Sibanye-Stillwater Mines by Country: Full List

Sibanye-Stillwater runs PGM mines in South Africa, Zimbabwe and Montana, gold mines in South Africa, a lithium project in Finland, a zinc tailings operation in Australia and recycling plants in the United States. Its annual report on Form 20-F for 2025 describes the group as one of the world’s largest primary producers of platinum, palladium and rhodium and a top-tier gold producer. This page lists every operation by country, with the ownership stake, the metal and the status in the company’s own filings, then shows what the mines produced in the first half of 2026.

Platinum group metals (PGMs) are platinum, palladium, rhodium, iridium, ruthenium and osmium. The group reports its South African and Zimbabwean output as “4E” ounces, meaning platinum, palladium, rhodium and gold counted together. Its Montana mines are reported as “2E” ounces, platinum plus palladium. Rand amounts are written R, with R1 billion shown as Rbn. “Attributable” means the share of the mine that Sibanye-Stillwater owns.

Sibanye-Stillwater mines by country: summary table

The table follows the operations list in the group’s 20-F for the year ended 31 December 2025 and the interim results for the six months to 30 June 2026 (filed on Form 6-K). Stakes are the attributable interests stated in those documents.

South African PGM mines: Marikana, Rustenburg and the tailings plants

The South African PGM business has two managed underground operations, Marikana and Rustenburg, according to the 2025 Form 20-F. Marikana (80.64% attributable) smelts its own and third-party concentrate on site and sends the matte to a precious metals refinery at Brakpan, east of Johannesburg. Rustenburg (74% attributable) sends its concentrate to Valterra Platinum, formerly Anglo American Platinum, under a toll-treatment agreement, and Sibanye-Stillwater keeps ownership of the refined metal. The interim report groups Kroondal with Rustenburg, so Kroondal no longer appears as a separate line.

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World platinum mine production by country

Kilograms of platinum, 2025 estimate

Both mines work the Bushveld Complex, a layered igneous intrusion in northern South Africa that holds the world’s largest PGM resources. The USGS Mineral Commodity Summaries 2026 put South Africa’s platinum mine output at 120,000 kilograms in 2025 (estimate), about 71% of the 170,000 kilograms mined worldwide, and its reserves at 63,000,000 kilograms of PGMs.

Alongside the shafts, the group runs secondary mining plants that treat old tailings: Platinum Mile, the Western Limb tailings retreatment plant, a bulk tailings plant and an eastern tailings plant. In the first half of 2026 surface production, mostly from these plants, fell 26% to 40,034 4E ounces, while underground output excluding Mimosa rose 1%. Total South African PGM production was 789,647 4E ounces excluding purchased concentrate and 831,307 4E ounces including it (interim results, Form 6-K).

The same report records three deaths in the second quarter, one at Marikana K3 on 16 April and two at the Kloof Masimthembe shaft on 3 May. The group reported its best first-half injury rates on record, but its PGM injury rates were worse than a year earlier. For a closer look at the shafts and their effect on neighbours, read our guide to Sibanye-Stillwater mining operations in South Africa and the list of the largest platinum mining companies.

Mimosa: the Zimbabwe platinum mine

Mimosa is an underground PGM mine in Zimbabwe. Sibanye-Stillwater holds 50% and does not manage it, so the group reports its half of the output. Attributable production fell 7% to 55,002 4E ounces in the first half of 2026, and the all-in sustaining cost rose 23% to US$1,465 per 4E ounce (Form 6-K). The group’s guidance for South African PGM output of 1.65 to 1.75 million 4E ounces for 2026 includes 50% of Mimosa.

South African gold mines: Kloof, Driefontein, Cooke and Beatrix

The gold division has four managed producing operations: Kloof, Driefontein and Cooke in the West Wits region near Johannesburg, and Beatrix elsewhere in South Africa. Kloof and Driefontein are 100% owned and Cooke is 76% attributable. Burnstone in Mpumalanga is a development project. The group also owns 50.10% of DRDGOLD, which runs the Far West Gold Recoveries and Ergo tailings operations (Form 20-F). Our guide to West Wits gold projects covers the shafts in more detail.

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Sibanye-Stillwater production guidance, midpoint

Thousand ounces, full-year guidance; midpoint of each range is our calculation

First-half 2026 gold production was 293,665 ounces (9,134 kilograms), down 2%. Kloof fell 19% and Driefontein was broadly stable. For the full year the group guides 614,000 to 635,000 ounces including DRDGOLD, and 440,000 to 473,000 ounces without it. The all-in sustaining cost (AISC, the cost per ounce that includes sustaining capital and overheads) rose 14% to R1,638,089 per kilogram, or US$3,105 per ounce. The 20-F says seismic events disrupted work areas at Driefontein and Kloof in 2025, and the interim report says seismic damage and plant recoveries limited output at Beatrix.

Burnstone is the growth project. The board approved it after a restated feasibility study, with steady-state output of about 130,000 ounces a year, a plant start expected in 2029, a net present value of about R19.2bn at a 10% discount rate and an internal rate of return of about 36.1% (company figures from the same Form 6-K). Those are company estimates, not guarantees.

