Sibanye May Boost Platinum Metals Output in South Africa
- Board to decide on K4 and Klipfontein projects this quarter
- Potential investment would extend life of Marikana operations
Sibanye’s Marikana mine in Marikana, South Africa.
Photographer: Kevin Sutherland/Bloomberg
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Sibanye Stillwater Ltd. may spend 3.9 billion rand ($270 million) on extending the life of the Marikana operations it acquired with the purchase of Lonmin Plc two years ago after platinum-group metals rallied.
Chief Executive Officer Neal Froneman said last month that Sibanye plans further investments to boost PGMs output from South Africa. The head of the world’s No. 1 platinum miner said the metal could climb by more than 80% during the next four to five years as the global economy recovers and supply dwindles.