Sibanye-Stillwater’s Blitz project in US to help group to better performance
Sibanye-Stillwater’s US operations delivered record recycling, a factor expected to contribute to the improved performance by the group in the six months to end-December. Sibanye-Stillwater has built up a portfolio of assets in different regions, having pursued three ambitious takeovers in 2017. These were: Stillwater in the US, a joint venture with DRDGold to exploit gold and uranium tailings dumps and a proposed all-share takeover of troubled Lonmin. In an operating update for the second half of 2017 released on Monday, Sibanye-Stillwater reiterated that its US Blitz project yielded its first platinum group metals (PGM) output in October 2017, ahead of schedule. The US PGM operations produced about 376,300oz for the eight-month period since acquisition, which is in line with guidance of between 350,000oz and 380,000oz. Sibanye-Stillwater also reported "positive momentum" for the PGM sector in SA. Production for the second half of the year of 603,635oz was expected to be 2% higher ...
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