Sibanye-Stillwater is expecting to increase its earnings per share (EPS) and headline earnings per share (HEPS) by more than 138% year-on-year, respectively, for the first half of the year ended June 30.
The interim EPS and HEPS are projected to range from R8.35 (57 US cents) to R8.52 (59 US cents) during the period under consideration, compared with EPS of R3.51 (21 US cents) and HEPS of R3.50 (21 US cents), a year earlier.
Sibanye said it delivered a solid operating performance for the six months ended 30 June 2021, which underpinned the strong financial performance, ensuring leverage to higher precious metal prices and offsetting the impact of the 13% stronger rand against the US dollar.
Its 4E PGM production from the SA PGM operations of 928,992 4Eoz was 41% higher than for the comparative period in 2020, it said.
Mined underground 4E PGM production rose 43% year-on-year, to 817,369 4Eoz, with 4E PGM production from surface 34% higher at 76,796 4Eoz and third-party purchase of concentrate treated at the Marikana smelting and refining operations, increasing by 29% to 34,827 4Eoz.
It said mined 2E PGM production from the US PGM operations of 298,301 2Eoz (H1 2020: 297,740 2Eoz) was flat year-on-year due to a 21-day safety-related work stoppage in June 2021, which reduced production by approximately 20,000 2Eoz. Recycling increased marginally to 402,872 3Eoz.
Production at the SA gold operations (including DRDGOLD) increased by 29% to 16,138 kg (518,848 oz) compared with the first half of 2020.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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