Sibanye-Stillwater delivered record revenue of R90 billion ($5.5 billion) for the six months ended 30 June 2026, a 64% increase year-on-year.
The group’s adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 111% to R31.8 billion ($1.9 billion) while its net profit jumped to R18.8 billion ($1.1 billion), compared to a net loss of R3.9 billion a year earlier.
The board declared an interim dividend of R5.7 billion ($352 million), representing a 6.6% trailing 12-month yield and an 8% implied annualised yield.
Meanwhile, the company’s South African PGM operations delivered consistent production of 831,307 4E ounces, with adjusted EBITDA increasing 302% to R19.2 billion ($1.2 billion).
The SA gold operations achieved record adjusted EBITDA of R9 billion ($549 million), with sales volumes of 9,588kg (308,261oz) and a 35% increase in the average gold price.
The US PGM operations produced 137,930 2E ounces, with all-in sustaining costs (AISC) of $1,347/2Eoz remaining below the lower end of annual guidance.
The recycling operations delivered a standout performance with adjusted EBITDA of $164 million, as precious metal ounces recycled and sold increased 142% to 2.8 million ounces.
The Century operation remained profitable with adjusted EBITDA of $55 million, while the Keliber lithium project progressed from construction to commissioning, with 217.5kt of ore mined and hot commissioning of the concentrator commencing.
The group confirmed positive investment decisions for Burnstone (adding over 130,000ozpa gold) and Mt Lyell (adding approximately 26ktpa copper), alongside four SA PGM brownfields projects already in execution.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
