Sibanye-Stillwater to restart Mt Lyell copper mine in Australia

Sibanye-Stillwater is moving forward with the R5.5bn Mt Lyell copper project in Tasmania, Australia, following recent approvals. CEO Richard Stewart described the site as having “juicy” geology with significant potential for resource expansion. The company plans to invest approximately A$11m in 2026, aiming for steady-state production by 2029.

Once operational, the mine is expected to produce up to 26,000 tons of copper annually, alongside 16,000 ounces of gold and 116,000 ounces of silver. The company is exploring ways to use these precious metal by-products to help finance the project and reduce debt.

The reopening follows the mine's closure in 2014 due to safety incidents. The revitalization project includes constructing a new processing plant and upgrading ventilation, power, and water infrastructure. The Tasmanian government is supporting the move, which is expected to create over 300 jobs and provide economic dynamism to the West Coast region. Scientific studies suggest the mine could remain operational for another 23 years.