Sibanye-Stillwater expects to report loss
JOHANNESBURG (miningweeekly.com) – Precious metals mining company Sibanye-Stillwater said on Wednesday that it expected to report an attributable loss of at least R4.6-billion for the year ending December 31, compared with attributable earnings of R3.7-billion in the comparative period last year.
The company ascribed the decrease in earnings to factors including impairments and a provision for occupational healthcare claims in the six months to June 30. Also playing a role were transaction and restructuring costs, the incorporation of newly acquired operations and a gain on acquisition which was recognised during the comparable period in 2016, as well as significant differences in commodity prices and the average rand:dollar exchange rate year-on-year.
It said that earnings per share and headline earnings per share for the period were further affected by the issuing of more than one-million new ordinary Sibanye-Stillwater shares for the $1-billion equity rights offer in June, as well as the issuing of 42 522 524 new ordinary shares as part of the capitalisation issue in October.
As a result, the group had a reasonable degree of certainty that it would report a loss per share of at least 235c a share for the 12 months to the end of December and a headline loss per share at least 110c a share.
A further trading statement with a more definitive range would be released before reporting the financial year-end results on February 22 next year.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...
VISIT SHOWROOM
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
