Sibanye’s losses over 18 months stretch to R44bn
Miner to slash US platinum output, but CEO says it is well positioned to benefit from a recovery in prices
12 September 2024 - 16:47
UPDATED 12 September 2024 - 19:27
Sibanye-Stillwater reported a R7bn loss in the six months to end-June, from a R7.8bn profit in the first half of 2023, with the group announcing plans to restructure its mines in Montana, slashing production of palladium and platinum from the assets by up to 45% in a bid to return the assets to profitability.
The company’s interim loss follows a 2023 full-year loss of R37bn reported in March as soft platinum group metals (PGM) prices eat into the bottom line...
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