1
Sibanye Stillwater Limited
Incorporated in the Republic of South Africa
Incorporated in the Republic of South Africa
Registration number 2014/243852/06
Share codes: SSW (JSE) and SBSW (NYSE)
Share codes: SSW (JSE) and SBSW (NYSE)
ISIN – ZAE000259701
Issuer code: SSW
Issuer code: SSW
(“Sibanye-Stillwater”,”the Company” and/or “the Group”)
Registered Address:
Constantia Office Park
Constantia Office Park
Bridgeview House • Building 11 • Ground Floor
Cnr 14th Avenue & Hendrik Potgieter Road
Cnr 14th Avenue & Hendrik Potgieter Road
Weltevreden Park • 1709
Postal Address:
Private Bag X5 • Westonaria • 1780
Private Bag X5 • Westonaria • 1780
Tel +27 11 278 9600 • Fax +27 11 278 9863
Website:
www.sibanyestillwater.com
MARKET RELEASE
Exhibit 99.1
Production update for the year ended 31 December 2020
Johannesburg, 20 January 2021: Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased to
provide a production update for the year ending 31 December 2020.
The Group operating performance for the year ended 31 December 2020 was extremely pleasing, with
improved production for H2 2020, from all the operating segments, relative to H1 2020. This solid operational
performance was achieved despite the ongoing implementation and observance of COVID-19 protocols
performance was achieved despite the ongoing implementation and observance of COVID-19 protocols
to support the health and wellbeing of our workforce and mitigate the onset of the second wave of
COVID-19 infections.
PGM production from the SA PGM operations of 1.58 million 4Eoz (including attributable ounces from
Mimosa), exceeded the upper limit of revised annual guidance of 1.35 – 1.45m 4Eoz by 9%, with PGM
Mimosa), exceeded the upper limit of revised annual guidance of 1.35 – 1.45m 4Eoz by 9%, with PGM
production of 918,678 4Eoz for H2 2020 40% higher than for H1 2020.
Mined PGM production from the US PGM operations of 603,066 2Eoz for 2020 was marginally below revised
guidance of 620,000 – 650,000 2Eoz, primarily due to the impact of a spike in COVID-19 infections at the
operations in Q4 2020, associated with the second wave of COVID-19 in Montana. Despite the COVID-19
disruptions, H2 2020 production of 305,326 2Eoz was 3% higher than for H1 2020, with the production trend
disruptions, H2 2020 production of 305,326 2Eoz was 3% higher than for H1 2020, with the production trend
improving throughout the year.
Production from the SA Gold operations (excluding DRDGOLD) of 25,192kg (809,941oz) was 3% above
revised guidance of 23,500 – 24,500kg (756,000oz – 788,000oz), with production of 12,638 kg (406,321oz) for
H2 2020, 48% higher than for H1 2020.
H2 2020, 48% higher than for H1 2020.
Neal Froneman, CEO of Sibanye-Stillwater commenting on the 2020 Group production performance said:
“The manner in which the initial threat of COVID-19 was handled at our operations in H1 2020 and the
subsequent, safe return to normalised production levels by year-end was extremely pleasing. We continue
to observe strict COVID-19 protocols at the operations as the health and safety of our employees remain
to observe strict COVID-19 protocols at the operations as the health and safety of our employees remain
our primary imperative. In the absence of unexpected disruptions, the Group is well positioned to deliver
a much more consistent and significantly improved operating result for 2021”.
a much more consistent and significantly improved operating result for 2021”.
Results presentation
Sibanye-Stillwater will release operating and financial results for the six-months and year-ended 31
December 2020 on Thursday, 18 February 2021 and will host a live presentation shared via a webcast and
conference call at 10h00 (CAT) / 03h00 (EST) / 01h00 (MDT). There will also be a conference call for
conference call at 10h00 (CAT) / 03h00 (EST) / 01h00 (MDT). There will also be a conference call for
participants in the Americas at 17h00 (CAT) / 10h00 (EST) / 08h00 (MDT). For the webcast link and
conference call dial-in details, please refer to our website:
conference call dial-in details, please refer to our website:
https://www.sibanyestillwater.com/assets/mailers/YE2020/
.
