ESG

Sibanye-Stillwater poised to declare force majeure

Sibanye-Stillwater (JSE: SSW) has said it would declare force majeure on supply contracts for South African platinum group metals output due to the country’s 21-day lockdown, according to Reuters.

Staff reporter
 Sibanye-Stillwater relisted recently under new its new ticker codes, SSW on JSE and SBSW on the NYSE

Sibanye-Stillwater relisted recently under new its new ticker codes, SSW on JSE and SBSW on the NYSE

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here

South Africa's mines were ordered scale down last week as part of a nationwide shutdown, in effect from midnight on March 26, to stem the spread of COVID-19.  

Coal mines supplying Eskom, including South32's South Africa Energy Coal, have been allowed to continue operations due to their role in maintaining power generation.

Sibanye-Stillwater said last week it had begun measures to put its South African gold and platinum group metals operations on temporary care and maintenance and enable the safe resumption of operations after the lockdown.

It had said at the time the suspension would adversely impact production.

Spokesman James Wellsted told the wire service on Monday the company was unable to supply customers now its operations had closed down "so we will have to declare force majeure".

The nationwide lockdown has offered further strength to PGM prices, which had been lifted when Anglo American Platinum declared force majeure earlier this month following the temporary shutdown of its Anglo Converter Plant in Rustenburg. 

Amplats said on Friday some of its operations might continue on a reduced basis and critical care and maintenance would continue at all operations, including repair of the Anglo Converter Plant's Phase B unit.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.