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Resources and Reserves

Sibanye-Stillwater’s Mineral Resources and Mineral Reserves are reported in accordance with the SAMREC Code, and are considered to be fully compliant in all material respects with the requirements of the code.

The Mineral Resources and Mineral Reserves Report 2016 contains a comprehensive review of the Mineral Resources and Mineral Reserves as at 31 December 2016, and details the location, geology, mining, processing, operational statistics and changes at each of Sibanye-Stillwater’s mining operations and projects.

Mineral Resources and Mineral Reserves Report 2016
Cover thumbnail: Mineral resources and mineral reserves report 2016
Gold: Mineral Resources
Beatrix 12.8Moz Cooke 13.9Moz Driefontein 17.8Moz Kloof 32.6Moz WRTRP 6.2Moz Projects 18.8Moz 13% 14% 17% 6% 18% 32% 102Moz
Gold: Mineral Reserves
Beatrix Cooke Driefontein Kloof WRTRP Projects 3.8Moz 0.9Moz 6.9Moz 6.7Moz 6.2Moz 4.2Moz 13% 24% 23% 22% 15% 3% 28.7Moz
Uranium: Mineral Resources
Beatrix WRTRP Projects 27.0Mlb 97.2Mlb 35.4Mlb 17% 61% 22% 159.5Mlb
Uranium: Mineral Reserves
Beatrix 16.1Mlb WRTRP 97.2Mlb 14% 86% 113.2Mlb
CLASSIFIED GOLD MINERAL RESOURCES AND MINERAL RESERVES STATEMENT1
Mineral ResourcesMineral Reserves
 31 Dec 201631 Dec 2015 31 Dec 201631 Dec 2015
Gold classification per operation/projectTonnes
(Mt)
Grade
(g/t)
Gold
(Moz)
Gold
(Moz)
Gold classification per operation/projectTonnes
(Mt)
Grade
(g/t)
Gold
(Moz)
Gold
(Moz)
OPERATIONS
 
OPERATIONS
 
BEATRIX
 
BEATRIX
 
Measured AI 34.3 5.3 5.786 4.857 Proved AI 15.8 4.0 2.048 2.389
Indicated AI2 35.0 5.5 6.150 3.677 Probable AI2 20.2 2.6 1.675 1.875
Inferred AI 0.0 3.3 0.004 0.004    
Total AI 69.4 5.4 11.940 8.538 Total AI 36.0 3.2 3.723 4.264
Indicated BI3 6.7 3.7 0.789 0.991    
Beatrix – total underground 76.1 5.2 12.729 9.530 Beatrix – total underground 36.0 3.2 3.723 4.264
COOKE
 
COOKE
 
Measured AI 11.6 8.3 3.113 1.566 Proved AI 4.3 5.3 0.728 1.014
Indicated AI 15.8 8.1 4.091 7.969 Probable AI 0.6 4.8 0.097 0.457
Inferred AI 6.0 13.6 2.635 2.326    
Total AI 33.5 9.1 9.839 11.862 Total AI 4.9 5.2 0.826 1.471
Inferred BI4 40.7 3.1 3.998 3.998    
Cooke – total underground 74.2 5.8 13.837 15.860 Cooke – total underground 4.9 5.2 0.826 1.471
DRIEFONTEIN
 
DRIEFONTEIN
 
Measured AI 20.7 11.6 7.741 6.503 Proved AI 20.7 6.6 4.420 5.980
Indicated AI 5.2 7.2 1.2073 3.053 Probable AI 5.8 4.0 0.737 2.122
Inferred AI 0.4 13.8 0.181 0.314    
Total AI 26.3 10.8 9.129 9.870 Total AI 26.5 6.1 5.157 2.122
Measured BI 8.5 8.0 2.180   Probable BI5 8.8 6.0 1.694 1.126
Indicated BI5 22.0 9.0 6.376 9.821    
Total BI 30.4 8.7 8.556 9.821 Total BI 8.8 6.0 1.694 1.126
Driefontein – total underground 56.7 9.7 17.684 19.691 Driefontein – total underground 35.3 6.0 6.851 8.102
KLOOF
 
