Sibanye Stillwater: Operating Update for the Quarter Ended 30 September 2018
(firmenpresse) - Sibanye Stillwater: Operating Update for the Quarter Ended 30 September 2018
Johannesburg, 1 November 2018: Sibanye Gold Limited trading as Sibanye-Stillwater (Sibanye-Stillwater or the Group) (JSE: SGL & NYSE: SBGL) is pleased to present an operating update for the quarter ended 30 September 2018. Financial results are only provided on a six-monthly basis.
SALIENT FEATURES FOR THE QUARTER ENDED 30 SEPTEMBER 2018
- Solid operational performance from SA and US PGM operations maintained
- collectively contributing 85% of Group adjusted EBITDA¹ during the quarter
- Financial position improved by the US$500 million Streaming transaction
- allowing for a 28% reduction in outstanding bonds (nominal value)
- majority of debt only repayable after 2021/22 when Blitz is fully ramped up
- H1 2018 safety and operational disruptions continue to impact SA gold operations
- Safety achievement by South African operations of 2.7 million fatality free shifts as at end October 2018
- Ongoing strategic delivery despite operational disruptions
US dollar SA rand
Quarter ended Quarter ended
Sep Jun Sep KEY STATISTICS Sep Jun Sep
2017 2018 2018 2018 2018 2017
SOUTHERN AFRICA (SA)
REGION
PGM operations
306, 282, 305,oz 4E PGM2 production kg 9,49 8,80 9,52
184 972 227 4 1 3
953 1,02 1,00US$/4Average basket price R/4Eo 14,0 13,0 12,5
8 0 Eoz z 49 13 51
40.6 46.9 49.5US$m Adjusted EBITDA1 Rm 695.5593.6534.8
15 16 18 % Adjusted EBITDA margin1 % 18 16 15
777 792 771 US$/4All-in sustaining cost3 R/4Eo 10,8 10,0 10,2
Eoz z 34 25 29
Gold operations4
372, 306, 308,oz Gold production kg 9,60 9,54 11,5
176 974 922 9 8 76
1,28 1,30 1,20US$/oAverage gold price R/kg 544, 531, 542,
0 7 5 z 542 640 407
104. 50.017.3 US$m Adjusted EBITDA1 Rm 243. 632. 1,37
5 1 9 7.2
22 12 5 % Adjusted EBITDA margin1 % 5 12 22
1,15 1,29 1,29US$/oAll-in sustaining cost3 R/kg 582, 526, 487,
0 5 0 z 809 833 068
UNITED STATES (US)
REGION
PGM operations5
135, 145, 139,oz 2E PGM2 production kg 4,32 4,52 4,21
585 410 178 9 3 7
197, 168, 144,oz PGM recycling5 kg 4,49 5,25 6,13
300 842 585 7 2 7
914 966 896 US$/2Average basket price R/2Eo 12,5 12,2 12,0
Eoz z 92 25 47
59.8 74.7 49.1US$m Adjusted EBITDA1 Rm 690.2945.0 788.
3
23 25 21 % Adjusted EBITDA margin1 % 21 25 23
695 674 769 US$/2All-in sustaining cost3 R/2Eo 10,7 8,52 9,16
Eoz z 89 6 2
GROUP
204. 171. 115.US$m Adjusted EBITDA1 Rm 1,62 2,17 2,70
9 6 9 8.8 1.5 0.3
13.1812.6514.05R/US$Average exchange rate
1 The Group reports adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) based on the formula included in the 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 note 24.10 on page 89 of the 2017 Group Annual Financial Statements available at https://www.sibanyestillwater.com/investors/financial-reporting/annual-reports/2017. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.
2 The Platinum Group Metals (PGM) production in the SA region is principally platinum, palladium, rhodium and gold, referred to as 4E (3PGM+Au), and in the US region is principally platinum and palladium, referred to as 2E (2PGM).
3 See salient features and cost benchmarks for the quarter ended on page 6 and 7 for the definition of All-in sustaining cost.
4 The gold operations results for the quarter ended 30 September 2018 include DRDGOLD Limited for two months since acquisition.
5 The US PGM operations underground production is converted to metric tonnes and kilograms, and performance is translated to SA 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.
