Sibanye-Stillwater earnings surge on higher metal prices and solid performance
The company advised that it expects to report profit attributable to the owners of the group of between R28,726 million (US$1,745 million) and R29,898 million (US$1,816 million) for the financial year ended 31 December 2020. This is substantially higher than profit attributable to the owners of the group of R62 million (US$4 million) for the previous financial year.
Sibanye-Stillwater added that earnings per share (EPS) are expected to be between 1,053 SA cents (64 US cents) and 1,095 SA cents (67 US cents) compared with EPS of 2 SA cents (0.2 US cents) for the period ended 31 December 2019.
The company noted that the expected increase in earnings was underpinned by a solid group operational performance for 2020 and driven by higher metal prices and a weaker rand.
Sibanye-Stillwater is a leading international precious metals mining company, with a diverse portfolio of platinum group metal (PGM) operations in the United States and Southern Africa, gold operations and projects in South Africa, and copper, gold and PGM exploration properties in North and South America.
It is the world’s largest primary producer of platinum and rhodium, the second largest primary producer of palladium and a top tier gold producer, as well as a significant producer of other PGMs and associated minerals such as chrome.