Sibanye-Stillwater Advances Copper and Gold Mine Development in Australia and South Africa
Sibanye-Stillwater Advances New Copper and Gold Mines in Australia and South Africa
Sibanye-Stillwater is moving ahead with the development of new copper and gold mining projects in Australia and South Africa, strengthening its strategy to diversify its commodity portfolio as stronger metal prices improve the investment case for new mines.
The Johannesburg-based mining group is progressing the Mt Lyell copper-gold project in Tasmania, Australia, while also advancing the Burnstone gold project in South Africa.
The developments form part of the company’s broader effort to build future production and strengthen its exposure to commodities with attractive long-term demand fundamentals.
Mt Lyell restart targets 2029
In Tasmania, Sibanye-Stillwater is preparing to restart the historic Mt Lyell copper-gold operation near Queenstown.
The company plans to spend about $7.5 million in 2026 as part of a broader $340 million restart investment. First ore is targeted for 2029.
Once operating at steady state, Mt Lyell is expected to produce approximately 26,000 tonnes of copper, 16,000 ounces of gold and 116,000 ounces of silver per year.
The project gives Sibanye-Stillwater a significant foothold in copper at a time when the metal is becoming increasingly important to the global energy transition, power infrastructure, electric vehicles and electrification.
Burnstone expands South African gold portfolio
In South Africa, Sibanye-Stillwater is advancing the Burnstone gold project, which contains approximately 2.7 million ounces of gold reserves.
The operation is expected to produce around 130,000 ounces of gold annually over an estimated 25-year mine life.
The development would extend Sibanye-Stillwater’s exposure to South African gold while adding a longer-life asset to its portfolio.
Diversification beyond PGMs
The new projects reflect a broader shift in Sibanye-Stillwater’s portfolio.
Historically associated strongly with platinum-group metals and gold, the company has increasingly sought exposure to commodities positioned to benefit from structural changes in the global economy.
Copper is particularly strategic because demand is expected to remain supported by grid expansion, renewable energy, electric mobility and industrial electrification.
At the same time, gold remains an important source of portfolio diversification and cash-flow potential, particularly amid elevated gold prices.
Building future production
The development of Mt Lyell and Burnstone represents a move toward replacing and expanding production through new and restarted operations rather than relying solely on existing assets.
For Sibanye-Stillwater, the projects also provide geographic diversification, giving the group exposure to mining operations across Australia and South Africa.
The company will now focus on advancing project development, managing capital expenditure and preparing the operations for their respective production milestones.
If the projects proceed as planned, they will provide Sibanye-Stillwater with additional copper and gold production from the end of the decade, while strengthening its position in two commodities that remain strategically important to the global mining industry.