KLOOF
 
Measured AI 14.4 17.1 7.928 6.196 Proved AI 18.4 7.9 4.700 4.857
Indicated AI 3.2 11.8 1.231 0.468 Probable AI 6.2 5.9 1.184 1.024
Total AI 17.6 16.1 9.159 6.664 Total AI 24.6 7.4 5.884 5.881
Indicated BI6 44.9 13.4 19.371 11.246 Indicated BI6 2.5 7.2 0.566 0.502
Indicated BI6 7.4 16.2 3.831 10.112    
Total BI 52.2 13.8 23.202 21.359 Total BI 2.5 7.2 0.566 0.502
Kloof – total underground 69.9 14.4 32.361 28.023 Kloof – total underground 27.1 7.4 6.450 6.383
Operations – total underground 276.8 8.6 76.611 73.103 Operations – total underground 103.2 5.4 17.849 20.219
Surface Rock Dumps (SRD) and Tailings Storage Facilities (TSF)
Surface Rock Dumps (SRD) and Tailings Storage Facilities (TSF)
Beatrix (Indicated) 4.5 0.4 0.052 0.062 Beatrix (Probable) 4.5 0.4 0.052 0.062
Randfontein surface (Measured) 4.5 0.3 0.047 0.052 Randfontein surface (Proved) 4.5 0.3 0.047 0.052
Driefontein (Indicated) 4.0 0.6 0.076 0.094 Driefontein (Probable) 4.0 0.6 0.076 0.094
Kloof (Indicated) 11.9 0.5 0.200 0.163 Kloof (Probable) 11.9 0.5 0.200 0.163
Operations – total surface (SRD and TSF) 24.1 0.5 0.372 0.372 Operations – total surface (SRD and TSF) 24.8 0.5 0.375 0.372
Total operations (incl. SRD and TSF – excl. Projects)
Total operations (incl. SRD and TSF – excl. Projects)
Beatrix 80.6 4.9 12.781 9.592 Beatrix 40.5 2.9 3.775 4.326
Cooke 78.6 5.5 13.883 15.911 Cooke 9.4 2.9 0.872 1.523
Driefontein 60.7 9.1 17.760 19.786 Driefontein 39.2 5.5 6.926 8.196
Kloof 81.8 12.4 32.561 28.186 Kloof 39.0 5.3 6.650 6.546
Operations – total (incl. SRD and TSF) 301.7 7.9 76.985 73.475 Operations – total (incl. SRD and TSF) 128.1 4.4 18.2241 20.591
PROJECTS
 
PROJECTS
 
BURNSTONE
       
BURNSTONE
       
Indicated 25.4 5.3 4.350 4.350 Probable 17.5 3.8 2.137 1.799
Inferred 28.7 4.9 4.540 4.540          
Burnstone –
total underground
54.1 5.1 8.890 8.890 Burnstone North – total underground 17.5 3.8 2,137 1.799
BLOEMHOEK
       
BLOEMHOEK *
       
Indicated 27.4 4.7 4.163 4.163          
Inferred 0.9 4.9 0.135 0.135          
Bloemhoek – total underground 28.3 4.7 4.297 4.297 Bloemhoek – total underground        
DE BRON MERRIESPRUIT *
       
DE BRON MERRIESPRUIT
       
Indicated 23.0 4.5 3.307 3.307 Probable 15.4 4.3 2.112 2.088
Inferred 5.3 4.2 0.715 0.715          
De Bron Merriespruit – total underground 28.3 4.4 4.022 4.022 De Bron Merriespruit – total underground 15.4 4.3 2.112 2.088
BEISA NORTH *        
BEISA NORTH
       
