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Sibanye-Stillwater starts US Blitz production

Oct 02 2017 13:39


Company Data

Sibanye Gold Limited [JSE:SGL]

Last traded 31
Change -1
% Change -3
Cumulative volume 22903478
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Cape Town - Sibanye-Stillwater [JSE:SGL] - formerly known as Sibanye Gold -announced that on Friday September 29 2017 it commenced with production from the Blitz project.

It is located at Sibanye-Stillwater's operations in Montana, in the US.

The completion of a secondary escape-way system at the Blitz 10 stope block concluded the final infrastructure required for the production to begin.

Approximately 1 360 tonnes of ore that was excavated during development and stockpiled on the surface, will now be processed.

Based on muck sampling along the entire ore width intersected within the stope block, this initial cut delivered ore with an estimated average 2E grade of 39g/tonne.

Sibanye Gold recently changed its name to Sibanye-Stillwater due to its transformation from a gold mining company based in SA to a global precious metals company.

At the end of August the miner announced its interim results to the end of June 2017. It revealed the miner made a headline loss of R2.181bn, impacted by a lower average gold price and gold production.

By early afternoon trade the share price of Sibanye-Stillwater was down 0.07% at R15.21.

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