Sibanye cuts US platinum group metals output forecast after strike
Sibanye cuts US platinum group metals output forecast after strike 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)
(Reporting by Nelson Banya, Editing by Louise Heavens)
((Nelson.Banya@thomsonreuters.com;))