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Sibanye cuts US platinum group metals output forecast after strike

By Reuters News

Nov 5 (Reuters) - Sibanye Stillwater SSWJ.J said on Thursday it had cut its 2026 production forecast for its palladium-dominated US operations by as much as 15% following a five-week strike.

  • The US operations are now expected to produce between 245,000 and 255,000 ounces of palladium and platinum, from the previous forecast of between 280,000 and 300,000 ounces, Sibanye said in a third quarter update

  • Production from Sibanye's US operations declined 19% year-on-year to 59,417 ounces during the third quarter, mainly due to the strike, which ended on October 7

  • Sibanye's southern African platinum group metal output declined 10% year-on-year to 458,202 ounces mainly due to planned lower surface production and depleting reserves at its Kroondal operations

  • The company maintains its full-year PGM production guidance from its southern African mines of between 1.65 million and 1.75 million ounces in 2026

  • The diversified miner's gold production declined 12% to 155,449 ounces as underground production from its mature, deep mines declined 22%

  • Sibanye's group adjusted EBITDA increased 9% year-on-year to 10.8 billion rand ($661.39 million), supported by higher commodity prices


    ($1 = 16.3293 rand)

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