Rustenburg, South Africa - 2024/03/22: Production at Sibanye-Stillwater's Siphumelele shaft has been suspended following a critical equipment failure on February 29th. Thankfully, no injuries were reported in the incident.
The culprit? A malfunctioning ore collector bin attached to the shaft headgear. The bin detached and plunged to the ground, damaging the surface conveyor belt system in the process. This domino effect has forced a halt to operations at Siphumelele.
Sibanye-Stillwater is currently investigating the cause of the incident and assessing the impact on the shaft's annual production. Stakeholders, including the Department of Mineral Resources and Energy and union representatives, have been notified.
What This Means for Platinum Production
Siphumelele, a key contributor to Sibanye-Stillwater's South African platinum group metals (PGM) output, was expected to produce an average of 4,500 ounces of platinum, palladium, rhodium, and gold (4E) per month in 2024. This translates to roughly 3.5% of the company's annual PGM production, excluding contributions from third-party processors.
The suspension of production at Siphumelele could potentially disrupt Sibanye-Stillwater's PGM output for the year. We'll continue to monitor the situation and provide updates as they become available.
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