Johannesburg – Sibanye-Stillwater’s shareholders can expect to continue reaping rewards from the company’s foray into precious group metals (PGMs) following a record financial performance and improved output during the quarter ended March 2021.
Sibanye, the world’s leading precious metals producer, told shareholders yesterday that group adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) has jumped 78% during the March 2021 quarter to R19.82 billion.
According to chief executive Neal Froneman, the group’s South African PGM business had delivered another record financial performance during the quarter under review.
South African PGM posted a 90% increase in adjusted Ebitda to R15.2billion up from R8.04billion a year earlier as it benefitted from the steep increase in PGM prices and a sound operational performance.
“Adjusted Ebitda generated by the SA PGM operations for this quarter, is higher than the total acquisition costs of these operations, emphasising the significant return on investment already delivered and the future windfalls stakeholders can continue to expect,” said Froneman, adding that with the 4E PGM basket having increased further during the second quarter of 2021, the outlook for the year was very promising.
Sibanye’s PGM portfolio includes the Kroondal and Marikana operations in South Africa, the Mimosa mine in Zimbabwe and the Stillwater mine in the United States.
