Sibanye Stillwater Limited: Operating Update for the Quarter ended 31 March 2021
(firmenpresse) -
Johannesburg, 6 May 2021: Sibanye Stillwater Limited (Sibanye-Stillwater or the Group) (JSE: SSW & NYSE: SBSW - https://www.commodity-tv.com/ondemand/companies/profil/sibanye-stillwater-ltd/) is pleased to provide an operating update for the quarter ended 31 March 2021 (Q1 2021). Financial results are only provided on a six-monthly basis.
SALIENT FEATURES - QUARTER ENDED 31 MARCH 2021 (Q1 2021) COMPARED TO QUARTER ENDED 31 MARCH 2020 (Q1 2020)
- Record quarterly financial performance - 78% increase in adjusted EBITDA3 to R19.8 billion (US$1.3 billion)
- Solid operational results from all segments - pre-COVID (Q1 2020) production levels exceeded
o 9% increase from the US PGM operations to 154,350 2E oz
o 6% increase from the SA PGM operations to 444,609 4E oz
o 5% increase from the SA gold operations to 249,392 oz (7,757kg)
- Precious metals fundamentals remain positive with prices well supported
- Robust Group financial position - well positioned for continued delivery of value
US dollar SA rand
Quarter ended Quarter ended
Mar Dec Mar KEY STATISTICS Mar Dec Mar
2020 2020 2021 2021 2020 2020
UNITED STATES (US)
OPERATIONS
PGM operations1,2
141, 157, 154,oz 2E PGM production2 kg 4,80 4,89 4,40
585 492 350 1 9 4
221, 240, 195,oz PGM recycling1 kg 6,08 7,46 6,89
798 037 474 0 6 9
2,05 2,03 2,12US$/2Average basket price R/2Eo 31,8 31,7 31,5
3 3 8 Eoz z 35 35 69
133. 246. 220.US$m Adjusted EBITDA3 Rm 3,29 3,85 2,05
8 9 1 2.6 4.5 8.6
30 30 23 % Adjusted EBITDA margin3% 23 30 30
894 891 920 US$/2All-in sustaining cost4R/2Eo 13,7 13,9 13,7
Eoz z 63 11 56
SOUTHERN AFRICA (SA)
OPERATIONS
PGM operations2
418, 490, 444,oz 4E PGM production2 kg 13,8 15,2 13,0
072 964 609 29 71 04
2,15 2,58 3,52US$/4Average basket price R/4Eo 52,7 40,3 33,1
8 2 4 Eoz z 22 10 92
523. 687. 1,02US$m Adjusted EBITDA3 Rm 15,2 10,7 8,04
0 8 1.4 80.3 37.3 3.1
51 62 66 % Adjusted EBITDA margin3% 66 62 51
1,08 1,16 1,32US$/4All-in sustaining cost4R/4Eo 19,7 18,1 16,7
9 0 2 Eoz z 71 02 45
Gold operations
238, 290, 249,oz Gold production kg 7,75 9,02 7,40
076 000 392 7 0 5
1,60 1,85 1,78US$/oAverage gold price R/kg 857, 932, 795,
8 8 2 z 126 341 323
73.2 183. 92.0US$m Adjusted EBITDA3 Rm 1,37 2,86 1,12
8 5.8 9.2 5.8
19 34 21 % Adjusted EBITDA margin3% 21 34 19
1,50 1,38 1,60US$/oAll-in sustaining cost4R/kg 772, 693, 741,
0 2 6 z 572 574 858
GROUP
723.1,106 1,32US$m Adjusted EBITDA3 Rm 19,8 17,2 11,1
8 .9 5.3 26.1 78.8 31.8
15.3 15.6 14.9R/US$Average exchange rate
8 1 6 using daily closing
rate
1 The US PGM operations underground production is converted to metric tonnes and kilograms, and performance is translated to SA rand (rand). In addition to the US PGM operations underground production, the operation treats recycling material which is excluded from the 2E PGM production, average basket price and All-in sustaining cost statistics shown. PGM recycling represents palladium, platinum, and rhodium ounces fed to the furnace
2 Platinum Group Metals (PGM) production in the SA operations is principally platinum, palladium, rhodium and gold, referred to as 4E (3PGM+Au), and in the US operations is principally platinum and palladium, referred to as 2E (2PGM)
3 The Group reports adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) based on the formula included in the revolving credit facility agreements for compliance with the debt covenant formula. Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Adjusted EBITDA is not a measure of performance under IFRS and should be considered in addition to and not as a substitute for other measures of financial performance and liquidity. For a reconciliation of profit(loss) before royalties and tax to adjusted EBITDA see Adjusted EBITDA reconciliation - Quarters. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue
4 See Salient features and cost benchmarks - Quarters for the definition of All-in sustaining cost (AISC)
Stock data for the quarter JSE Limited - (SSW)
ended 31 March
2021
Number of shares in Price range per R55.21 to
issue ordinary share R74.67
(high/low)
- at 31 March 2021 2,954,9Average daily volume17,440,514
75,358
- weighted average 2,936,6NYSE - (SBSW); one ADR represents
51,523 four ordinary
shares
Free Float 99% Price range per ADR US$14.30 to
(high/low) US$20.04
Bloomberg/Reuters SSWSJ/SSAverage daily volume2,977,873
WJ.J
OVERVIEW FOR THE QUARTER ENDED 31 MARCH 2021 COMPARED TO QUARTER ENDED 31 MARCH 2020
The start to the year has been extremely positive, with the operational momentum from Q4 2020 (following normalisation of the operations post COVID-19 disruptions), carrying through into 2021. Despite ongoing adherence to COVID-19 protocols - with the South African (SA) operations in particular having to manage the health and safety challenges associated with the second wave of COVID-19 infections which affected the country in January 2021 - the SA gold, SA PGM and US PGM segments, all reported higher production year-on-year#.
This positive operational performance underpinned a record quarterly financial performance, with Group adjusted EBITDA of R19,826 million (US$1,325 million) for Q1 2021 78% higher than adjusted EBITDA for Q1 2020 of R11,132 million (US$724 million), which was then a record quarter for the Group. The SA PGM operations in particular benefited from a strong operational performance and sharply higher PGM prices, delivering a 90% increase in adjusted EBITDA to R15,280 million (US$1,021 million) from R8,043 million (US$523 million) for Q1 2020.
