- Write by:
-
Thursday, March 3, 2022 - 12:38:48
-
649 Visit
-
Print
South African miner Sibanye-Stillwater reported on Thursday a stronger profit and 20% increase in South African platinum group metals (PGM) production for 2021, buoyed by a surge in commodity prices.
Sibanye’s profit increased by 13% in 2021 to 33.1 billion rand ($2.16 billion) from 29.3 billion rand in the year-ago period, in what Chief Executive Officer Neal Froneman said was a record.
At Sibanye’s South African PGM operations, production jumped to 1.9 million ounces, while all-in sustaining costs – a measure of the cost of mining – fell by 5%, against a trend of increasing costs across the mining industry.
Sibanye, which is in negotiations with unions over wages at its South African gold operations, reiterated that it has been unable to reach an agreement with organised labour representatives.
While talks with three unions are underway, the Solidarity union split from the rest on Wednesday by announcing it accepted Sibanye’s final wage offer of a 5% annual pay increase.
Short Link:
https://www.miningnews.ir/En/News/620811
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an ...
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
M23 rebels in eastern Democratic Republic of Congo have taken control of Rubaya, a key mining town for the smartphone ...
No comments have been posted yet ...