Sibanye Stillwater Ltd. may wind down its three South African gold mines in the next decade or so as it becomes harder to exploit aging assets in an industry that was once the world’s largest.
Sibanye
Sibanye Biggest Gold Miner Says Laws Not Acceptable
Gold Silver Reports — Sibanye Gold Ltd., the biggest producer of the metal from South African mines, criticized the country’s planned Mining Charter, saying some aspects of the legislation are “not acceptable” in their current form.
The government published draft proposals on Friday stating that mines must be at least 26 percent-owned by black investors, even if those stakes are subsequently sold. Mining executives including Sibanye Chief Executive Officer Neal Froneman have argued this will lead to existing investors’ stakes being continually diluted.
Sibanye Appointed Heads for Gold, Platinum and Coal
Gold Silver Reports — Sibanye Gold Ltd. appointed heads for its platinum, gold and coal businesses as the South African company restructures after expanding into these commodities through acquisitions.
Wayne Robinson has been named chief executive officer of the gold and uranium unit, while Jean Nel was appointed CEO of platinum, Sibanye said in a statement Monday.