Notably, adjusted EBITDA generated by the SA PGM operations for this quarter, is higher than the total acquisition costs of these operations, emphasising the significant return on investment already delivered and the future windfalls stakeholders can continue to expect. With the 4E PGM basket having increased further during Q2 2021, the outlook for the year is very promising.
Precious metals prices remained strong during Q1 2021, with palladium and rhodium prices again reaching record levels, supported by ongoing supply disruptions and strong physical demand. For the US PGM operations, the 2E PGM basket price averaged US$2,128/2Eoz for Q1 2021, 4% higher than for Q1 2020, with the 4E PGM basket for the SA PGM operations 59% higher year-on-year at R52,722/4Eoz (US$3,524/4Eoz) and the average rand gold price, 8% higher at R857,126/kg (US$1,782/oz).
PGM prices have risen further in Q2 2021 to date, with the gold price remaining firm. PGM markets remain tight with the fundamental outlook for these metals positive. In the medium term, the roll out of COVID-19 vaccines across the globe continues and stimulus measures drive global economic recovery. Longer term our PGMs and green metals are expected to continue to play a critical role as global sentiment shifts towards a more environmentally conscious future.
As a consequence of our rapid growth in the PGM industry along with the significant outperformance of PGM prices relative to most commodities in recent years, the PGM operations contribution to the Groups financial performance is predominant. We therefore continue to seek more balance in our portfolio by advancing our green metals strategy, with our first investment into the Keliber lithium project in Finland in March 2021, and through our stated intent to grow our gold portfolio internationally. Re-balancing our investment portfolio should ensure greater earnings consistency through the cycle and create a larger, more stable investment proposition, which will be relevant to a broader and deeper pool of investors.
The Group achieved full financial deleveraging and resumed industry leading dividends during 2020. Given a stable operational outlook and favourable precious metals fundamentals, the outlook for 2021 and beyond is expected to be positive. The enlarged Group is now in a robust financial position and well positioned to continue delivering superior financial returns through the implementation of our capital allocation strategy.
It has been pleasing to see the Group successfully deliver on its vision to create superior value for all stakeholders since its inception in 2013. For shareholders specifically, exceptional value has been created both through the over 500% appreciation in the share price (20 fold increase in market capitalisation from approximately R10 billion (US$1.2 billion) on listing, to approximately R200 billion (US$15 billion) and also through the approximately R15 billion (US$1 billion) in dividends returned to shareholders over the last eight years. The total dividend of just under R11 billion (US$729 million), declared for the 2020 year alone, was greater than the Groups market capitalisation when it listed in 2013, illustrating the significant transformation the Group has undergone in the last eight years and the tangible value that has been created.
At the same time, we have been able to invest significantly in the sustainability of our operations - in SA, recently announcing investment of approximately R6.3 billion in projects at both our PGM and gold segments and in the US continuing to invest in growth at Blitz (Stillwater East). These investments will secure employment and deliver significant economic value to all stakeholders over the long term.
# The operational performance from the SA gold and PGM operations is seasonal due to the December holiday period, which affects production in the first quarter of each calendar year, hence year-on-year comparisons are made
Note: Certain information presented in this quarterly update constitutes pro forma financial information as per the JSE Listing Requirements. The responsibility for preparing and presenting the pro forma financial information, its completeness and accuracy is that of the directors of Sibanye Stillwater. The information is presented for illustrative purposes only. Because of its nature, the pro forma financial information may not fairly present the Companys financial position, changes in equity, and results of operations or cash flows. The information has not been audited or reviewed or reported on by external auditors of the Company
SAFE PRODUCTION
The health and safety of our employees remains our key priority and we remain committed to continuous improvement in health and safety at our operations.
The safe production performance from the US PGM operations for Q1 2021 improved significantly year-on-year, with a total reportable injury frequency rate (TRIFR) per million hours worked, 34% better in Q1 2021 compared to Q1 2020. The US PGM operations reported another successive, fatality free quarter.
The SA PGM operations achieved 2 million fatality free shifts on 2 March 2021 and had no fatal incidents during Q1 2021, although regressions in other safety metrics are of concern and are being prioritised.
Regrettably, we lost three of our colleagues at the SA gold operations during the quarter.
On 8 January 2021, Mr Mhlangabezi Tulumani, a Team Leader at Kloof Thuthukani shaft, was fatally injured when he fell down a development ore pass, whilst in the process of constructing a platform. Mr Tulumani was 45 years old, single and is survived by 2 children. On 11 February 2021 Mr Thamsanqa Papinyana, a Team Leader at Thuthukani shaft, was involved in a gravity related fall of ground, whilst conducting barring activities. Mr Papinyana was 51 years old and is survived by his wife and four children. On 29 March 2021, Mr Albert Mkhabela a Rock Drill Operator, at Kloof Hlalanathi shaft was involved in a seismic related fall of ground. Mr Mkhabela was 43 years old and is survived by his wife and three children. Our heartfelt condolences are extended to the families, friends and colleagues of our three deceased colleagues. All incidents have been investigated together with the relevant stakeholders and appropriate support has been provided to the families and children who will benefit from the Matshediso trust.
The roll out of COVID-19 vaccines in Montana is proceeding, with a number of employees having already been inoculated. Progress in South Africa has been slow, but is gaining momentum, and the classification of mining employees as essential workers and their inclusion in the upcoming second phase (due to commence in May 2021) of the vaccine roll out programme, is positive. We continue to offer our services and assistance with the vaccine roll out to the SA government, but to date have not received approval to do so.
OPERATING REVIEW
US PGM operations
Mined 2E PGM production for Q1 2021 of 154,350 2Eoz was 9% higher than for Q1 2020. Mined production from the Stillwater Mine (including Stillwater East (SWE)) was 92,271 2Eoz, 11% higher than for Q1 2020, with mined production from East Boulder (EB) of 62,079 2Eoz, 7% higher than for Q1 2020. Tonnes milled for Q1 2021 totaled 389,068 tonnes, 12% higher than for Q1 2020. Plant head grade of 13.5 g/t for Q1 2021 was 3% lower than for Q1 2020. Head grade challenges were largely attributed to lower than expected heading availability.
All-in sustaining cost (AISC) of US$920/2Eoz for Q1 2021 was 3% higher than for the comparable period in 2020, primarily due to higher sustaining capital expenditure of US$37 million for Q1 2021. This compares with US$23 million in sustaining capital expediture for Q1 2020. Higher royalties, insurance and taxes also contributed US$47 per ounce to the year-on-year increase, driven by higher US$ PGM prices (3E) and the previously noted increase in mine production.
