Approximately 1,360 mt of ore excavated during Blitz development and stockpiled on the surface is now being processed. Based on muck sampling along the entire 115 ft of ore width intersected within the stope block, the initial cut delivered ore with an estimated average palladium-platinum grade of 39 grams (g) per metric ton (mt).

Blitz is expected to reach full production of approximately 300,000 oz per year (oz/y) of combined palladium and platinum by late 2021 or early 2022, increasing total production from Sibanye-Stillwater’s U.S. operations by more than 50% to approximately 850,000 oz/y. The increased production from Blitz is expected to further reduce unit operating costs of the U.S. operations.

Sibanye-Stillwater CEO Neal Froneman commented, “The integration of the U.S. operations since the acquisition in May 2017 has been pleasing. The operations continue to deliver as anticipated, and first production from Blitz is more than three months ahead of schedule. Initial ore intersected and excavated from the Blitz project is significantly higher grade than the average Stillwater mine combined proven and probable palladium-platinum reserve grade of 19.55 g/mt and is an indication of the quality of the Blitz project.

“Delivery of low-cost production growth into a robust price environment, supported by long-term palladium fundamentals in our view, is what underpinned our decision to acquire Stillwater. The early commissioning of Blitz has confirmed our view that the U.S. operations will deliver significant value to Sibanye-Stillwater in the future.” Sibanye Gold acquired Stillwater Mining in a transaction that closed in May. The company changed its name to Sibanye-Stillwater at the end of August.