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Business model

This page is under review. For the latest information, please refer to our Integrated Annual Report 2018, released on 29 March 2019.

Sibanye-Stillwater has a portfolio of gold and PGM assets that will enable it to sustainably conduct its business as a precious metals miner for many years. We conduct our business in a world in which various external factors have an impact, whether positive or negative, on the viability of our business.

Managing these factors and their related risks is vital to our business continuity. In addition, our mining activities have an impact on: the environment, people, employees and local communities, and broader society.

For details on the capital resources used, the outcomes and the impacts, see the Creating value section of the Integrated Annual Report 2017

We build and maintain relationships with stakeholders to minimise and manage our risk. Our CARES values, governance framework and code of ethics, which speak to our role as a responsible corporate citizen, underpin all that we do.


To ensure sustainable value creation, Sibanye-Stillwater has established a unique, global, diversified and long-life portfolio of precious metal assets.

Sibanye-Stillwater is:

  • a top three global producer of platinum and palladium
  • the largest primary producer of palladium globally
  • a leading recycler of PGMs globally
  • the largest gold producer in South Africa


  • Mining underground and surface resources
  • Processing and refining ore mined
  • PGM recycling
  • Sale of end products
  • Acquiring new, value-accretive assets
  • Supported by:
    • Community and social development initiatives
    • Environmental management and land rehabilitation


  • Identifying value-accretive acquisition opportunities that are innovatively financed to optimise value for stakeholders
  • Focusing on safety, productivity, cost discipline and optimising operating capital so as to contribute to positive cash flows and, ultimately, to value creation
  • Investing in value-accretive organic growth projects to extend operating lives and optimise return on capital


  • Robust processes and systems are in place to identify and manage those factors likely to have a significant impact on our ability to create value
  • These systems and processes are supported by internal controls that ensure our response to mitigate any impact is effective and timely
  • Our top material risks have been identified, together with corresponding opportunities, see the Managing our material risks section of our Integrated Annual Report 2017


  • Stakeholder engagement is critical both to the stability and sustainability of our business
  • Developing and maintaining constructive, positive relationships with stakeholders helps to ensure we maintain our social licence to operate


Our strong, principled governance framework, underpinned by our values, is aimed at ensuring:

  • the long-term viability of our business to sustain value creation
  • that we conduct our business ethically for the benefit of all stakeholders (see Corporate governance)