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  • Last updated

    6:59pm on Jun 17, 2021

The US operations are supported by a pipeline of exploration stage projects, distributed throughout the Americas, including the Altar, Marathon, Rio Grande and Denison projects. Sibanye-Stillwater advances these exploration assets through strategic relationships with focused exploration companies.

In 2020, total 2E PGM Mineral Resources decreased by 46% to 1.7Moz, principally as a result of the revised attributable interest in the Marathon project (-1.7Moz), and offset partly by an increase in attributable Mineral Resources at the Denison project (+0.1Moz) due to an updated Mineral Resource estimate, incorporating additional mineralised zones.

  • Altar

    The Altar project is an advanced stage porphyry copper-gold exploration project located within the San Juan province, Argentina, approximately 10km from the Argentina/Chile border and 180km west of the city of San Juan. The project consists of eight wholly-owned and five optioned mining concessions which require additional drilling success and studies to allow a transition to feasibility stage.

    Sibanye-Stillwater has a 40% stake in the Altar project with the remaining 60% held by Aldebaran Resources Inc (Aldebaran), a subsidiary of Regulus Resources Ltd. Aldebaran Resources Inc (Aldebaran) has entered into a joint venture and option agreement to acquire up to an 80% interest in Peregrine Metals Ltd (Peregrine), a wholly-owned subsidiary of Sibanye-Stillwater, which owns the Altar copper-gold project. Aldebaran is the operator of the joint venture.

    As at 31 December 2020, Altar contained 2,614 million tonnes of declared attributable Mineral Resources at 0.3% copper and 0.1 g/t gold (17.9 billion pounds of copper and 6.3 million ounces of gold).

      2020
    Gold mineral resources Tonnes (Mt) Grade (g/t) Gold (Moz)
    Measured 1,005.9 0.09 2.981
    Indicated 1,051.5 0.07 2.253
    Inferred 556.5 0.06 1.087
    Total 2,613.9 0.08 6.321
      2020
    Copper mineral resources Tonnes (Mt) Grade (%) Copper (Mlb)
    Measured 1,005.9 0.34 7,458.0
    Indicated 1,051.5 0.30 7,053.0
    Inferred 556.5 0.28 3,420.0
    Total 2,613.9 0.31 17,931.0
  • Rio Grande

    The Rio Grande exploration stage project is a copper-gold porphyry deposit with an associated iron oxide copper-gold (IOCG) style alteration, located in the Salta Province of north-western Argentina. The project consists of one contiguous block comprising nine mining concessions, totalling 180 claims covering an area of approximately 16,953 hectares.

    Sibanye-Stillwater holds a 19.9% interest in the project through its shareholding in Aldebaran Resources.

    As at 31 December 2020, Rio Grande contained 22.3 million tonnes of declared attributable Mineral Resources at 0.3% copper and 0.3 g/t gold (134.7 million pounds of copper and 0.236 million ounces of gold).

      2020
    Gold mineral resources Tonnes (Mt) Grade (g/t) Gold (Moz)
    Indicated 14.1 0.36 0.162
    Inferred 8.2 0.28 0.074
    Total 22.3 0.33 0.236

    </tr >

      2019
    Copper mineral resources Tonnes (Mt) Grade (%) Copper (Mlb)
    Indicated 14.1 0.30 93.2
    Inferred 8.2 0.23 41.5
    Total 22.3 0.27 134.7
  • Marathon

    The Marathon project is a PGM-gold copper project, situated 10km north of Marathon, Ontario province, Canada. The project is managed by our joint venture partner, Generation Mining Limited (Gen Mining), which has also assumed all liabilities for the property.

    Sibanye-Stillwater concluded an acquisition agreement with Generation Mining Limited (Gen Mining) in 2019 through which Gen Mining acquired a 51% interest in the Marathon project and formed an unincorporated joint venture with Stillwater Canada Inc, in exchange for a cash consideration of CAD$3 million and a 12.9% equity interest in Gen Mining. Gen Mining has the option to earn up to an 80% interest through spending of CAD$10 million and preparing a preliminary economic assessment within four years of the property acquisition date, marked as 11 July 2019.

    In 2020, Gen Mining increased its stake, reducing Sibanye-Stillwater’s effective interest to 26%. This includes the direct interest of 19.3% in the project and indirect interest through the Group’s investment in Gen Mining.

    As at 31 December 2020, Marathon had 65.9 million tonnes of 2E PGM declared attributable Mineral Resources at 0.2% copper and 2E+Au PGM grade of 0.7g/t (307.8 million pounds copper and 1.4 million ounces 2PGM+Au).

      2020 2019
    PGM mineral resources Tonnes (Mt) Grade (g/t) 2E PGM (Moz) 2E PGM(Moz)
    Total 65.9 0.7 1.4 3.1

      2020 2019
    Copper mineral resources Tonnes (Mt) Grade (%) Copper (Mlb) Copper (Mlb)
    Total 65.9 0.2 307.8 645.8

    26.49% Attributable, non-managed, based on a 20% direct and a 8,11% indirect interest.

     

  • Denison

    The Denison project is a PGM exploration project on the Sudbury Igneous Complex (SC), approximately 30km to the southwest of the town of Sudbury, Canada. The project includes two zones adjacent to the old workings of the Crean Hill mine (the 109FW and 9400 zones).

    Sibanye-Stillwater owns a 64.9% stake in the Denison project, which was acquired as part of the Lonmic transaction in June 2019. During 2019, a binding letter agreement with Wallbridge Mining was executed whereby Wallbridge was appointed as the operator of the revised Denison property with responsibilities including the raising of necessary funding, implementation of the business plan and management of the daily operations of Loncan.

    As at 31 December 2020, Denison contains 2.5 million tonnes of 2E PGM declared attributable Mineral Resources at 1.2% copper and 0.5 g/t gold (66 million pounds of copper and 0.036 million ounces of gold).

      2020 2019
    2E PGM mineral resources Tonnes (Mt) Grade (g/t) 2E PGM (Moz) 2E PGM (Moz)
    Total 2.5 2.9 0.2 0.05
      2020 2019
    Gold mineral resources Tonnes (Mt) Grade (g/t) Gold (Moz) Gold (Moz)
    Total 2.5 0.5 0.04 0.01
      2020 2019
    Copper mineral resources Tonnes (Mt) Grade (g/t) Copper (Mlb) Copper (Mlb)
    Total 2.5 1.2 66.0  

Reference

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