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Moody’s says Sibanye ratings remain stable

Ratings agency Moody’s has reaffirmed Sibanye-Stillwater’s credit rating as stable.

Moody’s said the ratings is a reflection of the company’s solid business profile underpinned by diversified metal production revenues, as well as the company’s track record of setting and maintaining conservative financial policies.

Sibanye fatalities 

The rating comes after the miner received backlash after its mine operations recorded more than 20 fatalities between February 2018 and June 2018.

Stakeholders attended a Safety and Health Summit convened by the miner, where they committed to a joint pledge on safety (the Safety Pledge) and a plan of action to address health and safety concerns at Sibanye.

The group, which included the Department of Mineral Resources and organised labour, the Association of Mineworkers and Construction Union (AMCU), National Union of Mineworkers (NUM), Solidarity and United Association of South African (UASA), committed to working together to make the workplaces safer; protect jobs and collaborate on all matters pertaining to the health, safety and wellbeing of workers.

“As Organised Labour, the DMR and the Management of Sibanye-Stillwater, we acknowledge the parties statutory obligation and workers right that our destiny is shared and commit ourselves, through constructive, transparent collaboration and compliance, to achieving Zero Harm,” said the group in a statement.

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