Inferred 14.8 3.4 1.619 1.619 BEISA NORTH        
Beisa North – total underground 14.8 3.4 1.619 1.619 Beisa North –
total underground
       
Projects – total underground 125.5 4.7 18.828 18.828 Projects –
total underground
32.9 4.0 4.248 3.911
WRTRP
       
WRTRP
       
Measured 625.0 0.3 5.697 5.962 Proved        
Indicated 52.3 0.3 0.524 5.962 Probable 677.3 0.3 6.222 6.486
Projects – total surface 677.3 0.3 6.222 6.486 Projects – total surface 677.3 0.3 6.222 6.486
Projects – total 802.8 1.0 25.050 25.314 Projects – total 710.2 0.5 10.470 10.397
Grand total – underground
and surface
1104.5 2.9 102.035 98.790 Grand total – underground
and surface
838.2 1.1 28.694 30.988
  • Mineral Resources are inclusive of Mineral Reservese
  • All tonnes (t) are expressed as metric units
  • Cut-off grades have been calculated in accordance with SEC Guidelines for mineral pricing and approximate the historic three-year average commodity prices
  • Mineral Resources were declared at a premium of 10% over the Mineral Reserve metal price
  • Gold Mineral Resources were determined at R540,000/kg and the Gold Mineral Reserves at R490,000/kg
  1. 1 Managed, unless otherwise stated
  2. 2 Beatrix Indicated Mineral Resources AI and Probable Mineral Reserves includes Beisa Central
  3. 3 Beatrix Indicated Mineral Resources BI refers to material below 26 Level (1,341mbs)
  4. 4 Cooke Inferred Mineral Resources BI refers to material within Cooke 4 Shaft Prospecting Right (Zuurbekom)
  5. 5 Driefontein Indicated and Inferred Mineral Resources and Probable Mineral Reserves BI refers to material below 50 Level (3,300mbs)
  6. 6 Kloof Indicated and Inferred Mineral Resources and Probable Mineral Reserves BI refers to material below 45 Level (3,347mbs)
  7. * SOFS Projects
CLASSIFIED URANIUM MINERAL RESOURCES AND MINERAL RESERVES STATEMENT1
Mineral ResourcesMineral Reserves
 31 Dec 201631 Dec 2015 31 Dec 201631 Dec 2015
Uranium classification per operation/projectTons
(Mt)
Grade
(g/t)
U3O8
(Moz)
U3O8 (Moz)Uranium classification per operation/projectTons
(Mt)
Grade
(g/t)
U3O8
(Moz)
U3O8
(Moz)
OPERATIONS
 
OPERATIONS
 
BEATRIX2
 
BEATRIX2
 
Measured AI 3.6 1.086 8.548 8.548 Proved AI        
Indicated AI 7.8 1.069 18.330 18.330 Probable AI 10.2 0.711 16.060 11.654
Inferred AI 0.0 1.101 0.090 0.090          
Beatrix (Beisa) – total underground 11.4 1.074 26.968 26.968 Beatrix (Beisa) – total underground 10.2 0.711 16.060 11.654
COOKE
       
COOKE
       
Measured AI       4.873 Proved AI       2.056
Indicated AI       11.546 Probable AI       1.017
Inferred AI       8.020          
Total AI       224.439 Total AI       3.073
Indicated BI3       43.984          
Cooke – total underground       68.423 Cooke – total underground       3.073
Operations – total underground 11.4 1.074 26.968 95.391 Operations – total underground 10.2 0.711 16.060 14.727
PROJECTS
       
PROJECTS
       
BEISA NORTH
       
BEISA NORTH
       
Inferred 14.8 1.084 35.373 35.373          
Beisa North – total underground 14.8 1.084 35.373 35.373 Beisa North – total underground        
Projects – total underground 14.8 1.084 35.373 35.373 Projects – total underground        
WRTRP
       
