Sibanye-Stillwater Limited sets out a refreshed strategy to create a high-performing, future-focused metals business. The plan focuses on simplification of its operating model, performance excellence, disciplined capital allocation and value-accretive growth across primary mining, secondary mining and recycling.
The Group targets about R3 billion in annual cost savings by 2027 and a ~2.5% increase in gold-equivalent production off its 2027 base, mainly through productivity initiatives. It also aims for more than a 15% production uplift off its 2035 base from brownfield projects, while transitioning South African gold toward shallower, higher-margin operations.
Management plans to reduce gross debt by around 50% over two to three years from roughly US$2.2 billion, maintain gearing below 1.0x net debt to adjusted EBITDA and apply a dividend policy of 25–35% of normalised earnings. Capital will be split roughly one-third each between stakeholder returns, debt reduction and life-extension or growth, while projects such as the K4 PGM expansion, Burnstone and the phased Keliber lithium refinery ramp-up are advanced within a capital envelope that is not expected to rise significantly.
JPMorgan Chase & Co. has filed an amended Schedule 13G reporting its beneficial ownership in Sibanye Stillwater Limited as of 12/31/2025. The firm reports beneficial ownership of 140,082,817 ordinary shares of no par value, representing 4.7% of the class.
JPMorgan Chase & Co. reports sole voting and sole dispositive power over all 140,082,817 shares, with no shared voting or dispositive power. The filing identifies the reporting person as a parent holding company (HC), with J.P. Morgan Securities PLC and J.P. Morgan Securities LLC listed as relevant subsidiaries. The securities are certified as being held in the ordinary course of business and not for the purpose of changing or influencing control of Sibanye Stillwater.