Sibanye-Stillwater 1Q Earnings Soared on Stronger Production, Prices
By Jaime Llinares Taboada
Sibanye-Stillwater Ltd. on Thursday reported significantly
higher adjusted earnings for the first quarter of the year, as
production and prices remained well above a year earlier.
The Johannesburg-listed precious metals miner posted adjusted
earnings before interest, taxes, depreciation and amortization of
$1.33 billion for the quarter ended March 31. This was up from
$723.8 million in the first quarter of 2020, and also from $1.11
billion in the fourth quarter.
U.S. palladium and platinum production rose 9% year-on-year to
154,350 ounces, and output from the platinum group metals
operations in Southern Africa was up 6% at 444,609 ounces.
Production from gold mines increased 5% to 249,392 ounces.
The company reaffirmed full-year production guidance for all
three segments. "Given a stable operational outlook and favorable
precious metals fundamentals, the outlook for 2021 and beyond is
expected to be positive," it said.
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(END) Dow Jones Newswires
May 06, 2021 02:39 ET (06:39 GMT)
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