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Sibanye reports lower FY earnings

19th February 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Dual-listed Sibanye Gold on Thursday posted a decline in earnings for the year ended December 31.

The gold miner’s headline earnings declined from R2.3-billion in 2013 to R1.4-billion in the year under review.

Sibanye’s headline earnings a share fell to 170c in the 12 months to December, from 355c the year before, while earnings a share contracted, from 260c in 2013, to 186c.

Net operating profit remained steady at R4.2-billion, with Sibanye’s profit for the period contracting from R1.6-billion in 2013 to R1.5-billion in 2014.

Revenue increased to R21.7-billion in the year under review, compared with R19-billion the year before.

Sibanye, which declared a dividend of 112c for the 2014 financial year, maintained its targeted production guidance, with output of 1.59-million ounces of gold reported during the year under review.

“This is despite the loss of over 16 100 oz due to an underground fire at Driefontein early in the year and persistent Eskom load shedding in the latter half of the December 2014 quarter, the company pointed out.

Sibanye reported a total cash cost for the year of $849/oz and an all-in sustaining cost of $1 071/oz – both in line with the company’s guidance.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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