,000	688,000
Hartley Dikgale
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	977,000
Cash bonus accrued	712,000
Share awards and conditional share proceeds	26,852,000
Pension scheme total contributions	65,000
Expense allowance and other benefits	553,000
Total	29,159,000	7,898,000	8,761,000
Dawie Mostert
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	3,870,000
Cash bonus accrued	3,660,000
Share awards and conditional share proceeds	8,553,000
Pension scheme total contributions	545,000
Expense allowance and other benefits	27,000
Total	16,655,000	9,284,000	10,112,000
Themba Nkosi
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	3,788,000
Cash bonus accrued	3,178,000
Share awards and conditional share proceeds	8,005,000
Pension scheme total contributions	292,000
Expense allowance and other benefits	23,000
Total	15,286,000	8,117,000	7,265,000
Wayne Robinson
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	4,532,000
Cash bonus accrued	4,483,000
Share awards and conditional share proceeds	9,848,000
Pension scheme total contributions	381,000
Expense allowance and other benefits	28,000
Total	19,272,000	10,044,000	10,925,000
Richard Stewart
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	4,075,000
Cash bonus accrued	3,669,000
Share awards and conditional share proceeds	10,635,000
Pension scheme total contributions	467,000
Expense allowance and other benefits	27,000
Total	18,873,000	9,428,000	12,986,000
Robert Van Niekerk
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	5,156,000
Cash bonus accrued	5,486,000
Share awards and conditional share proceeds	11,700,000
Pension scheme total contributions	589,000
Expense allowance and other benefits	44,000
Total	22,975,000	R 13,547,000	R 13,508,000
Laurent Charbonnier [Member]
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	1,315,000
Cash bonus accrued	773,000
Share awards and conditional share proceeds	515,000
Pension scheme total contributions	11,000
Total	R 2,614,000
Average foreign exchange rate | R / £	21.10
Lerato Legong [Member]
Disclosure of transactions between related parties [line items]
Salary/short-term employee benefits	R 1,144,000
Cash bonus accrued	945,000
Share awards and conditional share proceeds	630,000
Pension scheme total contributions	156,000
Total	R 2,875,000

RELATED-PARTY TRANSACTIONS - No

RELATED-PARTY TRANSACTIONS - Non-executive director fees (Details) - ZAR (R)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Total	R 243,238,600	R 232,382,700	R 134,587,000
Non-executive directors
Disclosure of transactions between related parties [line items]
Directors' fees	13,215,000
Committee fees	5,333,000
Expense allowance and other benefits	496,000
Total	19,044,000	16,290,000
Tim Cumming
Disclosure of transactions between related parties [line items]
Directors' fees	1,042,000
Committee fees	743,000
Expense allowance and other benefits	124,000
Total	1,909,000	1,795,000
Savannah Danson
Disclosure of transactions between related parties [line items]
Directors' fees	1,042,000
Committee fees	638,000
Total	1,680,000	1,609,000
Barry Davison
Disclosure of transactions between related parties [line items]
Total		666,000
Harry Kenyon-Slaney [Member]
Disclosure of transactions between related parties [line items]
Directors' fees	1,199,000
Committee fees	775,000
Expense allowance and other benefits	140,000
Total	2,114,000	1,699,000
Rick Menell
Disclosure of transactions between related parties [line items]
Directors' fees	1,679,000
Committee fees	354,000
Expense allowance and other benefits	81,000
Total	2,114,000	1,831,000
Sello Moloko
Disclosure of transactions between related parties [line items]
Total		1,407,000
Nkosemntu Nika
Disclosure of transactions between related parties [line items]
Directors' fees	1,042,000
Committee fees	638,000
Expense allowance and other benefits	28,000
Total	1,708,000	1,609,000
Keith Rayner
Disclosure of transactions between related parties [line items]
Directors' fees	1,042,000
Committee fees	822,000
Total	1,864,000	1,881,000
Sue van der Merwe
Disclosure of transactions between related parties [line items]
Directors' fees	1,042,000
Committee fees	638,000
Expense allowance and other benefits	36,000
Total	1,716,000	1,609,000
Jerry Vilakazi
Disclosure of transactions between related parties [line items]
Directors' fees	1,042,000
Committee fees	380,000
Total	1,422,000	R 1,362,000
Vincent Maphai [Member]
Disclosure of transactions between related parties [line items]
Directors' fees	255,000
Committee fees	72,000
Total	R 327,000