Consistent with the revised SWE (Blitz) plan and to improve mining flexibility at the US PGM operations, total development increased by 37% year-on-year to 8,037 metres. Total development for SWE of 2,153 metres was 79% higher than Q1 2020.
The average 2E PGM basket price of US$2,128/2Eoz for Q1 2021, was 4% higher than for the comparable period in 2020, which, together with increased mine production from the US PGM operations resulted in adjusted EBITDA increasing by 65% to US$220 million. The recycling operation contributed US$24 million of the total. The combined EBITDA margin of 23% for Q1 2021 was lower than for Q1 2020 as a result of the larger proportionate contribution of the recycling business to adjusted EBITDA.
Given the ongoing planned rebuild of electric furnace 1 (EF1), which is ahead of schedule, recycle feed rates were reduced resulting in an inventory build-up of 553 tonnes during the quarter. Once EF1 and EF2 are running at capacity, following the rebuild during May 2021, an accelerated feed of the recycled inventory is expected, yielding a concomitant reduction in this readily available and liquid inventory. This is anticipated from June 2021 onwards and should see recycle inventory being drawn down to a more normalised level of 200 - 300 tonnes. Recycle advances amounted to US$731 million at the end of the quarter, generating a positive net-interest carry well above current balance sheet interest rates.
SA PGM operations
The SA PGM operations delivered another very solid operating performance, which together with a higher 4E PGM basket price, resulted in another record financial result from the segment.
4E PGM production of 444,609oz for Q1 2021 was 6% higher than for the comparable period in 2020. AISC of R19,771/4Eoz (US$1,322/4Eoz) was 18% higher than for Q1 2020, primarily due to significantly higher cost of purchasing concentrate (PoC) from third parties. The processing of PoC contributed R350 million (US$23 million) at a margin of 22% to the Marikana adjusted EBITDA. Adjusting for these higher PoC costs, AISC of the underlying operations are R17,738/4Eoz (US$1,186/4Eoz). Higher royalty taxes added R1,151/4Eoz (US$77/4Eoz) to AISC compared with Q1 2020, due to the higher PGM prices.
The average 4E PGM basket price of R52,722/4Eoz (US$3,524/4Eoz) for Q1 2021 was 59% higher than for Q1 2020, primarily due to due to a significant increase in the rhodium price (up 127% year-on-year) and the platinum price (up 28% year-on-year).
As a result of higher production and the significant increase in the 4E PGM basket price, adjusted EBITDA increased by 90% to R15,280 million (US$1,021 million) from R8,043 million (US$523 million) for Q1 2020, which was a record at the time. The adjusted EBITDA margin for Q1 2021 increased to 66% from 51% for the comparable period in 2020.
4E PGM production from the Rustenburg operation was 2% higher than for Q1 2020 at 156,956 4Eoz, with an increase in production from surface sources, offsetting marginally lower underground production. AISC from the Rustenburg operations increased by 4% to R19,002/4Eoz (US$1,270/4Eoz), year-on-year, despite the impact of higher royalties and taxes (due to the significantly improved margins) and above inflation electricity price increases, with an improvement in plant recoveries an offsetting factor.
The Kroondal operation continued to perform steadily, with 4E PGM production of 53,046 4Eoz for Q1 2021, 1% lower than comparable period in 2020. Despite marginally lower production and inflation increases, AISC of R12,137/4Eoz (US$811/4Eoz), was 4% lower than for the comparable period in 2020.
4E PGM production from the Marikana operation of 193,995 4Eoz for Q1 2021, was 13% higher than for the comparable period in 2020. Production from underground was 7% higher and production from surface sources and third party processing 66% higher. The increase in surface production is primarily due to an increase in processing of third party concentrate, with 4E PGM production from PoC increasing by 140% year-on-year to 19,125 4Eoz for Q1 2021. AISC of R23,000/4Eoz (US$1,537/4Eoz) reflect the additional cost of purchasing this concentrate from third parties at higher prevailing PGM prices. AISC from Marikana excluding third party PoC costs were R18,755/4Eoz (US$1,254/4Eoz) for Q1 2021.
The Mimosa operation continued to perform steadily, with attributable 4E PGM production of 29,878 4Eoz, 4% higher than for Q1 2020, and AISC of R13,401/4Eoz (US$896/4Eoz) 6% higher than the comparable period in 2020.
Chrome sales for Q1 2021 of approximately 370,000 tonnes were significantly lower than for Q1 2020 (approximately 507,0000 tonnes) due to a slow start up of operations and logistical issues in March which resulted in no chrome sales from the Rustenburg operation. Chrome revenue was R347 million (US$23 million) for Q1 2021, 7% higher than the Q1 2020 chrome revenue of R324 million (US$21 million), due to an increase in the chrome price from $128/tonne for Q1 2020 to $162/tonne for Q1 2021.
SA gold operations
Production from the SA gold operations for Q1 2021 of 7,757kg (249,392oz) was 5% higher than for Q1 2020 and reflected the return to normalised production levels in November 2020, following the COVID-19 disruptions that year. AISC of R772,572/kg (US$1,606/oz) was 4% higher than for the comparable period in 2020.
Underpinned by this stable operational performance and combined with a 8% increase in the average gold price year on year to R857,126/kg (US$1,782/oz), adjusted EBITDA from the SA Gold operations of R1,376 million (US$92 million) for Q1 2021, was 22% higher than for the comparable period in 2020.
Underground production from the Driefontein operation increased by 18% to 2,220kg (71,375oz) year-on-year. The average yield from underground production was 14% higher than the previous period due to higher face grades and an improvement in mining quality, with the mine call factor improving by 7% on the previous comparable period in 2020. AISC of R731,851/kg (US$1,522/oz) was 7% lower than for Q1 2020 primarily as a result of the increase in gold sold.
Production of 2,010kg (64,623oz) from the Kloof underground operations was similar to Q1 2020, with improved underground throughput offsetting a lower underground yield. The underground operations were affected by safety stoppages and seismicity during the period, which temporarily restricted access to some higher grade areas. Production from surface sources of 487kg (15,657oz), was 25% higher year-on-year. Some surface sources from Kloof were toll treated at the Driefontein and Ezulwini metallurgical plants. AISC of R844,744/kg (US$1,756/oz) was 4% higher than for Q1 2020, primarily due to increased throughput of lower grade material.
