Sibanye-Stillwater
Sibanye-Stillwater is a South African gold and platinum group metals (PGM) mining company, one of the world’s largest primary producers of platinum, palladium, and rhodium. It was created in 2012 when Gold Fields Limited unbundled its subsidiary GFI Mining South Africa (renamed Sibanye Gold). Through subsequent acquisitions — including Anglo American Platinum’s Rustenburg operations, Aquarius Platinum, and US palladium producer Stillwater — it became a global mining heavyweight. In June 2019 it acquired Lonmin, inheriting the Marikana mine, its operations, and the legal and moral legacy of the Marikana Massacre.
Lonmin acquisition: An all-share offer was recommended in December 2017, valued at approximately £285m / $382m. A Nedbank analyst described the deal as “a bailout deal for Lonmin.” The Competition Tribunal approved the acquisition with conditions in February 2019; Lonmin was delisted from the LSE when the deal completed in June 2019. Lonmin shareholders received one new Sibanye-Stillwater share per Lonmin share.
Marikana legacy: Sibanye-Stillwater formally acknowledges “the tragic events in 2012 which culminated in the Marikana Massacre, where 34 striking Lonmin mineworkers were killed by members of the South African Police Service on 16 August 2012.” The company launched a “Marikana Renewal” process — a commitment to reparations and acknowledgement of the massacre’s legacy. As at December 31, 2024, Marikana held 4E PGM Mineral Reserves of 16.1Moz and Mineral Resources of 111.6Moz.
Compensation claims (2022): In a 2022 Johannesburg High Court pre-hearing for compensation claims brought against Sibanye-Stillwater (as Lonmin’s legal successor) and against President Cyril Ramaphosa, a judge acknowledged that Ramaphosa “was the mastermind of a toxic collusion between Lonmin and SAPS, and that caused the arrests and murders.” Attorney Andries Nkome called this “the first time an official institution has acknowledged this” — going substantially further than the Farlam Commission’s exoneration of Ramaphosa.
Connections
- Lonmin — acquired June 2019; successor to all Lonmin liabilities including Marikana
- Marikana Massacre — inherited the legal and reputational consequences as Lonmin’s successor
- Cyril Ramaphosa — named co-respondent in 2022 compensation claims; JHC acknowledged “mastermind” characterisation
- Farlam Commission — commission that largely exonerated Ramaphosa; 2022 JHC findings went further