Multinational mining and metals processing group Sibanye-Stillwater expects to report a loss a share of between R2.45 ($0.13) and R2.71 ($0.15) for the financial year ended December 31, which would be an improvement of between 80% and 82% on the loss a share of R13.34 ($0.72) reported for the 2023 financial year.

The group, which will publish its results on February 21, notes that the improvement was mainly driven by a profit realised in the second half of the 2024 financial year.

It further points out that its earnings a share for the financial year were significantly impacted on by a further R8.79-billion ($501-million) impairment of property, plant and equipment from the US platinum group metal (PGM) operations, primarily owing to lower medium- to long-term forecast consensus palladium price assumptions, the restructuring undertaken during the fourth quarter of 2024 resulting in the suspension of operations at the Stillwater West mine and reduced mining at the East Boulder mine, lowering production guidance for this year by about 200 000 oz of platinum and palladium relative to 2024 guided production.

Meanwhile, headline earnings per share (HEPS) for 2024, which, excludes the impairment, are expected to be between 63c ($0.03) and 67c ($0.04), compared with HEPS for 2023 of 63c ($0.03). Compared to the previous year, this range represents an improvement of between 0% and 7% in HEPS.

PRODUCTION
The group reports that production from all group operations was within guidance, except for the US PGM operations, where output was marginally below guidance and the Century operation, in Australia,

PGM production from the South African PGM operations of 1.83-million ounces of platinum, palladium, rhodium and gold was 4% higher year-on-year.

Production from the South African managed gold operations, excluding DRDGOLD, declined by 16% to 16 896 kg (543 218 oz) for 2024, mainly owing to the closure of the Kloof 4 shaft and increased seismic activity at the Driefontein and Kloof operations, respectively.

In the European region, the Sandouville nickel refinery produced 7 705 t of nickel for 2024. Production was 8% higher year-on-year due to improved plant stability and lower maintenance downtime. 

In the Australian region, the Century zinc tailings retreatment operation produced 82 000 t of payable zinc metal for 2024.