Reuters.Sibanye-Stillwater, the South African mining company, has revealed its Q3 results, indicating a mixed performance across its global operations. The company’s South African platinum group metals (PGM) operations, a significant contributor to its financial performance, are facing restructuring that may affect over 4,000 jobs. This follows the closure of two shafts and comes as the adjusted Ebitda for Q3 declined to R2.53bn from R8.3bn year-on-year.
The company’s US operation, Stillwater Mine, also faces challenges with its adjusted Ebitda falling to R397m ($21m) from R895m ($52m) year-on-year. This decline in revenue is attributed to increasing all-in sustaining costs, staff departures, declining palladium prices, and relianc…
Read the full article at: https://au.investing.com/news/stock-market-news/sibanyestillwater-faces-restructuring-and-job-cuts-amid-mixed-q3-results-93CH-3026165