2
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014
James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014
www.sibanyestillwater.com
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD-LOOKING STATEMENTS
The information in this announcement may contain forward-looking statements within the meaning of the
“safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. These
forward-looking statements, including, among others, those relating to Sibanye Stillwater Limited’s
(“Sibanye-Stillwater” or the “Group”) financial positions, business strategies, plans and objectives of
(“Sibanye-Stillwater” or the “Group”) financial positions, business strategies, plans and objectives of
management for future operations, are necessarily estimates reflecting the best judgment of the senior
management and directors of Sibanye-Stillwater.
management and directors of Sibanye-Stillwater.
All statements other than statements of historical facts included in this announcement may be forward-
looking statements. Forward-looking statements also often use words such as “will”, “forecast”, “potential”,
“estimate”, “expect” and words of similar meaning. By their nature, forward-looking statements involve risk
“estimate”, “expect” and words of similar meaning. By their nature, forward-looking statements involve risk
and uncertainty because they relate to future events and circumstances and should be considered in
light of various important factors, including those set forth in this disclaimer. Readers are cautioned not to
light of various important factors, including those set forth in this disclaimer. Readers are cautioned not to
place undue reliance on such statements.
The important factors that could cause Sibanye-Stillwater’s actual results, performance or achievements
to differ materially from those in the forward-looking statements include, among others, our future business
prospects; financial positions; debt position and our ability to reduce debt leverage; business, political and
social conditions in the United States, South Africa, Zimbabwe and elsewhere; plans and objectives of
social conditions in the United States, South Africa, Zimbabwe and elsewhere; plans and objectives of
management for future operations; our ability to obtain the benefits of any streaming arrangements or
pipeline financing; our ability to service our bond instruments; changes in assumptions underlying Sibanye-
pipeline financing; our ability to service our bond instruments; changes in assumptions underlying Sibanye-
Stillwater’s estimation of their current mineral reserves and resources; the ability to achieve anticipated
efficiencies and other cost savings in connection with past, ongoing and future acquisitions, as well as at
existing operations; our ability to achieve steady state production at the Blitz project; the success of
existing operations; our ability to achieve steady state production at the Blitz project; the success of
Sibanye-Stillwater’s business strategy; exploration and development activities; the ability of Sibanye-
Stillwater to comply with requirements that they operate in a sustainable manner; changes in the market
Stillwater to comply with requirements that they operate in a sustainable manner; changes in the market
price of gold, PGMs and/or uranium; the occurrence of hazards associated with underground and surface
gold, PGMs and uranium mining; the occurrence of labour disruptions and industrial action; the availability,
terms and deployment of capital or credit; changes in relevant government regulations, particularly
terms and deployment of capital or credit; changes in relevant government regulations, particularly
environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral
rights and business ownership, including any interpretations thereof which may be subject to dispute; the
rights and business ownership, including any interpretations thereof which may be subject to dispute; the
outcome and consequence of any potential or pending litigation or regulatory proceedings or other
environmental, health and safety issues; power disruptions, constraints and cost increases; supply chain
shortages and increases in the price of production inputs; fluctuations in exchange rates, currency
shortages and increases in the price of production inputs; fluctuations in exchange rates, currency
devaluations, inflation and other macro-economic monetary policies; the occurrence of temporary
stoppages of mines for safety incidents and unplanned maintenance; the ability to hire and retain senior
stoppages of mines for safety incidents and unplanned maintenance; the ability to hire and retain senior
management or sufficient technically skilled employees, as well as their ability to achieve sufficient
representation of historically disadvantaged South Africans in management positions; failure of
information technology and communications systems; the adequacy of insurance coverage; any social
information technology and communications systems; the adequacy of insurance coverage; any social
unrest, sickness or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-
Stillwater’s operations; and the impact of HIV, tuberculosis and the spread of other contagious diseases,
such as coronavirus (“COVID-19”). Further details of potential risks and uncertainties affecting Sibanye-
such as coronavirus (“COVID-19”). Further details of potential risks and uncertainties affecting Sibanye-
Stillwater are described in Sibanye-Stillwater’s filings with the Johannesburg Stock Exchange and the
United States Securities and Exchange Commission, including the Integrated Annual Report 2019 and the
United States Securities and Exchange Commission, including the Integrated Annual Report 2019 and the
Annual Report on Form 20-F for the fiscal year ended 31 December 2019.
These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly
disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the
extent legally required).
extent legally required).