Sibanye-Stillwater achieves solid operational performance

In its Production update for the year ended 31 December 2020, Sibanye-Stillwater says the Group operating performance was extremely pleasing, with improved production for H2 2020, from all the operating segments, relative to H1 2020.

This solid operational performance was achieved despite the ongoing implementation and observance of COVID-19 protocols to support the health and wellbeing of our workforce and mitigate the onset of the second wave of COVID-19 infections.

PGM production from the SA PGM operations of 1.58 million 4Eoz (including attributable ounces from Mimosa), exceeded the upper limit of revised annual guidance of 1.35 – 1.45m 4Eoz by 9%, with PGM production of 918,678 4Eoz for H2 2020 40% higher than for H1 2020.

Mined PGM production from the US PGM operations of 603,066 2Eoz for 2020 was marginally below revised guidance of 620,000 – 650,000 2Eoz, primarily due to the impact of a spike in COVID-19 infections at the operations in Q4 2020, associated with the second wave of COVID-19 in Montana.

Despite the COVID-19 disruptions, H2 2020 production of 305,326 2Eoz was 3% higher than for H1 2020, with the production trend improving throughout the year.

Production from the SA Gold operations (excluding DRDGOLD) of 25,192kg (809,941oz) was 3% above revised guidance of 23,500 – 24,500kg (756,000oz – 788,000oz), with production of 12,638 kg (406,321oz) for H2 2020, 48% higher than for H1 2020.

Neal Froneman, CEO of Sibanye-Stillwater commenting on the 2020 Group production performance said: “The manner in which the initial threat of COVID-19 was handled at our operations in H1 2020 and the subsequent, safe return to normalised production levels by year-end was extremely pleasing. We continue to observe strict COVID-19 protocols at the operations as the health and safety of our employees remain our primary imperative.   In the absence of unexpected disruptions, the Group is well positioned to deliver a much more consistent and significantly improved operating result for 2021”.

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