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| Sibanye-Stillwater Mt Lyell and Burnstone project |
Sibanye-Stillwater Copper and Gold Projects Advance Organic Portfolio Growth
Sibanye-Stillwater approves the Mt Lyell copper-gold project and Burnstone gold project to expand production. Stronger commodity pricing significantly boosted the company's balance sheet during the first half of 2026. The miner allocated initial capital expenditure to move both asset developments toward first ore in 2029.
The company plans to spend $340 million restarting the historic Mt Lyell copper mine in Tasmania. Mt Lyell will produce 26,000 tonnes of copper annually over a 23-year mine life. Meanwhile, the Burnstone project in South Africa will deliver 130,000 ounces of gold per year. Therefore, these strategic investments diversify the corporate portfolio beyond traditional platinum group metals.
Financial performance strengthened as higher precious metals prices tripled first-half earnings for the group. Average realized PGM prices increased up to 70 percent across key operating regions. In addition, gold pricing realized a 35 percent gain over the same period. Consequently, robust internal cash flows allow the business to fund long-term development projects efficiently.
ScrapInsight Commentary
Sibanye-Stillwater’s capital commitment to copper and gold assets underlines the growing necessity for long-life primary metal sources. Nevertheless, tight copper supply and high extraction costs reinforce the critical economic role of copper scrap recycling. Secondary copper units will remain essential to meet global demand alongside new mining developments.
