Sibanye-Stillwater Approves New Copper-Gold and Gold Projects in Tasmania and South Africa

Sibanye-Stillwater has approved two significant projects to expand its mining operations on two continents. The company will spend $7.5 million on the Mt Lyell copper-gold project in Tasmania and $340 million on the Burnstone gold project in South Africa.

The Mt Lyell project, which is expected to produce 26,000 tonnes of copper, 16,000 oz of gold, and 116,000 oz of silver annually, will restart a historic mine near Queenstown. The project has a 23-year mine life and an all-in sustaining cost of $2.56 per lb of copper.

The Burnstone project, which has 2.7 million oz in gold reserves, is expected to produce about 130,000 oz annually over a 25-year mine life. Sibanye said the project will help shift its South African gold portfolio towards shallower, lower-risk, and longer-life production.

The approvals add copper and gold growth to Sibanye's pipeline while its existing operations benefit from sharply stronger precious metals prices. The company has incorporated $5 million for Burnstone and $7.5 million for Mt Lyell into its updated 2026 capital expenditure guidance.