Sibanye-Stillwater halts Montana mines amid floods

Shares fall.
Image: Andrey Rudakov/Bloomberg

Sibanye-Stillwater suspended production at its two platinum group metals (PGMs) mines in Montana in the United States on Monday night after heavy flooding damaged an access road, a spokesperson said on Tuesday.

The impact of the floods on production was yet to be determined, spokesman James Wellsted said, adding that the Stillwater and East Boulder mines in the northern U.S. state were undamaged.

South Africa-listed shares in Sibanye fell 4% by 12:00.

“Road access to the Stillwater mine is likely to remain constrained for a period… but the East Boulder mine should be able to resume once the flood waters have dropped a bit (maybe tomorrow even),” Wellsted said in an emailed response to Reuters questions.

The road to the Stillwater mine was eroded and several bridges in the region damaged, the company said.

Sibanye said no injuries had been reported after the floods, which began on Monday. Sibanye’s Montana mines together produced 570,400 ounces of PGMs in 2021.

The record flooding and rockslides forced Yellowstone National Park, which spans parts of Wyoming, Montana, and Idaho, to shut for the first time in 34 years.

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