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Arnold Van Kraan

Research Analyst at Nedbank Group

Arnold Van Graan is the Head of Markets Research at Nedbank Group, specializing in equity analysis of South African gold and platinum mining companies. Since joining Nedbank in May 2016, he has covered major firms such as Sibanye Stillwater and other leading local gold and platinum producers, and is recognized for his expertise and frequent appearances at sector conferences. With prior experience in equity research roles before Nedbank, Van Graan brings deep industry knowledge built over more than a decade in financial markets. He is known for rigorous performance analysis in the mining sector, though publicly available metrics, rankings, or licensing credentials are limited.

Arnold Van Kraan's questions to Sibanye Stillwater (SBSW) leadership

Question · H1 2025

Arnold Van Kraan of Nedbank asked about the operational challenges at the South African gold operations, inquiring when performance is expected to stabilize and what the production and CapEx profile will look like over the next two to three years.

Answer

Richard Stewart, CEO Designate & Executive Director, explained that while the Beatrix and Driefontein mines have stabilized, the Klerksdorp operations remain a challenge due to seismicity. He projected future annual production of 8-8.5 tons from Driefontein and 4 tons from Beatrix, with Klerksdorp's output likely halving. He anticipates annual CapEx will remain steady at approximately ZAR 3.5 billion.

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