Underground production from the Beatrix operation of 1,317kg (42,342oz), was 11% lower than for Q1 2020, primarily due to a slower than anticipated start-up post the December break, safety stoppages and temporary damage to infrastructure at Beatrix 4 shaft relating to a mud rush, which has since been repaired. Beatrix employs a higher proportion of foreign nationals (primarily from Lesotho) than the other operations, with COVID-19 related restrictions at border posts, affecting the return to work after the December break. Gold production from surface sources increased to 61kg (1,961oz) due to the higher gold price, which reduced the pay limits for surface sources, making it viable to utilise existing milling capacity to process lower grade surface material. AISC of R882,082/kg (US$1,834/oz) was 18% higher than for Q1 2020, primarily due to lower production.
Surface gold production from Cooke operations decreased by 6% to 280kg (9,002oz) mainly due to an expected decrease in grades. Care and maintenance costs at Cooke operations was in line with Q1 2020 at R136 million (US$9 million).
DRDGOLD delivered another consistent operating performance, with production of 1,382kg (44,432oz) for Q1 2021, 3% higher than for Q1 2020. AISC costs of R648,129/kg (US$1,348/oz) were 12% higher than for Q1 2020.
OPERATING GUIDANCE FOR 2021
The 2021 annual guidance provided to the market in February 2021 remains unchanged except for the SA PGM project capital for the year. Four-year production and AISC guidance for the three segments were shared in the 2020 year-end presentation slides on 18 February 2021, please refer to https://www.sibanyestillwater.com/news-investors/reports/quarterly/2020/.
Mined 2E PGM production from the US PGM operations for 2021 is forecast to be between 660,000 2Eoz and 680,000 2Eoz, with AISC of between US$840/2Eoz to US$860/2Eoz. Capital expenditure is forecast to be between US$300 million and US$320 million, approximately 60% of which is growth capital in nature.
4E PGM production from the SA PGM operations for 2021 is forecast to be between 1,750,000 4Eoz and 1,850,000 4Eoz with AISC between R18,500/4Eoz and R19,500/4Eoz (US$1,230/4Eoz and US$1,295/4Eoz). Capital expenditure is forecast at R 3,800 million (US$253 million) with levels for 2021 elevated due to carry-over of approximately R800 million (US$53 million) of capital from 2020 which was unspent due to the COVID-19 disruptions. In addition, R408 million (US$27 million) of project capital expenditure is expected to be spend in terms of the K4 and Klipfontein projects for the year.
Gold production from the SA gold operations for 2021 (excluding DRDGOLD) is forecast at between 27,500kg (884,000oz) and 29,500kg (948,000oz) with AISC between R760,000/kg and R815,000/kg (US$1,576/oz and US$1,690/oz). Capital expenditure is forecast at R4,025 million (US$268 million), including carry-over of approximately R400 million (US$27 million) from 2020 which was unspent due to the COVID-19 disruptions. R425 million (US$28 million) of project capital expenditure has been provided for.
The dollar costs are based on an average exchange rate of R15.00/US$.
NEAL FRONEMAN
CHIEF EXECUTIVE OFFICER
SALIENT FEATURES AND COST BENCHMARKS - QUARTERS
US and SA PGM operations
US SA OPERATIONS
OPE
RATI
ONS
TotaTotaTotal SA RustenMarikaKrooPlaMimo
l l PGM burg na ndalt sa
SA US 2 2 Mi
and PGM le
US
PGMStil
opelwat
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Attributable UndeTotUndeSurUndSurUndSurAttrSurAttr
r - al r- facer-facer-facibutfacibut
gro e e e ablee able
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1 nd und und
Production
Tonnes 000''t Mar 9,3 389 8, 4,2 4, 1, 1, 1, 89 830 2, 348
milled/tr 2019 93019 7115053305362 489
eated 21
Dec 10, 389 9, 4,7 4, 1, 1, 1, 92 912 2, 354
20061 67248 9246863617967 636
20
Mar 8,2 347 7, 4,1 3, 1, 1, 1, 81 841 1, 342
2037 89049 7414801474869 775
20
Plant g/t Mar 2.4 13. 2. 3.3 0. 3. 1. 3. 0. 2.3 0. 3.6
head 209 54 01 4 81 24 11 89 88 8 63 0
grade 21
Dec 2.5 13. 2. 3.3 0. 3. 1. 3. 0. 2.5 0. 3.6
202 75 06 7 80 45 02 69 87 0 67 2
20
Mar 2.7 13. 2. 3.4 0. 3. 1. 3. 0. 2.3 0. 3.5
201 92 22 1 89 56 02 79 86 9 83 8
20
Plant % Mar 80. 90. 77 85. 47 88 37 85 43 83. 21 74.
recoverie 2029 07 .2226 .66.79.42.34.7152 .2918
s 21
Dec 79. 91. 76 84. 42 87 40 84 43 83. 21 74.
2067 21 .4888 .53.88.65.75.0137 .8387
20
Mar 77. 90. 74 83. 35 84 29 84 45 82. 19 73.
