Sibanye to resume dividend payments soon
Surging platinum group metal prices have boosted balance sheet repairs with the mining company moving into a ‘new phase’
06 February 2020 - 17:29
Surging platinum group metal (PGM) prices have accelerated Sibanye-Stillwater’s balance sheet repairs, clearing the way for resumed dividends in mid-2020, CEO Neal Froneman says.
Sibanye, which has grown its PGM division from nothing to the world’s largest in four years, took on hefty debt when it paid $2.2bn (about R32.65bn) cash for US-based Stillwater Mining, a palladium and platinum producer, putting its balance sheet under pressure and leading to the withholding of dividends...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.