WRTRP
       
Measured 625.0 0.063 87.230 89.151          
Indicated 52.3 0.086 9.936 9.936 Probable 677.3 0.065 97.166 99.088
Projects – total surface 677.3 0.064 97.166 99.088 Projects – total surface 677.3 0.065 97.166 99.088
Projects – total 692.1 0.085 132.539 134.461 Projects – total underground
and surface
677.3 0.065 97.166 99.088
Grand total – underground and surface 703.5 0.103 159.5072 229.852 Grand total – underground and surface 687.5 0.075 113.226 113.814
  • Mineral Resources are inclusive of Mineral Reserves
  • For uranium Mineral Reserves, a long-term contract price of R1,140/kg was used.
  1. 1 Managed, unless otherwise stated
  2. 2 Beatrix includes uranium Mineral Resources and Mineral Reserves from the Beisa complex
  3. 3 Cooke Inferred Mineral Resources BI refers to material within the Cooke 4 Shaft prospecting right (Zuurbekom)

COMPETENT PERSONS AND DECLARATION CONSENT

The Competent Persons, designated in terms of SAMREC, who take responsibility for the reporting of Mineral Resources and Mineral Reserves, are the respective operation (per mining unit) and project based Mineral Resource Manager or Manager Geology. The Competent Persons have sufficient experience relative to the type and style of mineral deposit under consideration and are full-time employees of Sibanye. Competent Persons consent and confirmation signatures are presented in each individual Competent Person’s report per operation and project, which can be viewed on request.

Corporate governance on the overall compliance of the company’s figures and responsibility for the generation of a Group consolidated statement has been overseen by the Technical Services team. This team, whose members consent to the disclosure of the 2016 Mineral Resource and Mineral Reserve Statement, are permanent employees of Sibanye, and function independently of the operating mines and projects.

Competent PersonTitleQualificationsYears
Gerhard Janse van Vuuren
SAIMM 706705
VP Mine Technical Services BTech (Mineral Resource Management); GDE (Mining Engineering); MBA; MSCC 29
Johan van Eeden
SACNASP 400043/09
Manager Geology MSc (Geology) 33
Leon Tolmay
SAIMM 704140
Manager Evaluation NHD (Mine Survey); GDE (Mining Engineering); MSCC 40
Steven Wild
SAIMM 706556
Manager Mine Planning GDE (Mining Engineering); NHD MRM 21
Werner de Klerk
IMSSA 2242
Manager Survey GDE (Mining Engineering); MSCC; ND Survey 34
Chris Opperman
SAIMM 706906
Mineral Resource Manager ND Mine Survey; LDP; MAP 35
Gerhard Becker
ECSA H875564
Mineral Resource Manager BEng; Mining Engineering; MMCC 34
Stephan Stander
SACNASP 400089/96
Mineral Resource Manager BSc Hons Geology; GDE Mining; BCom; MBL; DPL PM 14
Charl Labuschagne
SACNASP 400237/08
Mineral Resource Manager GDE (Mining Engineering); BSc (Hons) (Geology); MSc ENV Management 19
Masigan Tandree
SAIMM 706330
Mineral Resource Manager ND Mine Survey; MSCC GDE (Mining) 19
Manie Keyser
SACNASP 400284/06
Mineral Resource Manager MEng (Mining Engineering); GDE; NHD MRM; ND Survey 23
Lance Madondo
SACNASP 200016/09
Mineral Resource Manager BSc Geology 12
Stephanus Louw
SAIMM 707018
Mineral Resource Manager MMCC 35
Hansie Engelbrecht
SAIMM 706905
Mineral Resource Manager GDE (Mining Engineering); NHD Mine Survey; MCSS 34
Shadrack Dekeda
SAIMM 703902
Mineral Resource Manager BTech MRM;MSCC 15
Iain Davidson
SAIMM 706805
Mineral Resource Manager BSc (Hons) (Geology) 34
Quartus Meyer
SACNASP 4006388
Project Geologist MSc Geology; Pr.Sci.Nat 31