Sibanye-Stillwater expects 47% earnings per share decline in H1 2022 as gold production down 77%

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Sibanye-Stillwater expects 47% earnings per share decline in H1 2022 as gold production down 77% kitconews gold silver mining economics finance metals investing

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The company said that a 9% decrease in underground 4E PGM production to 751,717 4Eoz was partly offset by a 6% increase in surface production of 72,089 4Eoz, with third-party purchase of concentrate treated at the Marikana smelting and refining operations of 25,346 4Eoz, 27% lower due to the winding down of two third party purchase of concentrate contracts in Q4 2021.

Importantly, the company’s production from the SA managed gold operations decreased by 77% in H1 2022 to 3,128kg compared with H1 2021 due to no material gold production occurring during the three-month industrial action and from the Beatrix operation during Q1 2022, due to the suspension of processing operations to allow for precautionary reinforcement and buttressing of the Beatrix TSF from 28 December 2021.

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