Highlights as at December 31, 2019
- 90% increase in the total Platinum Group Metals (PGM) Mineral Resources to 389.0Moz and a 20% increase in the Group’s PGM Mineral Reserves to 55.1Moz, primarily due to the inclusion of the Marikana (previously Lonmin) assets, acquired in June 2019
- Ongoing successful definition drilling at the Blitz project, Stillwater Mine, at the United States (US) PGM operations yielded 2.0Moz of additional Mineral Reserves
- Gold Mineral Resources at the South African (SA) gold operations increased by 52% primarily due to a reduction in costs associated with the Kloof integration project, facilitating a decrease in cut-off grades
- Exploration projects’ advanced through the establishment of key partnerships including Aldebaran Resources Inc, Generation Mining Ltd and Wallbridge Ltd
| Factors | 4E PGM (Moz) |
|---|---|
| 31 December 2018 (excl. Marikana) | 20.4 |
| Depletion | (1.6) |
| Geological interpretation 1 | 0.01 |
| Economic parameters | 0.02 |
| Modifying factors 1 | 0.1 |
| 31 December 2019 (excl. Marikana) | 19.0 |
| Marikana (30 September 2018) | 31.2 |
| Attributable adjustment to 95.25%6 | 4.9 |
| Depletion | (1.2) |
| Area inclusions/exclusions 2,3 | (23.2) |
| Geological interpretation 4 | (1.1) |
| Economic parameters 5 | (1.5) |
| Modifying factors | (0.05) |
| Marikana (31 December 2019) | 9.2 |
| Total (31 December 2019) | 28.2 |
- Updates in geological interpretations and modifying factors
- Removal of Mineral Reserves from projects and operations placed on Care and Maintenance and below infrastructure
- Benefit associated with synergies realised between shaft boundaries
- Increases in geological loss with latest interpretation
- Removal of sub-economic Mineral Reserves at the end of LoM due to tail cutting
- Mineral Reserves declared at 95.25% attributable in line with Group methodology
| Factors | 4E PGM (Moz) |
|---|---|
| 31 December 2018 | 25.6 |
| Depletion during 2017 | (0.7) |
| Area inclusions/exclusions1 | 1.7 |
| Geological interpretation | 0.3 |
| 31 December 2019 | 26.9 |
- Expansion in the Blitz project area
| Factors | Gold (Moz) |
| 31 December 2018 | 12.1 |
| Depletion | (0.8) |
| Area inclusions/exclusions1 | 0.3 |
| Geological interpretation2 | (0.2) |
| Estimation methodology3 | (0.3) |
| Economic parameters4 | (0.2) |
| Modifying factors5 | 0.1 |
| 31 December 2019 | 10.9 |
- Beatrix 4 Shaft LoM extended, Driefontein 1 Shaft inclusions, Kloof 4 Shaft exclusions, DRDGOLD changes
- Kloof 8 Shaft sub-crop position changed, Driefontein 5 Shaft structural complexities in Overbank Area
- Driefontein CLR changes in Overbank Area, Kloof VCR changes in 4 Shaft
- Surface unpay exclusions, Driefontein 5 Shaft unpay exclusions
- Improvement in the MCF at Driefontein and Kloof
![Mineral Resources and Reserves Report 2019 [Cover artwork]](https://www.sibanyestillwater.com/wp-content/uploads/2020/04/explore-rr19-420-1.png)