South African Platinum Miners Surge as Metal Prices Pick Up [BNN Bloomberg (Canada)]
D/B/A Sibanye-Stillwater Limited ADS (SBSW)
Company Research
Source: BNN Bloomberg
Sibanye Stillwater Ltd., Impala Platinum Holdings Ltd., Anglo American Platinum Ltd. and Northam Platinum Ltd. rallied at least 12% in Johannesburg. The moves come as platinum and palladium round out big weekly gains — with palladium hitting the highest since April — and after Sibanye on Thursday said it will likely cut US platinum-group metals production by up to 45%. PGM miners have been slashing costs in response to slumping prices – which they have attributed to destocking by manufacturers and a subdued global economy – by trimming their workforces and shelving expansion projects. Palladium and platinum — which are used in autocatalysts to curb emissions — have jumped 16% and 8% this week, respectively. Still, palladium is about 40% lower than it was at the start of last year, while platinum has seen a smaller drop over the period. While the production cuts at Sibanye's US mines “are welcome news for the PGM market, we don't see these cuts going far enough to re-balance fun
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SBSW
Sec Filings
- 11/13/24 - Form SC
- 11/12/24 - Form 6-K
- 11/8/24 - Form 6-K
- SBSW's page on the SEC website