RELATED-PARTY TRANSACTIONS - _2

RELATED-PARTY TRANSACTIONS - Key management share ownership (Details) - shares	Apr. 22, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Directors
Disclosure of transactions between related parties [line items]
Total share ownership		6,835,179	6,710,926	7,944,068
Neal Froneman
Disclosure of transactions between related parties [line items]
Total share ownership		4,829,128	4,858,723	4,555,954
Percentage of shares		0.17%	0.18%	0.20%
Total share ownership in escrow	2,725,411
ADR shares held in escrow	319,165
Charl Keyter
Disclosure of transactions between related parties [line items]
Total share ownership		1,775,994	1,673,316	1,530,119
Percentage of shares		0.06%	0.06%	0.07%
Total share ownership in escrow	2,037,730
Tim Cumming
Disclosure of transactions between related parties [line items]
Total share ownership		1,242	242	106
Barry Davison
Disclosure of transactions between related parties [line items]
Total share ownership				1,567,710
Percentage of shares				0.07%
Rick Menell
Disclosure of transactions between related parties [line items]
Total share ownership		84,625	108,625	108,625
Sello Moloko
Disclosure of transactions between related parties [line items]
Total share ownership				111,534
Keith Rayner
Disclosure of transactions between related parties [line items]
Total share ownership		68,992	68,992	68,992
Sue van der Merwe
Disclosure of transactions between related parties [line items]
Total share ownership		1,027	1,028	1,028
Vincent Maphai [Member]
Disclosure of transactions between related parties [line items]
Total share ownership		50,000
Savannah Danson
Disclosure of transactions between related parties [line items]
Total share ownership		2,519
Harry Kenyon-Slaney [Member]
Disclosure of transactions between related parties [line items]
Total share ownership		16,852
ADR shares held		4,213
Elaine Jay Dorward-King [Member]
Disclosure of transactions between related parties [line items]
Total share ownership		4,800
Chris Bateman
Disclosure of transactions between related parties [line items]
Total share ownership			32,747	32,747
Shadwick Bessit [Member]
Disclosure of transactions between related parties [line items]
Total share ownership		94,707	31,652	219,782
Percentage of shares				0.01%
Hartley Dikgale
Disclosure of transactions between related parties [line items]
Total share ownership			184,311	114,744
Percentage of shares			0.01%	0.01%
Dawie Mostert
Disclosure of transactions between related parties [line items]
Total share ownership	6,100	38,975	38,975	50,743
Total share ownership in escrow	989,754
Themba Nkosi
Disclosure of transactions between related parties [line items]
Total share ownership		59,022	796	19,107
Total share ownership in escrow	795,975
Wayne Robinson
Disclosure of transactions between related parties [line items]
Total share ownership		184,333	73,292	39,321
Percentage of shares		0.01%
Total share ownership in escrow	915,070
ADR shares held in escrow	9,036
Richard Stewart
Disclosure of transactions between related parties [line items]
Total share ownership		105,303	362,747	421,653
Percentage of shares			0.01%	0.02%
Total share ownership in escrow	1,135,892
Robert Van Niekerk
Disclosure of transactions between related parties [line items]
Total share ownership	366	24,341	257,732	271,537
Percentage of shares			0.01%	0.01%
Total share ownership in escrow	1,598,602
Laurent Charbonnier [Member]
Disclosure of transactions between related parties [line items]
Total share ownership		35,620
ADR shares held		8,905

Events after the reporting pe_2

Events after the reporting period (Details) t in Thousands, € in Millions, $ in Millions

Feb. 23, 2021EUR (€)tranchemit

Jul. 06, 2020oz

Jul. 06, 2020ozkg

Oct. 21, 2019ozR / oz

Oct. 21, 2019kgR / oz

Oct. 21, 2019ZAR (R)R / oz

Apr. 11, 2019USD ($)oz

Apr. 11, 2019ZAR (R)oz

Apr. 30, 2021ZAR (R)

Jul. 31, 2018USD ($)

Dec. 31, 2020ZAR (R)

Dec. 31, 2019ZAR (R)

Dec. 31, 2018ZAR (R)

Jul. 06, 2020kg

Jul. 06, 2020ZAR (R)

Jan. 10, 2020

Oct. 21, 2019ZAR (R)

Apr. 11, 2019kg

Apr. 11, 2019$ / oz

Nov. 22, 2017

Events after the reporting period

Average price of hedging instrument

17,371

17,371

17,371

17,371

Nominal amount of hedging instrument

52,185.2

52,185.2

105,906

105,906

1,623.1

3,294

Quantity per month

6,523.2

202.9

8,482

263.8

26,476

26,476

Deferred revenue advance received

R 1,100,000,000

$ 125

R 1,750,000,000

$ 500

R 770,600,000

R 2,859,300,000

R 6,555,400,000

Minimum

Events after the reporting period

Average price of hedging instrument

27,700

1,200

Maximum

Events after the reporting period

Average price of hedging instrument

33,386

1,323

DRDGOLD Limited

Events after the reporting period

Percentage of voting equity interests acquired

12.05%

38.05%

Major business combination [member] | Keliber Oy [Member]

Events after the reporting period

Quantity Of Ore Reserves | t

9,300

Ore Reserves, Period Of Extraction

13 years

Ore Reserves, Annual Production Quantity | t

15

Ore Reserves, Distance From Facility | mi

50

Initial Investment Amount

€ 30

Investment, Amount Per Tranche

€ 15

Percentage of voting equity interests acquired

30.00%

Investment, Amount Offered To Shareholders Of Investee

€ 10

Investment, Number Of Tranches | tranche

2

Restructuring Transaction [Member]

Events after the reporting period

Dividend cap amount | R

R 2,600,000,000

Dividend funding, as a percent

90.00%

Preference share redemption period

12 years 6 months

Trickle dividend rate

10.00%