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.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

May 06, 2021 02:39 ET (06:39 GMT)

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