06 May 2026
Sibanye-Stillwater highlights good safety performance amid 371% earnings upsurge
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Operational consistency, focused cost control and materially higher first-quarter earnings have strengthened the financial position of Sibanye-Stillwater.
In an operating update for the three months ended March 31, the Johannesburg- and New York-listed green metals and gold-mining company has achieved zero fatalities and across-the-board safety improvements, amid a 371% upsurge in earnings before interest tax depreciation and amortisation (Ebitda) to R19.4-billion.
South Africa platinum group element (SA PGM) operations delivered 393%-higher Ebitda of R12.4-billion on 87%-higher four element (4E) PGM prices, and SA gold operations, including DRDGOLD, delivered 160%-higher Ebitda of R4.7-billion on a 49%-higher gold price and stable production.
In the SA PGM operations, continued investment in the value accretive and high return brownfields projects is progressing, including the Siphumelele/Bambanani brownfields project, and the Thembelani project. The ramp up at the K4 project at Marikana is progressing according to plan, with K4 producing 26 620 4Eoz, 21% higher year-on-year.
US PGM operations delivered 611%-higher Ebitda of R777-million on an 88%-higher 2E PGM price and Section 45X credits.
"Enhanced profitability and cash flow will support capital allocation strategic objectives providing a solid platform for continued execution of the simplification and performance excellence strategy, creating the conditions for sustainable long-term value creation for all stakeholders," Sibanye-Stillwater CEO Dr Richard Stewart stated in a media release to Mining Weekly.
"Safe production underpins operational excellence. A fatality-free quarter together with continued reductions in serious injuries and high potential incidents, demonstrates sustained progress in reducing risk across our operations.
"While we acknowledge there is further work required to sustainably meet our objectives, these results reinforce our conviction that fatality-free operations are achievable and strengthen our resolve to eliminate serious harm from our workplaces," Stewart added.
Consolidated recycling operations contributed Ebitda of R1.6-billion primarily from sales at higher prices of 1 343 043 oz of precious metals, made up of PGMs (8%), gold (3%) and silver (89%).
Ebitda of R467-million was delivered by Century zinc retreatment operation in Australia, while a staged ramp-up is underway at the Keliber lithium project in Finland, where 42 100 t of ore from mining at Syväjärvi has been stockpiled.
The Mt Lyell copper project in Tasmania is advancing towards a final investment decision, with exploration expenditure of R58.5-million being approved during the quarter.
Operational consistency, focused cost control and materially higher first-quarter earnings have strengthened the financial position of Sibanye-Stillwater.
In an operating update for the three months ended March 31, the Johannesburg- and New York-listed green metals and gold-mining company has achieved zero fatalities and across-the-board safety improvements, amid a 371% upsurge in earnings before interest tax depreciation and amortisation (Ebitda) to R19.4-billion.
South Africa platinum group element (SA PGM) operations delivered 393%-higher Ebitda of R12.4-billion on 87%-higher four element (4E) PGM prices, and SA gold operations, including DRDGOLD, delivered 160%-higher Ebitda of R4.7-billion on a 49%-higher gold price and stable production.
In the SA PGM operations, continued investment in the value accretive and high return brownfields projects is progressing, including the Siphumelele/Bambanani brownfields project, and the Thembelani project. The ramp up at the K4 project at Marikana is progressing according to plan, with K4 producing 26 620 4Eoz, 21% higher year-on-year.
US PGM operations delivered 611%-higher Ebitda of R777-million on an 88%-higher 2E PGM price and Section 45X credits.
"Enhanced profitability and cash flow will support capital allocation strategic objectives providing a solid platform for continued execution of the simplification and performance excellence strategy, creating the conditions for sustainable long-term value creation for all stakeholders," Sibanye-Stillwater CEO Dr Richard Stewart stated in a media release to Mining Weekly.
"Safe production underpins operational excellence. A fatality-free quarter together with continued reductions in serious injuries and high potential incidents, demonstrates sustained progress in reducing risk across our operations.
"While we acknowledge there is further work required to sustainably meet our objectives, these results reinforce our conviction that fatality-free operations are achievable and strengthen our resolve to eliminate serious harm from our workplaces," Stewart added.
Consolidated recycling operations contributed Ebitda of R1.6-billion primarily from sales at higher prices of 1 343 043 oz of precious metals, made up of PGMs (8%), gold (3%) and silver (89%).
Ebitda of R467-million was delivered by Century zinc retreatment operation in Australia, while a staged ramp-up is underway at the Keliber lithium project in Finland, where 42 100 t of ore from mining at Syväjärvi has been stockpiled.
The Mt Lyell copper project in Tasmania is advancing towards a final investment decision, with exploration expenditure of R58.5-million being approved during the quarter.