Former Lonmin mines will again be solid assets in hands of Sibanye-Stillwater
Sibanye has the capital to spend on development and maintenance at platinum group metal mines
The Marikana mines in Sibanye-Stillwater are flourishing, something they did not do in the hands of Lonmin in the past few years.
The Marikana mines, the concentrating and refining complex and other assets were bought for just R4.3bn in equity when Sibanye took over Lonmin, which was for years the world’s third-largest platinum miner. The mines now account for nearly half of the earnings generated from the company’s SA platinum group metals (PGM) mines.