Is there a Sibanye-Stillwater uranium mine?

No. The group does not run a uranium mine. Its 20-F says significant uranium is present in the old tailings dumps at Cooke and in the Beisa project at Beatrix, a combined gold and uranium deposit, and treats them as development and exploration projects. In December 2024 it agreed to sell the Beatrix 4 shaft, including Beisa, to Neo Energy Metals for R500 million, half in cash and half in new Neo shares, and to keep a royalty on uranium sold, capped at US$5 per pound (Miningmx, December 2024). The sale had not closed by the interim report for the six months to 30 June 2026 (Form 6-K): it still needs regulatory approvals, and the two companies extended the deadline for them to 6 June 2027. Beatrix 4 has been on care and maintenance since 2023, and Miningmx reports its resources at 1.2 million ounces of gold and 26.9 million pounds of uranium. Older web pages that quote a uranium output figure for the group are not supported by its current reports.

Stillwater and East Boulder: the Montana PGM mines

In the United States the group owns the Stillwater mine (west and east sections; Stillwater West has been on care and maintenance since the end of 2024), the East Boulder mine, two concentrators near Nye, and a smelter and base metals refinery at Columbus, Montana. The Columbus complex also recycles PGMs from used catalytic converters. The USGS reports that one company mined and processed PGMs in Montana in 2025, with palladium output falling from 10,200 kilograms in 2024 to 6,200 kilograms (estimate) as one operation stayed on care and maintenance. The same USGS summary estimates that the United States relied on imports for 89% of the platinum it used in 2025.

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United States PGM mine production

Kilograms, 2021 to 2025 (2025 estimate)

In the first half of 2026 the Montana mines produced 137,930 2E ounces, down 2%. East Boulder fell 6% to 61,595 ounces on lower grade and labour shortages in sublevel extraction, and Stillwater East held steady at 76,334 ounces. AISC rose 12% to US$1,347 per 2E ounce, and the group targets about US$1,000 by the end of 2028 through mechanisation. Labour contract talks with the United Steelworkers were still under way. Read more on the local effects in our post on Montana land and water impacts, and on the Stillwater name in Sibanye-Stillwater Limited in the USA.

East Boulder, in Sweet Grass County, has produced PGMs since 2002. In August 2024 the Montana Department of Environmental Quality published a final environmental impact statement for a new tailings storage facility and waste rock area there, which it said would give the storage needed to keep mining for about 11 to 14 years at current rates (Montana DEQ).

Recycling is now a major earner. Pennsylvania (Reldan, bought in March 2024) and North Carolina (Metallix, bought on 4 September 2025 for US$129 million) process scrap jewellery, electronic scrap and industrial waste. The group recycled and sold 244,000 gold-equivalent ounces in the first half of 2026 against 165,000 a year earlier, and its guidance for the full year is 400,000 to 420,000 gold-equivalent ounces.

Keliber: the lithium project in Finland

Keliber is the group’s battery metals project in the Kaustinen, Kokkola and Kruunupyy area of western Finland. Sibanye-Stillwater owns 79.82%, the Finnish Minerals Group holds 20% and other minority holders share the rest. The plan has two open pits (Syväjärvi and Rapasaari), a concentrator at Päiväneva near Kaustinen and a lithium hydroxide refinery at the port of Kokkola, on a mine life of 18 years (Form 20-F). Lithium hydroxide is a battery chemical; the USGS says batteries accounts for about 88% of world lithium end use.

Mining at Syväjärvi began in February 2026 and hot commissioning of the concentrator started in April. By 30 June 2026 the ore mined reached 217,500 tonnes with a 185,500-tonne stockpile, and construction spending had reached EUR719 million against an approved EUR783 million. The group chose a staged start: the mine and concentrator first, then the refinery once the lithium market and operating readiness justify it, and guidance for 2026 is 15,000 to 20,000 tonnes of spodumene concentrate (Form 6-K). The cost estimate had been raised 17% from EUR667 million to EUR783 million in 2025, which Mining Technology traced to regulatory changes, a larger scope and lower lithium prices.

Earlier web claims that Keliber would supply lithium for a fixed number of electric vehicles by a set year are not in the company’s filings, so this page leaves them out. For scale, the USGS lists Finland at 55,000 tonnes of measured and indicated lithium resources, against 28 million tonnes for Argentina.

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Other sites: Century, Mt Lyell, Sandouville, Altar and Marathon

Century, in Queensland, is a zinc tailings retreatment operation that the group describes as the largest of its kind in Australia. Payable zinc fell 13% to 45,000 tonnes in the first half of 2026 as the tailings run out, and the group is studying phosphate deposits nearby to reuse the plant. Mt Lyell in Tasmania, bought in 2023 for US$10 million under an option, has a maiden mineral reserve and a positive investment decision from the board, subject to settling an agreement with the previous owner. At steady state, expected by 2032, it should produce about 26,000 tonnes of copper, 16,000 ounces of gold and 116,000 ounces of silver a year. Sandouville, the nickel refinery in France, stopped producing during 2025 and stays on care and maintenance while staff consultations proceed.