Stock data for the quarter JSE Limited - (SGL)
ended 30 September
2018
Number of Price range per R7.08 to R9.85
shares in ordinary
issue share
- at 30 Sept 2,265,879,337Average daily volume 6,975,462
2018
- weighted 2,265,879,337NYSE - (SBGL); one ADR represents
average four ordinary
shares
Free Float 78% Price range per ADR US$2.05 to
US$2.65
Bloomberg/ReuterSGLS/SGLJ.J Average daily volume 3,527,691
s
OVERVIEW AND UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2018
The Group safety performance improved significantly during the third quarter ended September 2018 (Q3 2018), due to ongoing interventions and safety improvement plans, gaining traction at all our operations. These initiatives were supported by continuing tripartite cooperation and input from key stakeholders, arising from the successful, multi-stakeholder Safety Summits that began in May 2018.
The focus on safe production remains the highest priority across the Group, We are pleased to report that the South African (SA) operations achieved over 2.7 million fatality free shifts as at end October 2018.
The SA and United States (US) Platinum Group Metal (PGM) operations maintained solid production results during the quarter, with adjusted EBITDA from the SA PGM operations (excluding Mimosa), 30% higher than for the comparable period in 2017. Adjusted EBITDA and All-in Sustaining Cost (AISC) from the US PGM operations for the quarter, were negatively affected by a deferral of sales for the entire September month until early October. This followed a request from a third party precious metals refiner, to defer deliveries of September production, whilst it undertook a stock take at its US refinery operations.
The significant operational challenges experienced at the SA gold operations during H1 2018 and the additional safety improvement interventions undertaken, continued to affect productivity across the gold operations in Q3 2018, with Driefontein in particular, delivering at substantially reduced production rates. As a result, adjusted EBITDA from the SA gold operations for Q3 2018, was substantially lower than for the comparable period in 2017, with AISC significantly elevated. In light of the underperformance at the SA Gold operations, guidance for the year ended 31 December 2018, has been revised, as detailed in the outlook section below.
Whilst there was a significant improvement in spot precious metal prices towards the end of the Q3 2018, the average price environment for the quarter was lackluster. Precious metal commodity prices in July and August 2018 remained below the quarter averages, which in turn, were only marginally higher than for the comparable period in 2017.
As a result of the reduced contribution from the SA gold operations during the period and the deferral of September sales into October 2018 at the US PGM operations, Group adjusted EBITDA declined by 40% to R1,629 million (US$116 million) relative to Q3 2017. The Group PGM operations contribution to Group adjusted EBITDA increased to 85% from 49% in Q3 2017.
The more positive precious metals and commodity price environment in September 2018, has been sustained into Q4 2018, as general market confidence in the outlook for precious metals and commodities overall, has improved. Together with the rand regressing to seemingly sustained weaker levels, the outlook for the remainder of the year appears to be more positive.
SAFE PRODUCTION
The focus on safe production across our operations continues, with ongoing campaigns to heighten safety awareness and a longer term safety strategy being implemented.
Our intensified focus on safe production since the two tragic safety related incidents in Q2 2018 in the SA region, has yielded positive results. In particular, promoting site specific decisions in alignment with our CARES values by emphasising the importance of the right our employees to withdraw from conditions they feel might not be safe, as well as reinforcing the role of the health and safety representative, has resulted in greater attention being focused by employees on the safe production readiness of our operations and on the application of safe operating practices. The Safety Summit process has also been effective in enlisting deeper cooperation, and clarifying the role of the unions, in collaborative support of safety improvement. The SA gold operations realised substantial improvements in all safety performance rates from H1 2018, with the SA PGM operations also maintaining an improving safety trend, and, injury rates at the US PGM operations tracking to historical levels.
Securing formal accreditation under ISO45001 as the successor to OHSAS18001 for our safety management system has commenced as the basis of a more rigorous application of world class safety requirements, and we also intend to obtain formal assurance under the ICMM code, which we have been honouring in support of our commitment to responsible mining, as the basis for becoming an ICMM member.
Invitations have been issued to eminent global mining safety professionals and academics to become members of our Global Safe Production Advisory Panel that will provide forward looking perspectives towards leading safe production practice. This is complemented by a request seeking to formulate a Virtual centre of excellence on the application of multi-disciplinary research to which constructive responses have been received from many of the leading global mining universities and research institutes.
Positively though, since the last fatal accident on 25 August 2018, Sibanye-Stillwater achieved a significant milestone of 2 million fatality free shifts across the SA region in mid-October 2018, rising to 2.7 million fatality free shifts by the end of October. We will continue with our efforts to ensure a safe working environment for employees.
OPERATING REVIEW
SA REGION
SA PGM operations
Attributable 4E PGM production from the SA PGM operations (including Mimosa) of 305,227oz for Q3 2018 was flat relative to Q3 2017 (306,184oz). Kroondal had another record performance, with production increasing by 6% relative to the previous year. Rustenburgs underground production was in line with the prior year but surface production was 1,736oz lower than in Q3 2017, mainly due to a lower feed grade of material treated and test work done in preparation for 2019 toll refining of underground ore.
