Sibanye Stillwater Ltd
SBSW
Materials
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exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Sibanye Stillwater Ltd is a multinational mining and metals processing group whose primary business is the extraction of platinum group metals (PGMs), gold, and other minerals. The company operates a diverse portfolio of mining assets across five continents, including major production facilities in Southern Africa. Its core revenue is derived from the extraction and processing of these non-fuel minerals, categorizing it as an extractive industry company.
The company's operations are linked to significant environmental and social risks. A 2025 petition concerning Sibanye-Stillwater’s activities in Marikana cited ongoing concerns over human rights, environmental safety, and community impacts. Academic and industry analyses, including a 2026 study on sustainable mining in Latin America, reference the company in the context of mining conflicts and the environmental footprints associated with extraction. Further, a 2022 review of environmental and social risks in mining identifies Sibanye Stillwater Ltd. in relation to the extraction of platinum group metals, noting the associated human rights challenges.
Sibanye Stillwater Ltd is a major international precious metals mining company with primary operations in South Africa and the United States. Its core business of extracting, processing, and refining metals is inherently linked to significant environmental impacts, including the management of large-scale mineral waste.
The company has a documented history of environmental incidents linked to its mining operations. A 2025 petition from the Marikana community, where Sibanye operates, cited serious ongoing environmental and health risks. The company’s own engagement reports reference recurring workplace accidents that have resulted in environmental and human rights impacts, including spills. Its operations involve the management of multiple tailings dams containing mineral resources, structures which carry a persistent risk of catastrophic failure and widespread contamination.
While the company engages in environmental permitting and assessment processes, such as an Air Quality Impact Assessment for its Gauteng operations in 2022, evidence points to a pattern where the scale of mining activity continues to generate significant ecological damage and community risk.
Research Sources
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