The group also holds 31.47% of the Altar copper-gold porphyry project in San Juan Province, Argentina, which had a preliminary economic assessment in 2025, and 12.14% of Generation Mining, owner of the Marathon PGM project in Canada. Neither is a producing mine.

Production and financial results by division

The charts below set the group’s size against the world market and show how prices lifted the first-half results. Revenue rose 64% to R90bn for the six months to 30 June 2026 and profit for the period was R18.8bn against a loss of R3.9bn a year earlier, according to the interim results, Form 6-K. The South African PGM division earned R19.2bn of adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) on a 67% higher PGM basket price, and the gold division earned a record R9bn. The company declared an interim dividend of 201 cents a share. The earlier full-year release, covered by Business Report, put 2025 adjusted EBITDA at R37.8bn, up 189%.

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First-half results, 2025 versus 2026

Rand billions, six months to 30 June

Not every mine gains from price: the group’s costs also rose. The calculator below turns an all-in sustaining cost and a price into a margin, which is how the group states profitability for each division.

How to read AISC margin: PGM margin calculator

All-in sustaining cost is the cost of producing one ounce, including mining, processing, royalties, sustaining capital and overhead. The AISC margin is the price received minus AISC, divided by the price. In the first half of 2026 the South African PGM operations had an AISC of R26,252 (US$1,600) per 4E ounce and an AISC margin of 44%. Enter your own ounces, price and cost to see how the margin moves.

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How we built this list

We took the operations, stakes and status from the group’s 20-F for 2025 and its interim results for the six months to 30 June 2026, both filed with the US Securities and Exchange Commission. We used the USGS Mineral Commodity Summaries 2026 for world production and reserves, and news reports only for deal terms and for results coverage. Where a figure came from a report on the results rather than the filing, the text says so. Tables, ranks and stake percentages change when the group buys, sells or restructures an asset, so check the latest filing before you rely on one.

Watching large mine sites from satellites

Open-pit and tailings sites change visibly from one season to the next: dam walls, stockpiles, haul roads and cleared ground all show up in public imagery such as Sentinel-2. The image at the top of this page is a Sentinel-2 composite of the Marikana area. Farmonaut’s satellite mineral detection screens a licence area for exploration targets from the same kind of imagery, ahead of any drilling or resource estimate. Licence owners and consultants can send a boundary through the mining query form, or contact the team to ask about a quote.

Investors who compare miners can also see our guide to gold mining ETFs and stocks, which gives facts only and no advice.

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If this topic matters to you, read Hunter Valley Coal Mines Map and Mine List next.

Frequently asked questions

What mines does Sibanye-Stillwater own?

It owns or holds stakes in PGM mines at Marikana, Rustenburg and Mimosa, gold mines at Kloof, Driefontein, Cooke and Beatrix, the Stillwater and East Boulder mines in Montana, the Keliber lithium project in Finland, the Century zinc operation and the Mt Lyell copper project in Australia. The summary table above gives stakes and status.

Where are the Sibanye-Stillwater PGM mines?

Marikana and Rustenburg are in South Africa, Mimosa is in Zimbabwe, and Stillwater and East Boulder are in Montana, United States.

Does Sibanye-Stillwater still mine gold?

Yes. Its South African gold operations produced 293,665 ounces in the first half of 2026, and it guides 614,000 to 635,000 ounces for the full year including DRDGOLD, or 440,000 to 473,000 ounces without it.

How many platinum ounces does Sibanye-Stillwater produce?

The group reports 4E ounces, which include palladium, rhodium and gold. South African operations produced 831,307 4E ounces in the first half of 2026 including purchased concentrate, and it guides 1.65 to 1.75 million for the year.

What is the Sibanye-Stillwater Montana mine?

It is two mines, Stillwater and East Boulder in Montana, which produced 137,930 2E ounces of platinum and palladium in the first half of 2026.

Is Keliber producing lithium yet?

Not at the refinery. Mining began in February 2026 and the concentrator started hot commissioning in April 2026, but the lithium hydroxide refinery at Kokkola is being staged with its timing tied to market conditions.

Does Sibanye-Stillwater mine uranium?

No. It holds uranium in old Cooke tailings and at the Beisa project, which it agreed to sell to Neo Energy Metals in December 2024 while keeping a royalty; the sale had not closed as of the H1 2026 6-K, and the approvals deadline is 6 June 2027. The sale was still waiting for regulatory approvals in the interim report to 30 June 2026.

Who owns Sibanye-Stillwater’s mines in Zimbabwe?

Sibanye-Stillwater holds 50% of Mimosa and does not manage it. The group counts only its share of the output.

Which Sibanye-Stillwater mine is closing?

The filings show Century nearing end of life, Beatrix 4 on care and maintenance since 2023, Sandouville on care and maintenance and Mt Lyell in care and maintenance until its restart.

What are the biggest risks at Sibanye-Stillwater mines?

The filings list fatal accidents, seismic events at the deep gold mines, metal price swings, labour talks and the cost of mining at depth. The 20-F carries the full risk list.