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Mining News August 27, 2021 07:00:36 PM

Sibanye-Stillwater Announced Record Financial Performance in H1 2021

Paul Ploumis
ScrapMonster Author
The normalised earnings of R24,411 million was 176% higher when matched with the corresponding half-yearly period a year before.

Sibanye-Stillwater Announced Record Financial Performance in H1 2021

SEATTLE (Scrap Monster): Sibanye-Stillwater announced record financial performance for the six-month period ended 30th June, 2021. The South African PGM and gold operations delivered significantly higher production, whereas production from U.S. PGM operations was flat during H1 2021.

The company reported 141% higher headline earnings per share of 843 SA cents, higher by 140% year-on-year, driven by strong operating performance and robust commodity prices.  It reported record adjusted free cash flow of R17.3 billion. The Group profit surged higher by 160% to R25,319 million in H1 2021, compared with R9,731 million in H1 2020. The normalised earnings of R24,411 million was 176% higher when matched with the corresponding half-yearly period a year before.

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Sibanye-Stillwater announced preliminary steps to position the company in mobility battery metals, by acquiring an initial stake in the Keliber lithium project in Finland. In addition, it also proposed acquisition of the Sandouville Nickel Refinery in France. The company made notable progress in its strategy to create additional value through an exposure to green metals.

Meantime, Neal Froneman, CEO of Sibanye Stillwater attributed the record results to its geographic and commodity diversification.

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