2098 12 .3847 .98.62.86.82.3072 .5810
20
Yield g/t Mar 2.0 12. 1. 2.8 0. 2. 0. 3. 0. 1.9 0. 2.6
200 20 55 5 39 88 42 32 38 9 13 7
21
Dec 2.0 12. 1. 2.8 0. 3. 0. 3. 0. 2.0 0. 2.7
200 54 58 6 34 03 41 13 37 8 15 1
20
Mar 2.1 12. 1. 2.8 0. 3. 0. 3. 0. 1.9 0. 2.6
201 54 65 5 32 01 30 21 39 8 16 2
20
PGM 4Eoz - Mar 598 154 44 385 58 13 17 16 30 53, 10 29,
productio 2Eoz 20,959,3504,6,935,679,1,763,8,17046 ,73878
n 21 09 4 94 2 17 8 4
3,8
Dec 648 157 49 436 54 16 18 18 23 61, 12 30,
20,456,4920,9,802,164,3,140,4,62113 ,39845
20 64 2 45 3 99 2 7
Mar 559 141 41 379 38 14 11 15 18 53, 9, 28,
20,657,5858,0,345,723,3,233,7,22458 272777
20 72 7 35 3 75 2
PGM sold 4Eoz - Mar 596 129 46 438 27 16 16193,78 53, 10 27,
2Eoz 20,486,9006,5,882,704,6,973 046 ,73364
21 86 4 89 0 4
Dec 607 166 44 413 27 12 14189,09 61, 12 42,
20,460,4301,0,733,290,8,905 113 ,39667
20 30 7 58 0 7
Mar 614 91, 52 501 21 18 11231,17 53, 9, 28,
20,818975 2,8,830,018,4,748 458 272777
20 43 3 17 1
Price and
costs
4
Average R/4Eoz Mar 47, 31, 52 54, 44 52 3153,663 58, 37 38,
PGM - 20954 835 ,72025 ,13,98,11 377 ,94383
basket R/2Eoz21 2 2 2 4 4
price
5
Dec 37, 31, 40 41, 35 41 2939,741 44, 33 33,
20783 735 ,31053 ,03,04,82 648 ,00237
20 0 7 9 2 0
Mar 32, 31, 33 33, 29 33 2332,954 36, 27 28,
20937 569 ,19574 ,42,56,25 011 ,90924
20 2 2 3 4 1
US$/4EoMar 3,2 2,1 3, 3,6 2, 3, 2,3,587 3,9 2, 2,5
z - 2005 28 52411 950542080 02 53666
US$/2E21
oz
Dec 2,4 2,0 2, 2,6 2, 2, 1,2,546 2,8 2, 2,1
2020 33 58230 244630910 60 11429
20
Mar 2,1 2,0 2, 2,1 1, 2, 1,2,143 2,3 1, 1,8
2042 53 15883 913182512 41 81481
20
Operating R/t Mar 1,0 5,0 90 1,9 69 1, 161,800 853 43 1,0
cost 2087 61 7 27 5813 50
6 21
Dec 979 5,0 80 1,6 88 1, 231,366 857 44 1,1
20 76 8 15 5405 29
20
Mar 1,0 5,0 82 1,5 75 1, 181,323 798 41 1,0
2051 65 4 60 4992 34
20
US$/t Mar 73 338 61 129 5 10 11120 57 3 70
20 6
21
Dec 63 325 52 103 6 99 1587 55 3 72
20
20
Mar 68 329 54 101 5 97 1286 52 3 67
20
20
R/4Eoz Mar 17, 12, 18 20, 5, 17 1222,533 13, 10 12,
- 20137 755 ,76948 534,09,21 351 ,04233
R/2Eoz21 8 3 1 3
Dec 15, 12, 16 17, 8, 15 1718,218 12, 9, 12,
20393 538 ,36483 022,80,60 793 293958
20 9 1 5
Mar 15, 12, 15 16, 7, 15 1817,731 12, 7, 12,
20028 414 ,97941 269,47,58 561 841288
20 9 4 8
US$/4EoMar 1,1 853 1, 1,4 37 1, 811,506 892 67 818
z - 2046 25500 0 1436 1
US$/2E21
oz
Dec 986 803 1, 1,1 51 1, 1,1,167 820 59 830
20 04920 4 012128 5
20
Mar 977 807 1, 1,1 47 1, 1,1,153 817 51 799
20 03901 3 006209 0
20
All-in R/4Eoz Mar 18, 13, 19 19,00223,000 12, 10 13,
sustainin - 20142 763 ,77 137 ,36401
g R/2Eoz21 1 9
cost
7
Dec 17, 13, 18 17,15320,876 13, 10 13,
20034 911 ,10 295 ,02782
20 2 7
Mar 15, 13, 16 18,25517,128 12, 8, 12,
20948 756 ,74 619 251701
20 5
US$/4EoMar 1,2 920 1, 1,270 1,537 811 69 896
z - 2013 322 3
US$/2E21
oz
Dec 1,0 891 1, 1,099 1,337 852 64 883
2091 160 2
20
Mar 1,0 894 1, 1,187 1,114 820 53 826
2037 089 6
20
All-in R/4Eoz Mar 19, 17, 19 19,00223,002 12, 10 13,
cost - 20162 523 ,77 137 ,36401
7 R/2Eoz21 2 9
Dec 17, 16, 18 17,15320,938 13, 10 13,
20817 904 ,13 295 ,02782
20 0 7
Mar 17, 18, 16 18,25517,140 12, 9, 12,
20193 322 ,78 619 566701
20 2
US$/4EoMar 1,2 1,1 1, 1,270 1,538 811 69 896
z - 2081 71 322 3
US$/2E21
oz
Dec 1,1 1,0 1, 1,099 1,341 852 64 883
2041 83 161 2
20
Mar 1,1 1,1 1, 1,187 1,114 820 62 826
2018 91 091 2
20
Capital
expenditu
re
4
Ore Rm Mar 656 305 35 146.1 204.9 - - -
reserve 20.5 .5 1.0
developme 21
nt
Dec 701 320 38 151.4 230.1 - - -
20.6 .1 1.5
20
Mar 608 264 34 144.1 199.0 - - -
20.0 .9 3.1
20
Sustaining Mar 499 250 24 111.8 95.6 35. 6. 113
capital 20.2 .2 9.0 3 0 .9
21
Dec 744 254 49 130.8 260.5 88. 10 129
20.3 .0 0.3 6 .4 .1
20
Mar 311 86. 22 97.6 86.4 40. 0. 76.
20.9 7 5.2 4 6 9
20
Corporate Mar 580 580 - - - - - -
and 20.4 .4
projects 21
Dec 471 471 - - - - - -
20.3 .3
20
Mar 658 646 12 - - - 12 -
20.6 .4 .2 .2
20
Total Rm Mar 1,7 1,1 60 257.9 300.5 35. 6. 113
capital 2036.136.10.0 3 0 .9
expenditu 21
re
Dec 1,9 1,0 87 282.2 490.6 88. 10 129
2017.245.41.8 6 .4 .1
20
Mar 1,5 998 58 241.7 285.4 40. 12 76.
