Sibanye Stillwater's South Africa restructure could cut 4,000 jobs [Seeking Alpha]
D/B/A Sibanye-Stillwater Limited ADS (SBSW)
Company Research
Source: Seeking Alpha
Sibanye Stillwater ( SBSW ), which suffered a $2B loss in FY 2023 on the back of weak metal prices, said the restructuring was needed to reduce losses at its Beatrix 1 shaft, which has delivered lower than expected production, and its Kloof 2 plant, where processing material has been insufficient since the Kloof 4 shaft was closed last year. The miner already had cut about 2,000 jobs in its platinum group metal operations following the restructure of loss-making shafts following sharply lower metal prices last year. While gold prices have been rising recently, platinum prices have plunged, squeezing miners particularly in South Africa where the rand was one of the worst performing currencies of 2023. Recommended For You More Trending News Recommended For You More Trending News About SBSW Stock Related Stocks Trending Analysis Trending News
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News
- Institutions own 26% of DRDGOLD Limited (NYSE:DRD) shares but public companies control 50% of the company [Yahoo! Finance]Yahoo! Finance
- Sibanye Stillwater Stock (NYSE:SBSW): Two-Pronged Approach to Precious Metals [Yahoo! Finance]Yahoo! Finance
- Sibanye Stillwater: The Tide May Be Turning [Seeking Alpha]Seeking Alpha
- Impala Platinum: Excellent Business At An Attractive Price At The Right Time; Rating Upgrade [Seeking Alpha]Seeking Alpha
- Gold prices hit record highs on safe-haven demand [Reuters]Reuters
SBSW
Sec Filings
- 4/26/24 - Form 6-K
- 4/26/24 - Form 20-F
- 4/26/24 - Form 6-K
- SBSW's page on the SEC website