Sibanye Stillwater Faces Cyber-Attack, Implements Containment Measures

Sibanye Stillwater Limited (JSE: SSW, NYSE: SBSW), a global mining and metals processing group, reported a cyber-attack affecting its IT […]

Sibanye Stillwater Limited (JSE: SSW, NYSE: SBSW), a global mining and metals processing group, reported a cyber-attack affecting its IT systems worldwide on July 11, 2024. The company swiftly enacted its Incident Response plan to isolate systems and safeguard data.

Immediate Response and Containment

Once the cyber-attack was detected, Sibanye Stillwater executed immediate containment measures. These actions aimed to isolate affected IT systems and secure sensitive data. The company’s Incident Response plan played a crucial role in mitigating potential damage.

Limited Disruption to Operations

Despite the cyber-attack, Sibanye Stillwater reported minimal disruption to its global operations. This resilience highlights the effectiveness of the company’s contingency strategies and preparedness for such incidents.

Commitment to Remediation

Sibanye Stillwater is committed to fully addressing the cyber-attack. The company is focused on remediating the effects and restoring normalcy. Regular updates will be provided as the investigation continues.

Regulatory Reporting

In compliance with regulatory requirements, Sibanye Stillwater voluntarily reported the incident to relevant authorities. This proactive approach underscores the company’s transparency and responsibility to stakeholders.

Company Profile

Sibanye Stillwater is a multinational mining and metals processing group with a diverse portfolio. The company operates across five continents, engaging in mining, metals processing, and recycling.

Key Operations

  • Platinum Group Metals (PGM): Sibanye Stillwater is a leading producer of platinum, palladium, and rhodium.
  • Gold Production: The company ranks as a top-tier gold producer.
  • Other Metals: It also produces iridium, ruthenium, nickel, chrome, copper, and cobalt.
  • Recycling and Tailings Retreatment: The group is a major recycler of PGM autocatalysts and has significant operations in mine tailings retreatment.

Recent Diversification

Sibanye Stillwater has expanded its portfolio to include battery metals mining and processing. The company is also increasing its presence in the circular economy through recycling and tailings reprocessing.

Asset Diversification

MetalProduction/Interest
PlatinumPrimary Producer
PalladiumPrimary Producer
RhodiumPrimary Producer
GoldTop Tier Producer
IridiumProduction and Refinement
RutheniumProduction and Refinement
NickelProduction
ChromeProduction
CopperProduction
CobaltProduction

Forward-Looking Statements

Sibanye Stillwater’s announcement includes forward-looking statements. These statements reflect the company’s senior management’s best judgment and estimates. They involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ.

Risks and Uncertainties

The company’s actual results may differ due to various factors. These include market conditions, operational risks, and regulatory changes. Stakeholders are advised to consider these factors when evaluating the forward-looking statements.

Conclusion

Sibanye Stillwater’s swift response to the cyber-attack demonstrates its commitment to security and operational continuity. The company is dedicated to resolving the incident and maintaining transparency with stakeholders. As the investigation progresses, further updates will be provided to ensure all parties are informed.


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