Thank heavens for platinum because gold is a dead dud

Business

Thank heavens for platinum because gold is a dead dud

Sibanye’s gold output has halved since 2014, but it has now become the world’s largest source of platinum

Allan Seccombe

Sibanye-Stillwater (https://www.sharenet.co.za/v3/quickshare.php?scode=SGL)’s full-year gold output forecast is for between 777,000 ounces and 809,000 ounces after a terrible start to the year when the full effect of a five-month strike was felt.

The full-year output will be the lowest by far since Sibanye listed in February 2013, when it brought three deep-level, labour-intensive gold mines once owned by Gold Fields (https://www.sharenet.co.za/v3/quickshare.php?scode=GFI) to the market. It achieved 1.43 million ounces of gold that year.

In 2014, Sibanye achieved gold production of 1.59 million ounces. Since then, the trend has been ever lower and management has branched into platinum group metals production, becoming the world’s largest source of platinum in little more than four years...

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