2078.5.0 0.5 4 .8 9
20
US$m Mar 116 75. 40 17.2 20.1 2.4 0. 7.6
20.0 9 .1 4
21
Dec 122 67. 55 18.1 31.4 5.7 0. 8.3
20.8 0 .9 7
20
Mar 102 64. 37 15.7 18.6 2.6 0. 5.0
20.6 9 .7 8
20
Average exchange rates for the quarters ended 31 March 2021, 31 December 2020 and 31 March 2020 R14.96/US$, R15.61/US$ and R15.38/US$, respectively
Figures may not add as they are rounded independently
1 The US PGM operations underground production is converted to metric tonnes and kilograms, and performance is translated into rand. In addition to the US PGM operations underground production, the operation treats various recycling material which is excluded from the statistics shown above and is detailed in the PGM recycling table below
2 The Marikana AISC and AIC includes the purchase of concentrate (PoC) cost from third parties. For a reconciliation of the AISC and AIC excluding PoC refer to Reconciliation of AISC and AIC excluding PoC for SA PGM and Marikana - Quarters
3 Production per product - see prill split in the table below
4 The Group and total SA PGM operations unit cost benchmarks and capital expenditure exclude the financial results of Mimosa, which is equity accounted and excluded from revenue and cost of sales
5 The average PGM basket price is the PGM revenue per 4E/2E ounce, prior to a purchase of concentrate adjustment
6 Operating cost is the average cost of production and operating cost per tonne is calculated by dividing the cost of sales, before amortisation and depreciation and change in inventory in a period by the tonnes milled/treated in the same period, and operating cost per ounce (and kilogram) is calculated by dividing the cost of sales, before amortisation and depreciation and change in inventory in a period, by the PGM produced in the same period
7 All-in cost is calculated in accordance with the World Gold Council guidance. All-in cost excludes income tax, costs associated with merger and acquisition activities, working capital, impairments, financing costs, one-time severance charges and items needed to normalise earnings. All-in cost is made up of All-in sustaining cost, being the cost to sustain current operations, given as a sub-total in the All-in cost calculation, together with corporate and major capital expenditure associated with growth. All-in sustaining cost per ounce (and kilogram) and All-in cost per ounce (and kilogram) are calculated by dividing the All-in sustaining cost and All-in cost, respectively, in a period by the total 4E/2E PGM produced in the same period. For a reconciliation of cost of sales before amortisation and depreciation to All-in costs, see All-in costs - Quarters
8 The Marikana PGM production includes the processing of 19,125 4Eoz, 12,439 4Eoz and 7,967 4Eoz third party concentrate purchases for the quarters ended 31 March 2021, 31 December 2020 and 31 March 2020, respectively
Mining - PGM Prill split excluding recycling operations
GROUP SA OPERATIONS US OPERATIONS
Mar Dec Mar Mar Dec Mar Mar Dec Mar
2021 2020 2020 2021 2020 2020 2021 2020 2020
% % % % % % % % %
Platinum 29950 3250% 2850% 2660 29592460 3423 3522% 3122
,695% 6,8 1,2 4,7% 1,4% 9,% ,98% ,42 ,79%
98 09 12 73 41 3 5 4
5
Palladiu 25142 2642% 2342% 1330 14301230 1177 1278% 1078
m ,570% 9,6 4,3 2,2% 7,6% 4,% 9,3% 2,0 9,7%
90 37 03 23 54 67 67 91
6
Rhodium 38,6% 416% 367% 388% 419%368%
485 ,76 ,16 ,48 ,76 ,1
5 0 5 5 60
Gold 9,22% 102% 7,1% 9,2% 102%7,2%
09 ,10 951 209 ,10 95
3 3 1
PGM 59810 64100 55100 4410 49104110 1510 15100 1410
product,9590%8,4% 9,6% 4,60%0,90%8,0%4,30%7,4% 1,50%
ion 56 57 09 64 07 50 92 85
4E/2E 2
Rutheniu 60, 65 58 60 65 58
m 996 ,45 ,90 ,99 ,45 ,9
4 8 6 4 08
Iridium 15, 16 14 15 16 14
436 ,21 ,50 ,43 ,21 ,5
4 6 6 4 06
Total 675 73 63 52 57 49 15 15 14
6E/2E ,391 0,1 3,0 1,0 2,6 1, 4,3 7,4 1,5
24 71 41 32 48 50 92 85
6
Recycling operation
Unit Mar Dec Mar 2020
2021 2020
Average catalyst Tonne 23.8 30.5 28.0
fed/day
Total processed Tonne 2,139 2,803 2,547
Tolled Tonne 14 83 262
Purchased Tonne 2,125 2,721 2,285
PGM fed 3Eoz 195,4 240,03 221,798
74 7
PGM sold 3Eoz 218,4 206,11 133,714
50 5
PGM tolled 3Eoz 9,203 12,370 31,062
returned
SA gold operations
SA OPERATIONS
Total SA gold DriefontKloof Beatrix Cooke DRDG
