2019 Integrated
report
Salient features
World’s largest primary producer of platinum and rhodium, and the second largest producer of palladium (as per 2018)
Leading global recycler and processor of spent PGM catalytic converter materials
Top tier gold producer, ranking third globally, on a gold-equivalent basis
We produce iridium, ruthenium, chrome, copper and nickel as co- and by-products
FTSE/JSE Responsible Investment Index We relisted on the Johannesburg and New York stock exchanges, under ticker codes JSE:SSW and NYSE:SBSW in February 2020
We produced 2.2Moz of PGMs and 0.9Moz of gold
-
Workforce of 84,521 people, 69,450 employees and 15,071 contractors
11 million fatality free shifts achieved on 11 March 2020 at the SA gold operations
Market capitalisation of R96 billion (US$6.6 billion) at 31 December 2019, at an exchange rate of US$/14.00
Leverage reduced to 1.25X net debt adjusted: EBITDA1
- The Group reports adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) based on the formula included in the facility agreements for compliance with the debt covenant formula. For a reconciliation please refer to the consolidated financial statements, note 26.9: capital management. The 1.25x includes Marikana for 12 months as per the covenant definition
Portfolio of assets
- SA gold (oz%)
- SA PGMs (4E%)
- US PGMs (2E%)
Reserves split 2019

Production split 2019

Adjusted EBITDA (Rm)
H2 2019


US PGM operations
2E PGM production
593,974 oz3E PGM from recycling
853,130 ozEmployees
2,661SED spend
R5.76mLTIFR
7.80Fatalities
ZeroEmission intensity
0.18Water use intensity
0.63

SA PGM operations
4E PGM production
1,608,332 ozAll-in sustaining cost
$1,027/ozEmployees
44,096SED spend
R59mLTIFR
7.80Fatalities
6Emission intensity
0.10Water use intensity
0.74

SA GOLD
Gold production
932,659 ozAll-in sustaining cost
$1,544/ozEmployees
28,921SED spend
R93mLTIFR
6.33Fatalities
ZeroEmission intensity
0.27Water use intensity
1.97
Governance
Download [PDF - 1.45MB]An ESG sub-committee of the Group Executive Committee was appointed
Successful growth of acquisitions; R1.2 billion of annualised synergies by end 2020 from Marikana integration
Sibanye-Stillwater gained ICMM membership in February 2020
RESPONSIBLE LEADERSHIP
An automated governance framework is being developed
- Dr Vincent Maphai joined as the new Chairman of the Board
- Sustaining an ethical culture: two board sub-committees oversee compliance of ethical practices
- 18% of Board members are female
- 45.5% of Board members are historically disadvantaged persons (HDPs)
Delivering on our strategy
Delivering value from our
operations and projects
SUCCESSES
Solid operational recovery in H2 2019 following strike and other operational disruptions in H1 2019
R1.2 billion of annualised synergies from the successful integration and restructuring at the Marikana operation, 64% above forecast
Zero fatalities at SA gold operations with improvements in Group safe production and +11 million fatality free shifts achieved in February 2020.
CHALLENGES
Ground conditions and diesel particulate matter issues encountered at Blitz at the US PGM operations during the year
Building up at the SA gold operations after a five-month strike, although it was successful
Empowering our workforce
SUCCESSES
13%
women employed with 8% of core mining roles held by women89%
of SA employees are recruited locallyBEE scorecard level 7
CHALLENGES
26%
absenteeism at the SA operations to be addressedBreaking down the language barriers in SA to improve the effectiveness of training and application of safety and operational standards
SUCCESSES
11 million
fatality free shifts at SA gold operations61%
decrease in section 54 stoppages at SA gold operations11%
improvement in serious injury frequency rate: improved from 3.70 in 2018 to 3.03 in 2019 for the Group
CHALLENGES
6
fatalities at the SA PGM operationsRock mass management
a proactive approach to minimise uncontrolled fall of ground incidents
SUCCESSES
21%
reduction in silicosis cases reported16%
increase in employees on medical schemes31%
decrease in the rate of noise-induced hearing loss
CHALLENGES
COVID-19
Planning for and dealing with this pandemic, considering more than 80,000 employees
SUCCESSES
Bokamoso Ba Rona
A joint development agreement was concluded to optimise the impact of this agri-industrial initiative1.6bn
social and labour plans and CSI spend74%
of procurement spend is local
CHALLENGES
Stakeholder perception index revealed historic perception of non-engagement
Sustaining
income-generating projects as businesses beyond our support
SUCCESSES
8%
less water used for the Group22%
less water purchased at our SA gold operationsTailings monitoring equipment has been installed at the US PGM operations
CHALLENGES
FIVE level 3 incidents. Although this has not increased year-on-year, we continue to work to prevent incidents
14%
increase in CO2e intensity due to inclusion of the newly-acquired Marikana operations
SUCCESSES
Safety
Enabled significant risk reduction and safety improvements through the use of data and analyticsInnovation culture
Developed an end-to-end idea and innovation management framework to enable a culture of innovationIntelligence
Delivered bottom line value through various aggregation, visualisation and intelligence platforms
CHALLENGES
Adoption
Experienced low levels of adoption for abstract or complicated technology themesMeasurement
Building up at the SA gold operations after a five-month strike, although it was successfulCapability
Identified skills and capability building requirements to enable rapid adoption of technology
SUCCESSES
90%
increase in Group PGM Mineral Resources to 389Moz20%
increase in Group PGM Mineral Reserves to 55.1Moz2.0Moz
of additional Mineral Reserves yielded from drilling at Blitz
CHALLENGES
Intricacy of integrating and re-evaluating the Marikana assets resulted in a 22.1Moz decrease in Mineral Reserves (compared to Lonmin in 2018) due to a lack of supporting feasibility studies
Complexity of extending the life of the SA gold operations beyond their original anticipated life-span, by converting Mineral Resources to Mineral Reserves through innovative infrastructure optimisation and integration option
Additional downloads
2019 suite of reports
- Integrated Report 2019 [10.9MB]
- Mineral Resources and Mineral Reserves Report 2019 [17.4MB]
- Summarised Report and Notice of Annual general Meeting 2019 [2.7MB]
- Annual Financial Report 2019 [4.8MB]
- Company Financial Statements 2019 [2.8MB]
- Form 20-F 2019 [15.5MB]
- XBRL filings 2019 [7.5MB]
Supplementary documents
- Care for iMali: Taking care of personal finance [199KB]
- Biomonitoring of rivers and biodiversity [662KB]
- Working together: Good Neighbor Agreement (GNA) [165KB]
- Generating clean energy: Beatrix methane capture and destruction project [944KB]
- Combatting illegal mining [158KB]
- Social and labour plans: Summary of projects in South Africa [173KB]
- Environmental incidents in 2019: Level 3 and higher [45KB]
- GRI Content Index 2019 [108KB]
- King IV Disclosure 2019 [110KB]
- Definitions of sustainability/ESG indicators [54KB]