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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 2017 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 2017
Cover thumbnail: Mineral resources and mineral reserves report 2017

Gold and uranium Mineral Resources and Mineral Reserves split per operation and project as at 31 December 2017

CLASSIFIED GOLD MINERAL RESOURCES AND MINERAL RESERVES STATEMENT1,9 as at 31 December
Mineral ResourcesMineral Reserves
OPERATIONS20172016OPERATIONS20172016
UndergroundTonnes
(Mt)
Grade
(g/t)
Gold
(Moz)
Gold
(Moz)
UndergroundTonnes
(Mt)
Grade
(g/t)
Gold
(Moz)
Gold
(Moz)
Beatrix         Beatrix        
Measured 25.5 6.6 5.394 5.786 Proved AI 8.9 3.3 0.933 2.048
Indicated AI 2 16.6 4.3 2.310 6.150 Probable AI 11.2 3.2 1.152 1.675
Inferred AI 0.0 3.3 0.004 0.004          
Total AI 42.1 5.7 7.708 11.940 Total AI 20.1 3.2 2.086 3.723
Indicated BI 3 3.4 5.0 0.541 0.789 Probable BI        
Beatrix – total 45.5 5.6 8.249 12.729 Beatrix – total 20.1 3.2 2.086 3.723
Driefontein         Driefontein        
Measured 20.7 12.2 8.126 7.741 Proved AI 16.8 6.7 3.602 4.420
Indicated AI 7.9 11.5 2.897 1.207 Probable AI 9.2 5.6 1.670 0.737
Inferred AI 0.0 5.9 0.005 0.181          
Total AI 28.6 12.0 11.029 9.129 Total AI 26.0 6.3 5.272 5.157
Measured 4 0.1 8.4 0.017 2.180 Proved BI 4        
Indicated BI 4 22.1 10.2 7.290 6.376 Probable BI 4 8.8 6.1 1.707 1.694
Total BI 22.2 10.2 7.308 8.556 Total BI 8.8 6.1 1.707 1.694
Driefontein – total 50.7 11.2 18.337 17.684 Driefontein – total 34.8 6.2 6.980 6.851
Kloof         Kloof        
Measured 14.4 16.2 7.538 7.928 Proved AI 13.5 8.1 3.516 4.700
Indicated AI 5.5 11.6 2.074 1.231 Probable AI 13.0 5.1 2.135 1.184
Inferred AI 0.2 12.0 0.085            
Total AI 20.2 14.9 9.697 9.159 Total AI 26.5 6.6 5.652 5.884
Measured 5 3.1 11.7 1.162            
Indicated BI 5 45.1 13.0 18.880 19.371 Probable BI 5 3.2 5.3 0.537 0.566
Inferred BI 5 2.1 14.7 0.976 3.831          
Total BI 50.2 13.0 21.018 23.202 Total BI 3.2 5.3 0.537 0.566
Kloof – total 70.4 13.6 30.715 32.361 Kloof – total 29.7 6.5 6.189 6.450
Cooke         Cooke 6        
Measured 4.0 13.1 1.689 3.113 Proved AI       0.728
Indicated AI 3.5 10.1 1.130 4.091 Probable AI       0.097
Inferred AI 3.2 12.0 1.220 2.635          
Total AI 10.7 11.8 4.039 9.839 Total AI       0.826
Inferred BI       3.998          
Cooke – total 10.7 11.8 4.039 13.837 Cooke – total       0.826
Underground – total 177.3 10.8 61.339 76.611 Underground – total 84.6 5.6 15.254 17.849
Surface rock dumps and tailings retreatment facilities   Surface rock dumps and tailings retreatment facilities
Beatrix (Indicated) 3.7 0.3 0.041 0.052 Beatrix (Probable) 3.7 0.3 0.041 0.052
Randfontein Surface         Randfontein Surface        
(Measured) 5.4 0.3 0.052 0.047 (Proved) 5.4 0.3 0.052 0.047
(Indicated) 0.4 0.6 0.007   (Probable) 0.4 0.6 0.007  
Driefontein (Indicated) 1.1 0.5 0.019 0.076 Driefontein (Probable) 1.1 0.5 0.019 0.076
Kloof (Indicated) 11.3 0.5 0.192 0.200 Kloof (Probable) 11.3 0.5 0.192 0.200
Surface – total 21.8 0.4 0.311 0.375 Surface – total 21.8 0.4 0.311 0.375
Underground and surface         Underground and surface        
Beatrix 49.2 5.2 8.291 12.781 Beatrix 23.9 2.8 2.127 3.775
Driefontein 51.8 11.0 18.355 17.760 Driefontein 35.9 6.1 6.998 6.926
Kloof 81.7 11.8 30.907 32.561 Kloof 41.0 4.8 6.381 6.650
Cooke 16.4 7.8 4.097 13.883 Cooke 5.7 0.3 0.059 0.872
Total 199.1 9.6 61.651 76.985 Total 106.4 4.5 15.565 18.224
PROJECTS         PROJECTS        
Underground         Underground        
