Sibanye-Stillwater Contributes To The National Solidarity Fund
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.
For more information visit https://www.solidarityfund.co.za/.