Underground operating costs for the SA PGM operations (excluding Mimosa) increased by 6% to R11,720/4Eoz (US$834/4Eoz), reflecting the above inflation increases in wages and electricity costs, as well as higher winter power tariffs.
Chrome production of 204,277 tonnes (125,992 tonnes at Rustenburg and 78,285 tonnes at Kroondal) was similar to levels produced in Q2 2018, volumes sold for the quarter were lower than for Q 2 2018 however, due to timing of sales, which together with a lower average chrome price of US$169/tonne for Q3 2018 (S$196/tonne for Q2 2018), impacted on by-product credits. AISC (which includes sustaining capital expenditure and royalties, net of by-product credits, per 4E ounce of PGM produced) for the SA PGM operations was consequently 5% higher than for Q3 2017 at R10,834/4Eoz (US$771/4Eoz), but within guidance for the 2018 year.
The SA PGM operations (excluding Mimosa) reported a 30% increase in adjusted EBITDA to R696 million (US$50 million) for Q3 2018, and contributed 43% of the Group adjusted EBITDA. Attributable adjusted EBITDA from Mimosa, of approximately R111 million (US$8 million) is not included in Group adjusted EBITDA, as it is equity accounted separately.
SA gold operations
As announced on 1 August 2018, all conditions precedent to the DRDGOLD Limited (DRDGOLD) transaction were met and the transaction was implemented on 31 July 2018. Sibanye-Stillwater consolidated DRDGOLD in its operating and financial results from 1 August 2018 and the current operating results and adjusted EBITDA includes 100% of DRDGOLD.
Total gold production from the SA gold operations for Q3 2018 of 9,609kg (308,922oz), includes 757kg (24,323oz) or two months of production from DRDGOLD.
Like-for-like production from the SA gold operations, excluding DRDGOLD, declined 24% to 8,852kg (284,600oz) for Q3 2018 quarter compared to Q3 2017, reflecting the continuing trauma on the organisation from the tragic safety incidents in H1 2018, the ongoing rehabilitation of seismically affected production areas and the suspension of underground mining at the Cooke operations in late 2017.
Lower production output resulted in unit operating cost for the SA gold operations (excluding DRDGOLD) increasing by 20% to R495,798/kg (US$1,097/oz). AISC was 20% higher than for Q3 2017 and increased at Driefontein, Kloof and Beatrix by 50%, 21% and 6% respectively due to lower production, in part due to the continuing effects of the H1 2018 safety incidents.
Adjusted EBITDA (excluding DRDGOLD) for Q3 2018 quarter of R239 million (US$17 million) was 83% lower than for the comparable period in 2017. The SA gold operations contributed 15% to the Group adjusted EBITDA during the quarter.
Rehabilitation of the footwall access on the western side of Masakhane continues and is on track to begin building up production from the end of Q4 2018 with completion expected in Q1 2019. The ongoing effects and the trauma caused by the H1 safety incidents have been more severe than anticipated resulting in 2018 annual guidance being revised accordingly.
US REGION
US PGM operations
Underground 2E PGM production of 139,178oz for Q3 2018, was 3% higher than for the comparable period in 2017. Early Q3 mine production shortfalls at the Stillwater Mine were recovered at the end of the quarter. Production rates for Q4 2018 are anticipated to be higher due to a second stope block at Blitz coming on-line.
AISC of US$769/2Eoz was higher year-on-year, largely due to higher maintenance costs and planned outages at the metallurgical complex, as well as the temporary deferral of by-product sales due to the September month stock take at the third party refinery. With the ramp-up of the second stope block at Blitz in Q4 2018, AISC for the last quarter is anticipated to be substantially lower. The expected sale additional months production (four months in Q4 2018), is likely to benefit adjusted EBITDA, with additional by-product credits consequently benefiting AISC.
Due to the ongoing rebuild and expansion of the second furnace (EF2), recycling throughput has been temporarily reduced at the Columbus Metallurgical Complex. In total, 271,329oz 2E ounces were processed (mined: 126,744 2Eoz and recycled: 144,585 3Eoz) for the quarter, compared to 339,000oz (mined: 141,700 2Eoz and recycled: 197,300 3Eoz) for Q3 2017.
The recycling throughput was 18.4 tonnes of feed material per day for the quarter, compared with 23.0 tonnes per day for Q3 2017. Processing volumes are expected to normalise once EF2 is brought back online in Q4 2018.