ein OLD
TotaUnderSurfUndeSurfUndeSurfUndeSurfUndeSurfSurf
l - ace r- ace r- ace r- ace r- ace ace
groun grou grou grou grou
d nd nd nd nd
Productio
n
Tonnes 00Mar 11, 1,20 9,9 338 - 429 1,3 439 198 - 1,1 7,2
milled/t0'' 202150 6 44 31 43 72
reated t 1
Dec 11, 1,26 9,9 373 - 478 1,4 414 234 - 1,1 7,0
202170 5 05 11 87 73
0
Mar 9,8 1,19 8,7 325 - 414 1,0 452 7 - 1,0 6,5
20294 1 03 64 72 60
0
Yield g/Mar 0.7 4.60 0.2 6.5 - 4.6 0.3 3.0 0.3 - 0.2 0.1
t 2020 2 7 9 7 0 1 4 9
1
Dec 0.8 5.22 0.2 6.7 - 5.4 0.3 3.5 0.3 - 0.2 0.2
2021 4 2 6 9 7 7 7 1
0
Mar 0.7 4.51 0.2 5.7 - 4.8 0.3 3.2 0.2 - 0.2 0.2
2025 3 7 5 7 9 9 8 1
0
Gold kgMar 7,7 5,54 2,2 2,2 - 2,0 487 1,3 61 - 280 1,3
produced 20257 7 10 20 10 17 82
1
Dec 9,0 6,59 2,4 2,5 - 2,6 545 1,4 86 - 320 1,4
20220 9 21 07 12 80 70
0
Mar 7,4 5,36 2,0 1,8 - 2,0 391 1,4 2 - 297 1,3
20205 9 36 75 07 87 46
0
ozMar 249 178, 71, 71, - 64, 15, 42, 1,9 - 9,0 44,
202,392340 052 375 623 657 342 61 02 432
1
Dec 290 212, 77, 80, - 83, 17, 47, 2,7 - 10, 47,
202,000163 837 602 978 522 583 65 288 262
0
Mar 238 172, 65, 60, - 64, 12, 47, 64 - 9,5 43,
202,076617 459 283 526 571 808 49 275
0
Gold soldkgMar 7,5 5,34 2,1 2,2 - 1,9 479 1,1 61 - 285 1,3
20236 8 88 04 66 78 63
1
Dec 8,9 6,58 2,3 2,5 - 2,5 505 1,4 93 - 265 1,4
20233 6 47 51 36 99 84
0
Mar 7,5 5,42 2,1 1,8 - 1,9 404 1,5 4 - 296 1,4
20290 4 66 53 77 94 62
0
ozMar 242 171, 70, 70, - 63, 15, 37, 1,9 - 9,1 43,
202,287942 345 860 208 400 874 61 63 821
1
Dec 287 211, 75, 82, - 81, 16, 48, 2,9 - 8,5 47,
202,203745 458 017 534 236 194 90 20 712
0
Mar 244 174, 69, 59, - 63, 12, 51, 129 - 9,5 47,
202,024385 639 575 562 989 248 17 004
0
Price
and
costs
Gold R/Mar 857 855,399 858,364 853,592 870,526 858
price kg 202,126 ,107
received 1
Dec 932 934,379 928,182 921,043 937,736 948
202,341 ,518
0
Mar 795 768,484 770,727 781,977 757,432 786
202,323 ,662
0
USMar 1,7 1,778 1,785 1,775 1,810 1,7
$/ 20282 84
oz1
Dec 1,8 1,862 1,849 1,835 1,868 1,8
20258 90
0
Mar 1,6 1,554 1,559 1,581 1,532 1,5
20208 91
0
OperatingR/Mar 459 3,22 124 3,7 - 3,7 196 2,3 116 - 145 108
cost t 202 0 65 16 15
1 1
Dec 454 2,97 133 3,4 - 3,1 173 2,3 188 - 169 117
202 0 10 81 29
0
Mar 475 3,03 125 3,6 - 3,4 199 2,1 329 - 157 108
202 1 94 89 30
0
USMar 31 215 8 252 - 248 13 155 8 - 10 7
$/ 202
t 1
Dec 29 190 9 218 - 204 11 149 12 - 11 7
202
0
Mar 31 197 8 240 - 227 13 138 21 - 10 7
202
0
R/Mar 659 700, 558 573 - 793 535 771 375 - 593567,
kg 202,688090 ,281,288 ,134,524,830,410 ,929149
1
Dec 562 569, 543 507 - 582 447 651 511 - 627 562
202,262268 ,164,379 ,198,706,351,628 ,188,109
0
Mar 634 672, 534 640 - 719 541 647 1,1 - 568 524
202,490378 ,578,267 ,631,432,47850,0 ,350,220
0 00
USMar 1,3 1,45 1,1 1,1 - 1,6 1,1 1,6 781 - 1,2 1,1
$/ 20272 6 61 92 49 13 05 35 79
oz1
Dec 1,1 1,13 1,0 1,0 - 1,1 892 1,2 1,0 - 1,2 1,1
20220 4 82 11 60 98 19 50 20
0
Mar 1,2 1,36 1,0 1,2 - 1,4 1,0 1,3 2,3 - 1,1 1,0
20283 0 81 95 55 95 09 26 49 60
0
All-in R/Mar 772 731,851 844,744 882,082 658,596 648
sustainikg 202,572 ,129
ng 1
cost
2
Dec 693 665,778 727,425 782,538 693,208 617
202,574 ,183
0
Mar 741 790,772 812,516 746,621 634,459 580
202,858 ,506
0
USMar 1,6 1,522 1,756 1,834 1,369 1,3
$/ 20206 48
oz1
Dec 1,3 1,327 1,449 1,559 1,381 1,2
20282 30
0
Mar 1,5 1,599 1,643 1,510 1,283 1,1
20200 74
0
All-in R/Mar 784 731,851 865,440 882,082 658,596 648
cost kg 202,554 ,129
2 1
Dec 710 665,778 750,871 782,538 693,208 626
202,332 ,146
0
Mar 757 790,772 825,787 746,746 634,459 582
202,892 ,627
0
USMar 1,6 1,522 1,799 1,834 1,369 1,3
$/ 20231 48
oz1
Dec 1,4 1,327 1,496 1,559 1,381 1,2
20215 48
0
Mar 1,5 1,599 1,670 1,510 1,283 1,1
20233 78
0
Capital
expendit
ure
Ore RmMar 603 271.6 208.6 122.9 - -
reserve 202.1
developm 1
ent
Dec 571 233.5 233.2 104.9 - -
202.6
0
Mar 529 204.4 216.3 108.6 - -
202.3
0
Sustainin Mar 186 40.6 57.9 9.9 - 77.
g 202.2 8
capital 1
Dec 349 52.9 189.8 37.9 - 68.
202.0 4
0
Mar 215 60.9 81.5 26.2 - 47.
202.6 0
0
Corporate Mar 60. - 50.6 - - -
and 2026
projects 1
3
Dec 110 - 71.3 - - 13.
202.9 3
0
Mar 41. - 31.6 0.2 - 3.1
2029
0
Total RmMar 849 312.2 317.1 132.8 - 77.
capital 202.9 8
expendit 1
ure
Dec 1,0 286.4 494.3 142.8 - 81.
20231.5 7
0
Mar 787 265.3 329.5 135.1 - 50.
