Sibanye throws plenty of shade with blistering results

Business

Sibanye throws plenty of shade with blistering results

Post-tax profit of R433m for the year to end-December 2019 compared with a R2.3bn loss the year before

Allan Seccombe

Sibanye-Stillwater, bearing the scars of a five-month strike at its gold division, swung back into profit for 2019 helped by higher metal prices for precious metals and by its large platinum group metals (PGMs) output.

Sibanye, the world’s largest PGMs producer, posted an after-tax profit of R433m for the year to end-December 2019 compared with a R2.3bn loss the year before.

The miner had the benefit of the former Lonmin assets it bought during 2019 in a R4.3bn all-share deal. The assets, now renamed Marikana, contributed R1.9bn in net profit in the seven months it has been in the company...

This article is reserved for Times Select subscribers.
A subscription gives you full digital access to all Times Select content.

Times Select

Already subscribed? Simply sign in below.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.