Sibanye puts R6.8bn in new projects

Sibanye-Stillwater has announced it will be investing in three new projects worth close to R7-billion. Courtesy #DStv403

JOHANNESBURG - Sibanye-Stillwater has announced it will be investing in three new projects worth close to R7-billion.

CEO Neal Froneman has previously said that he sees no reason to invest and expand in SA given its policy uncertainty and erratic power supply.

READ: COVID-19 vaccine: Sibanye-Stillwater to contribute R200m

On Thursday, he announced the company is set to create 7,000 jobs.

The projects include finishing the K4 mine it bought from Lonmin and re-equipping the Burnstone gold mine in Mpumalanga.

Froneman says these high-yielding projects are examples of what can be produced on a larger scale if the power supply and investor rights are more certain in South Africa.  

Source
eNCA

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