Burnstone 7         Burnstone        
Measured 2.2 5.0 0.351   Proved 0.5 3.7 0.058  
Indicated 62.4 4.3 8.664 4.350 Probable 14.3 4.1 1.876 2.137
Inferred       4.540          
Burnstone – total 64.6 4.3 9.015 8.890 Burnstone – total 14.8 4.1 1.934 2.137
Beisa North         Beisa North        
Inferred       1.619          
Beisa North – total       1.619 Beisa North – total        
Bloemhoek*         Bloemhoek*        
Indicated 27.4 4.7 4.163 4.163          
Inferred 0.9 4.9 0.135 0.135          
Bloemhoek – total 28.3 4.7 4.297 4.297 Bloemhoek – total        
De Bron Merriespruit*         De Bron Merriespruit*        
Indicated 23.0 4.5 3.307 3.307 Probable 15.4 4.3 2.112 2.112
Inferred 5.3 4.2 0.715 0.715          
De Bron Merriespruit – total 28.3 4.4 4.022 4.022 De Bron Merriespruit – total 15.4 4.3 2.112 2.112
Underground – total 121.2 4.4 17.335 18.828 Underground – total 30.2 4.2 4.045 4.248
WRTRP8         WRTRP8        
Measured 618.5 0.3 5.602 5.697          
Indicated 52.3 0.3 0.524 0.524 Probable 670.8 0.3 6.126 6.222
WRTRP – total 670.8 0.3 6.126 6.222 WRTRP – total 670.8 0.3 6.126 6.222
Projects – total 792.0 0.9 23.460 25.050 Projects – total 701.0 0.5 10.171 10.470
Grand total – underground and surface 991.2 2.7 85.111 102.035 Grand total – underground and surface 807.4 1.0 25.737 28.694
  • 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 Managed, unless otherwise stated
  • 2 Beatrix Indicated Mineral Resources AI and Probable Mineral Reserves includes Beisa Central
  • 3 Beatrix Indicated Mineral Resources BI refers to material below 26 Level (1,341mbs)
  • 4 Cooke Inferred Mineral Resources BI refers to material within Cooke 4 Shaft Prospecting Right (Zuurbekom)
  • 5 Driefontein Indicated and Inferred Mineral Resources and Probable Mineral Reserves BI refers to material below 50 Level (3,300mbs)
  • 6 Kloof Indicated and Inferred Mineral Resources and Probable Mineral Reserves BI refers to material below 45 Level (3,347mbs)
  • * SOFS Projects
Classified uranium Mineral Resources and Mineral Reserves statement 1,3 as at 31 December
Mineral ResourcesMineral Reserves
OPERATIONS20172016OPERATIONS20172016
 Tonnes
(Mt)
Grade
(g/t)
U3O8
(Mlb)
U3O8
(Mlb)
 Tonnes
(Mt)
Grade
(g/t)
U3O8
(Mlb)
U3O8
(Mlb)
Beatrix2         Beatrix        
Measured AI 3.6 1.086 8.5 8.5 Proved AI        
Indicated AI 7.8 1.069 18.3 18.3 Probable AI       16.1
Inferred AI 0.0 1.101 0.1 0.1          
Beatrix – total 11.4 1.074 27.0 27.0 Beatrix – total       16.1
Operations – total 11.4 1.074 27.0 27.0 Operations – total       16.1
PROJECTS         PROJECTS        
Beisa North         Beisa North        
Inferred       35.4          
Beisa North – total       35.4 Beisa North – total        
WRTRP 4         WRTRP 4        
Measured 618.5 0.063 86.1 87.2 Proved        
Indicated 52.3 0.086 9.9 9.9 Probable 670.8 0.065 96.1 97.2
WRTRP – total 670.8 0.065 96.1 97.2 WRTRP – total 670.8 0.065 96.1 97.2
Projects – total 670.8 0.065 96.1 132.5 Projects – total 670.8 0.065 96.1 97.2
Grand total – operations and projects 682.2 0.082 123.1 159.5 Grand total – operations and projects 670.8 0.065 96.1 113.2
  1. For uranium Mineral Reserves, a long-term contract price of R1,208/kg was used
  2. 1 Managed, unless otherwise stated
  3. 2 Beatrix includes uranium Mineral Resources from the Beisa Central project
  4. 3 2017 Mineral Resource depletion includes the actuals up until October 2017 and the remaining depletions were estimates for November – December 2017
  5. 4 Includes the assets which are included with the potential deal with DRDGOLD (44.4Mlb)