Sibanye Stillwater Cashed in on Strategic Growth and Diversification Initiatives

SEATTLE (Scrap Monster): Johannesburg-based Sibanye Stillwater Limited declared operating update for the quarterly period ended 31st March, 2022. The company delivered consistent operating performance across all precious group metals (PGM) segments.

According to company press release, the strategic growth and diversification initiatives delivered a solid financial performance during the quarter. It navigated the challenges, mainly driven by socio-political and economic uncertainties. The SA PGM operations delivered strong operating performance.

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The group adjusted EBITDA for the quarter remained strong at R13.7 billion (US$898 million), although 31% lower than that during the same quarter a year before. On an annualized basis, the adjusted EBITDA during Q1 2022 equates to approximately R55 billion (US$3.6 billion), which is well above adjusted EBITDA for 2020 of R49.4 billion (US$3 billion).

Sibanye Stillwater was re-included in the Bloomberg Gender-Equality Index (GEI) at the end of January this year, further affirming the company’s progress in its inclusivity journey over the years.

The all-in sustaining costs (AISC) of US$1,244/2Eoz were 11% higher than for Q4 2021, mainly due to o lower grades and the operational challenges at the East Boulder mine and higher ore reserve development expenditure. Meantime, the total capital expenditure declined by 8% during the quarter to $74 million.