Johannesburg - On 23 March 2020, the President of the Republic of South Africa (SA), Cyril Ramaphosa, announced a 21 day nation-wide national lockdown and widespread sanction on industrial and social activity, in response to the escalating COVID-19 crisis, which, on 9 April 2020, was extended by a further two-week period.
The Board and management of Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) notes President Ramaphosa's recent plea for additional support in the national fight against COVID-19, as well as the financial commitment made by the SA President, Deputy President, Minister and Deputy Ministers to donate a third of their salaries for the next three months to the Solidarity fund, which has been specifically established to cushion the impact of the COVID-19 pandemic on the most vulnerable members of society in SA.
In support of the President's call for unified action and in solidarity with our employees and other South African's during this difficult time, the Board and Executive Management of Sibanye-Stillwater have therefore unanimously elected to contribute a third of their remuneration for the next three months to the national Solidarity fund.
Sibanye-Stillwater is a leading global precious metals company with a significant presence in SA where it provides employment to over 80,000 people and makes a significant contribution to the SA economy Not only does the Group play a vital role as a significant employer in the regions in which it operates in the United States and in Southern Africa it also provides critical support to local communities, businesses and regional economies.
The safety, health and wellbeing of our employees, contractors and communities is our primary concern and every effort continues to be made to identify and minimise the risks posed by COVID-19 to employees and contractors. We are however mindful of the critical support we provide for thousands of employees and their families, communities and small businesses as well as the essential financial contribution we make to both regional and national economies. In this regard, we continue to engage with all stakeholders on ways to minimise impact on SA economy and ensure our sustainable contribution to the SA economy.
In support of the bold steps announced by the SA President to mitigate the impact of the COVID-19 crisis on 23 March 2020, we announced on 25 March 2020 that our all our SA gold and SA PGM operations would be placed under care and maintenance. From 14 April 2020. Approval for limited mining and processing at the SA operations has subsequently been received, subject to the implementation of agreed protocols to address COVID-19 related health and safety risks. These actions in SA follow an earlier decision to defer non-essential growth capital expenditure at our US PGM operations in order to reduce personnel numbers in compliance with local health and safety requirements.
More about the Solidarity fund
The Solidarity fund (the fund) had been created to serve as a vehicle to help citizens and businesses contribute to in order to fight the impact of COVID-19 by supporting the fund in prevention, detection, care and support. The fund is intended to track the spread and care for those who are ill. The fund was the first phase of the economic response to the virus. The fund will account fully for funds contributed and will boast an independent board to ensure proper governance.
The fund has the aim to prevent the spread of the disease in South Africa by supporting measures to 'flatten the curve' and lower infection rates. To detect and understand the magnitude of the disease, to care for those in hospital or medical care and to support those whose lives have been disrupted by the pandemic.
The fund will be independently administered and will work with other initiatives to achieve these objectives. Through this fund, individuals and organisations will be able to support these efforts through secure, tax-deductible donations. The Fund will operate with the highest principles of corporate governance and through an independent Board. All activities will be reported in a transparent manner. The fund administration will be done through professional managers and organisations in the private sector. The President of South Africa has appointed Ms Gloria Serobe as the Chairperson of the Fund.
Contact:
James Wellsted
Tel: +27 (0) 83 453 4014
Email: ir@sibanyestillwater.com
FORWARD LOOKING STATEMENTS
The information in this announcement may contain forward-looking statements within the meaning of the 'safe harbour' provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, among others, those relating to Sibanye-Stillwater Limited's ('Sibanye-Stillwater' or the 'Group') financial positions, business strategies, plans and objectives of management for future operations, are necessarily estimates reflecting the best judgment of the senior management and directors of Sibanye-Stillwater.
All statements other than statements of historical facts included in this announcement may be forward-looking statements. Forward-looking statements also often use words such as 'will', 'forecast', 'potential', 'estimate', 'expect' and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth in this disclaimer and in the Group's Annual Integrated Report and Annual Financial Report, published on 29 March 2019, and the Group's Annual Report on Form 20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 5 April 2019 (SEC File no. 001-35785), and the Form F-4 filed by Sibanye Stillwater Limited with the Securities and Exchange Commission on 4 October 2019 (SEC File no. 333-234096) and any amendments thereto. Readers are cautioned not to place undue reliance on such statements.
The important factors that could cause Sibanye-Stillwater's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, our future business prospects; financial positions; debt position and our ability to reduce debt leverage; business, political and social conditions in the United States, United Kingdom, South Africa, Zimbabwe and elsewhere; plans and objectives of management for future operations; our ability to obtain the benefits of any streaming arrangements or pipeline financing; our ability to service our bond Instruments (High Yield Bonds and Convertible Bonds); changes in assumptions underlying Sibanye-Stillwater's estimation of their current mineral reserves and resources; the ability to achieve anticipated efficiencies and other cost savings in connection with past, ongoing and future acquisitions, as well as at existing operations; our ability to achieve steady state production at the Blitz project; the success of Sibanye-Stillwater's business strategy; exploration and development activities; the ability of Sibanye-Stillwater to comply with requirements that they operate in a sustainable manner; changes in the market price of gold, PGMs and/or uranium; the occurrence of hazards associated with underground and surface gold, PGMs and uranium mining; the occurrence of labour disruptions and industrial action; the availability, terms and deployment of capital or credit; changes in relevant government regulations, particularly environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business ownership, including any interpretations thereof which may be subject to dispute; the outcome and consequence of any potential or pending litigation or regulatory proceedings or other environmental, health and safety issues; power disruptions, constraints and cost increases; supply chain shortages and increases in the price of production inputs; fluctuations in exchange rates, currency devaluations, inflation and other macro-economic monetary policies; the occurrence of temporary stoppages of mines for safety incidents and unplanned maintenance; the ability to hire and retain senior management or sufficient technically skilled employees, as well as their ability to achieve sufficient representation of historically disadvantaged South Africans' in management positions; failure of information technology and communications systems; the adequacy of insurance coverage; any social unrest, sickness or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-Stillwater's operations and the impact of HIV, tuberculosis and other contagious diseases. These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).
SIBANYE STILLWATER LIMITED 
