Sibanye-Stillwater warns of production drop after mine closures
After this week's announcement that South Africa will enact a nation-wide lockdown, Sibanye-Stillwater (NYSE:SBSW) said today it has begun implementing measures to place its SA gold and PGM operations under temporary care and maintenance.
The company, the world’s largest primary producer of platinum and rhodium, warned of the impact on its forecast.
"This suspension of operations will adversely impact on production at the SA mines and shareholders are therefore cautioned that production for 2020 may differ from previous guidance. Further detail will be provided once there is greater clarity on the possible production impact," said the company in a statement.