Sibanye-Stillwater has told investors it is weathering the protracted and deadly strike at its SA gold mines thanks to growing profits from its US and SA platinum mines, which now account for more than 80% of profits. In a strategic update issued on Thursday, Sibanye said efforts to diversify its business, both in terms of the commodities it mines and the geographies in which it operates, means the disruptions at its gold division, where the Association of Mineworkers and Construction Union (Amcu) has been on strike since November, has been offset its platinum group metal (PGM) operations. Sibanye, which was created in 2013 after Gold Fields spun off most of its costly deep-level South African gold mines, started buying local platinum assets in 2015. It diversified into the US with the purchase of Stillwater in 2017. But the rosy market update, which sent its share price to its highest intra-day level in nearly 12 weeks, has drawn the ire of Amcu, which accused the company of shocki...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now