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Sibanye-Stillwater delays interim results after cyberattack

26 Jul 2024

Sibanye-Stillwater published an update on the cyberattack that affected its IT systems earlier this month. Despite the attack, the company has been able to maintain mining and extraction operations globally with minimal disruption. "We have prioritised the health and safety of our employees as we have worked diligently to remediate the effects of the attack and normalise our operations," said CEO Neal Froneman in the media statement.

Sibanye-Stillwater says it has recovered from the cyberattack with minimum disruption.

In response to the attack, which remains under investigation, Sibanye-Stillwater has implemented enhanced security measures and a phased system start-up approach to protect its environment.

While most systems have been restored, the Columbus metallurgical complex that recycles catalytic converters in the US experienced some short-term delays due to IT outages.

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However, the company expects to quickly resume full operations and process accumulated stockpiles at the proper time.

"We are pleased to have largely secured the sustainability and integrity of our systems and continue to work closely with our customers and suppliers to mitigate any potential business interruptions that may occur in the short term," Froneman added.

Results delayed

The cyberattack has also caused a delay in the publication of the operating and financial results for the first half of 2024 – which has now been rescheduled to Thursday, 12 September 2024.

Sibanye-Stillwater expressed its gratitude to its partners and advisors for their commitment and combined efforts in helping the company recover from the cyberattack.

"We wish to thank all our partners and advisors for their commitment and combined efforts, which have contributed to this outcome," Froneman concluded.