202.0 1
0
USMar 56. 20.9 21.2 8.9 - 5.2
$m 2028
1
Dec 66. 18.3 31.7 9.1 - 5.2
2021
0
Mar 51. 17.2 21.4 8.8 - 3.3
2022
0
Average exchange rates for the quarters ended 31 March 2021, 31 December 2020 and 31 March 2020 R14.96/US$, R15.61/US$ and R15.38/US$, respectively
Figures may not add as they are rounded independently
1 Operating cost is the average cost of production and operating cost per tonne is calculated by dividing the cost of sales, before amortisation and depreciation and change in inventory in a period by the tonnes milled/treated in the same period, and operating cost per kilogram (and ounce) is calculated by dividing the cost of sales, before amortisation and depreciation and change in inventory in a period by the gold produced in the same period
2 All-in cost is calculated in accordance with the World Gold Council guidance. All-in cost excludes income tax, costs associated with merger and acquisition activities, working capital, impairments, financing costs, one time severance charges and items needed to normalise earnings. All-in cost is made up of All-in sustaining cost, being the cost to sustain current operations, given as a sub-total in the All-in cost calculation, together with corporate and major capital expenditure associated with growth. All-in sustaining cost per kilogram (and ounce) and All-in cost per kilogram (and ounce) is calculated by dividing the All-in sustaining cost and All-in cost, respectively, in a period by the total gold sold over the same period. For a reconciliation of cost of sales before amortisation and depreciation to All-in costs, see All-in costs - Quarters
3 Corporate project expenditure for the quarters ended 31 March 2021, 31 December 2020 and 31 March 2020 was R10.0 million (US$0.7 million), R26.3 million (US$1.7 million) and R.7.1 million (US$0.5 million), respectively, the majority of which related to the Burnstone project and various IT projects
ALL-IN COSTS - QUARTERS
SA and US PGM operations
Figures are in millions unless otherwise stated
US SA OPERATIONS
OPE
RATI
ONS
R'' TotaTotaTotaRustMariKrooPlatMimoCorp
milli l l l enbukanandal Milsa orat
on US US SA rg 2 e e
and PGM PGM
SA 1 2
PGM
Cost of sales, Mar 9,1 1,6 7,5 2,7 3,8 764 107 371 (37
before 2033.418.015.497.445.4.8 .8 .8 1.8)
amortisation and 21
depreciation
3
Dec 8,1 2,0 6,1 2,2 2,9 832 115 564 (64
2045.807.038.878.189.8.3 .2 .6 1.2)
20
Mar 8,4 1,0 7,4 2,9 4,1 711 72. 353 (74
2075.335.839.532.518.7.2 7 .6 9.2)
20
Royalties Mar 828 - 828 439 385 3.7 - 44. (44
20.6 .6 .8 .1 4 .4)
21
Dec 794 - 794 275 515 2.8 - 55. (55
20.0 .0 .5 .7 5 .5)
20
Mar 329 - 329 288 38. 2.9 - 30. (30
20.8 .8 .2 7 9 .9)
20
Carbon tax Mar 0.7 - 0.7 0.1 0.5 0.1 - - -
20
21
Dec 0.7 - 0.7 0.1 0.5 0.1 - - -
20
20
Mar 0.2 - 0.2 0.1 - 0.1 - - -
20
20
Community costs Mar 34. - 34. 2.9 31. - - - -
202 2 3
21
Dec 27. - 27. (4. 32. - - - -
207 7 7) 4
20
Mar 19. - 19. 11. 8.8 - - - -
209 9 1
20
Inventory change4 Mar 842 350 492 (91 583 - - (6. 6.3
20.9 .7 .2 .5) .7 3)
21
Dec 1,6 (32 1,6 782 809 - - (16 241
2035.9.3) 68.2.5 .1 4.9).5
20
Mar (30 721 (1, (41 (1, - - - 395
204.2).9 026.8.8)003. .7
20 1) 0)
Share-based Mar 27. 15. 11. 4.6 5.6 1.7 - - -
payments 205 6 9
5 21
Dec 31. 18. 13. 5.3 5.9 2.0 - - -
203 1 2
20
Mar 15. 15. - - - - - - -
202 2
20
Rehabilitation Mar 69. 7.8 61. 0.8 42. 18. - 0.8 (0.
interest and 205 7 7 2 8)
amortisation 21
6
Dec 76. 6.9 69. 4.0 39. 25. - 0.8 (0.
203 4 9 5 8)
20
Mar 61. 6.2 54. (0. 36. 18. - 1.4 (1.
200 8 6) 5 9 4)
20
Leases Mar 14. 0.4 13. 3.6 8.1 2.2 - - -
203 9
21
Dec 15. 0.7 15. 3.6 9.4 2.2 - - -
209 2
20
Mar 17. 1.6 16. 3.6 9.3 3.2 - - -
207 1
20
Ore reserve Mar 656 305 351 146 204 - - - -
development 20.5 .5 .0 .1 .9
21
Dec 701 320 381 151 230 - - - -
20.6 .1 .5 .4 .1
20
Mar 608 264 343 144 199 - - - -
20.0 .9 .1 .1 .0
20
Sustaining capital Mar 499 250 249 111 95. 35. 6.0 113 (11
expenditure 20.2 .2 .0 .8 6 3 .9 3.6)
21
Dec 744 254 490 130 260 88. 10. 129 (12
20.3 .0 .3 .8 .5 6 4 .1 9.1)
20
Mar 311 86. 225 97. 86. 40. 0.6 76. (76
20.9 7 .2 6 4 4 9 .7)
20
Less: By-product Mar (1, (42 (1, (43 (74 (18 (2. (12 124
credit 20782.3.9)358.3.2)1.0)2.2)5) 4.2).2
21 8) 9)
Dec (1, (38 (1, (49 (63 (14 (1. (16 161
20653.3.6)269.6.4)2.1)1.0)3) 0.0).0
20 4) 8)
Mar (1, (18 (88 (23 (54 (10 3.2 (97 97.
20068.4.6)3.4)6.1)8.4)2.1) .3) 3
20 0)
Total Mar 10, 2,1 8,1 2,9 4,4 643 111 400 (40
All-in-sustaining 20324.24.399.782.461.9.8 .3 .4 0.1)
costs 21 0
7
Dec 10, 2,1 8,3 3,1 4,2 812 124 425 (42
20520.90.929.230.261.2.5 .3 .1 4.1)
20 1
Mar 8,4 1,9 6,5 2,8 2,9 674 76. 365 (36
2066.847.719.121.746.0.6 5 .5 5.2)
20
Plus: Corporate Mar 580 580 0.4 - 0.4 - - - -
cost, 20.8 .4
21
growth and capital
expenditure
Dec 484 471 12. - 12. - - - -
20.0 .3 7 7
20
Mar 660 646 14. - 2.1 - 12. - -
20.7 .4 3 2
20
Total All-in-costs7 Mar 10, 2,7 8,2 2,9 4,4 643 111 400 (40
20904.04.700.182.462.3.8 .3 .4 0.1)
21 8
Dec 11, 2,6 8,3 3,1 4,2 812 124 425 (42
20004.62.241.930.273.9.5 .3 .1 4.1)
20 1
Mar 9,1 2,5 6,5 2,8 2,9 674 88. 365 (36
2027.594.133.421.748.1.6 7 .5 5.2)
20
PGM production 4Eoz Mar 598 154 444 156 193 53, 10, 29, -
- 20,959,350,609,956,995046 734 878
2Eoz 21
Dec 648 157 490 182 204 61, 12, 30, -
20,456,492,964,488,121113 397 845
20
Mar 559 141 418 154 171 53, 9,2 28, -
20,657,585,072,568,997
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Datum: 06.05.2021 - 04:37 Uhr
Sprache: Deutsch
News-ID 1566878
Anzahl Zeichen: 4972
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"Sibanye Stillwater Limited: Operating Update for the Quarter ended 31 March 2021
"
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