Sibanye Stillwater, the JSE-listed mining group led by South African executive Richard Stewart, has secured approval for a secondary listing on A2X Markets, giving investors another venue to trade its shares from Oct. 6 while retaining its primary listing on the Johannesburg Stock Exchange.

A2X confirmed the listing Tuesday, adding the R117 billion ($7.1 billion) mining group to a platform that already hosts several major South African mining companies. Sibanye-Stillwater has operations, projects and investments across five continents, with its total issued share capital unchanged by the secondary listing.

Mining shares gain another venue

The listing puts Sibanye-Stillwater alongside Gold Fields, Impala Platinum, Harmony Gold and AngloGold Ashanti, all of which already trade on A2X. The addition lifts the exchange’s total tradable instruments to 167 and takes its exposure to 31 FTSE/JSE Top 40 constituents with a combined market value above R12 trillion ($730 billion).

Kevin Brady, A2X’s CEO, said the listing reflected growing confidence among issuers in the exchange as a secondary market. He said the platform gives investors another way to access Sibanye-Stillwater, one of South Africa’s major mining groups, while offering companies an additional trading venue for their shares.

Stronger financial performance

The listing comes as Sibanye-Stillwater emerges from a difficult period marked by asset impairments and leadership changes. The producer of platinum, palladium and gold has been working to strengthen its financial position as commodity prices, operating costs and performance across its mining assets have shaped investor sentiment.

For the six months ended June 30, Sibanye-Stillwater reported record revenue of R90 billion ($5.5 billion), a 64% increase from the same period a year earlier. Adjusted EBITDA more than doubled to R31.8 billion ($1.9 billion), compared with a R3.9 billion ($237 million) loss in the first half of 2025.

JPMorgan builds stake

Cash generation also improved, with net cash from operating activities reaching a record R19.6 billion ($1.2 billion) in the first half. The stronger results give the company a firmer financial backdrop as it expands investor access through A2X while maintaining its established JSE listing.

Sibanye-Stillwater also recently disclosed that JPMorgan Chase & Co. holds a 5.04% stake in the company. The holding is valued at about $360 million based on Sibanye-Stillwater’s current market value, adding another major institutional investor to the shareholder base of the precious metals producer.