Sibanye-Stillwater to build new copper, gold mines on two continents

Mining Company Sibanye-Stillwater has approved its Mt Lyell copper-gold project in Tasmania and the Burnstone gold project in South Africa, advancing two long-life developments as stronger metals prices boost its finances.

The Johannesburg-based miner plans to spend $7.5 million on Mt Lyell in 2026 for a $340-million restart of the historic mine near Queenstown, targeting first ore in 2029. At steady state, the mine is expected to produce as much as 26,000 tonnes of copper and 16,000 oz. of gold and 116,000 oz. of silver annually.

Sibanye has incorporated $5 million for Burnstone and $7.5 million for Mt Lyell into its updated 2026 capital expenditure guidance as it moves both projects towards first ore in 2029.The two approvals add copper and gold growth to Sibanye’s pipeline. Meanwhile, existing operations benefit from sharply stronger precious metals prices, potentially giving the miner greater flexibility to fund development from internal cash flow.