By Jaime Llinares Taboada
Sibanye-Stillwater Ltd. said Wednesday that its production increased in the second half of the year, with South African platinum group metals and gold output jumping above full-year guidance.
The Johannesburg- and New York-listed miner reported platinum group production, or PGM, in South Africa of 918,678 ounces for the six months ended Dec. 31, 40% higher than in the first half when operations were disrupted by coronavirus restrictions. Full-year production of 1.58 million ounces was well above guidance of 1.35 million-1.45 million ounces.
The U.S. business achieved PGM production of 603,066 ounces over the full-year, missing guidance of 620,000-650,000 ounces. Second-half output was 3% higher than in January-June.
As for gold mining, Sibanye said production of 809,941 ounces beat the guidance of 756,000-788,000 ounces, with output growing 48% in the second half.
"In the absence of unexpected disruptions, the group is well positioned to deliver a much more consistent and significantly improved operating result for 2021," Chief Executive Neal Froneman said.
Shares in Johannesburg at 1250 GMT were up 0.4% at ZAR62.14.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
01-20-21 0833ET