Sibanye's South African PGMs output falls on power curtailments, copper cable theft

Battery and precious metals producer Sibanye-Stillwater has maintained its full-year production guidance for its South African platinum group metals (PGMs) operations at between 1.75-million and 1.8-million ounces of platinum, palladium, rhodium and gold (4E), despite third-quarter production having decreased by 14% year-on-year.

The miner on November 3 reported that its South African PGM operations had been negatively impacted on in the third quarter, ended September 30, by unprecedented power curtailment imposed by power utility Eskom, as well as increased copper cable theft.

In addition, reduced output had been planned at the Siphumelele shaft owing to increased levels of seismicity.