The average 2E PGM basket price in Q3 2018 was US$896/2Eoz, 2% lower than the realized basket price of US$914/2Eoz for Q3 2017. The US PGM operations contributed US$49 million (R690 million) or 42% to Group adjusted EBITDA during the quarter, at an average adjusted EBITDA margin of 21%. This was based on selling only two months production.
The spot 2E PGM basket price is currently over US$1,020/2Eoz, or 14% higher than the average realised price for Q3 2018.
CORPORATE ACTION
Stream financing
On 16 July 2018, Sibanye-Stillwater announced the completion of a gold and palladium stream agreement with Wheaton Precious Metals International Limited (Wheaton International), in terms of which Sibanye-Stillwater has received US$500 million from Wheaton International in exchange for an agreed percentage of planned gold and palladium production from its US PGM operations (comprised of the East Boulder and Stillwater mining operations).
US$395 million of the proceeds were utilised during the quarter to repurchase approximately US$145 million (cash settlement value including accrued interest) of the 6.125% Notes due 27 June 2022 and approximately US$200 million (cash settlement value including accrued interest) of the 7.125% Notes due 27 June 2025, issued by Stillwater Mining Company and approximately US$50 million (cash settlement values including accrued interest) of Sibanye Gold Limiteds 1.875% Convertible Bonds, due 26 September 2023. The repurchase resulted in a 28% reduction of outstanding bond nominal values and will result in an approximate US$25 million reduction in annual coupon costs for the Group. The balance of the proceeds were applied towards short term debt repayments. The repayment profile of the Group is well structured with 67% of gross debt maturing only after 2021/22 when it is expected that production from Blitz would reach steady state. Further detail on the stream is available at: https://www.sibanyestillwater.com/investors/events/streaming-transaction.
The proposed Lonmin acquisition
On 18 September 2018, the South African Competition Commission (the Commission) recommended to the South African Competition Tribunal (Tribunal), that the proposed acquisition of Lonmin Plc be approved by the Tribunal, subject to certain conditions, which are agreeable to both Sibanye-Stillwater and the Commission. The Tribunal is the regulatory body which provides final approval for large mergers in South Africa.
The Tribunal hearing which was initially scheduled for 18 and 19 October 2018 was rescheduled for the week of the 12th of November 2018, a ruling on the proposed merger by the Tribunal is anticipated before the end of November 2018. Fulfilment of other conditions precedent, including the approvals of Lonmin and Sibanye-Stillwater shareholders and the courts of England and Wales, is now unlikely to be before the end of 2018 and closure of the proposed transaction is likely to occur in January 2019. Further information on the transaction is available at https://www.sibanyestillwater.com/investors/transactions/Lonmin.
DRDGOLD
On 1 August 2018, the DRDGOLD transaction was concluded. Sibanye-Stillwater now owns 38.05% (265,000,000 DRDGOLD ordinary shares) of the issued share capital of DRDGOLD. In addition, pursuant to the transaction, Sibanye-Stillwater has an option to subscribe for the Option Shares within 24 months from the date of implementation of the transaction to further attain up to a 50.1% shareholding in DRDGOLD at a 10% discount to the 30 day volume weighted average traded price of a DRDGOLD share on the day prior to the date of exercise of the option. Further information on the transaction is available at https://www.sibanyestillwater.com/investors/transactions/drdgold.
Altar
On 29 June 2018, Sibanye-Stillwater announced it had entered into an agreement with Regulus Resources Inc. (Regulus) and a newly formed subsidiary of Regulus, Aldebaran Resources Inc. (Aldebaran), to create a strategic partnership to unlock value at the Altar copper-gold project located in Argentina. The partnership unlocks immediate value from this greenfields exploration project to Sibanye-Stillwater, while enabling the experienced Aldebaran team to explore the upside potential of the Altar project by providing it with the exploration focus they bring.
The consideration to Sibanye-Stillwater, for Aldebarans option to acquire up to an 80% interest in the Altar Project, comprises:
- An upfront cash payment of US$15 million and a shareholding of 19.9% in Aldebaran to Sibanye-Stillwater
- A commitment from Aldebaran to carry the next US$30 million of spend at the Altar Project over a maximum of five years, as an initial earn-in of a 60% interest in the Altar Project (the Initial Earn-in)
- Aldebaran may also elect to earn into an additional 20% interest in the Altar Project by spending an additional US$25 million over a three-year period following the Initial Earn-in.
Sibanye-Stillwater has received the upfront proceeds (US$15 million), while retaining a direct interest in the project of either 40% or 20% (should Aldebaran exercise its additional earn in option) as well as an indirect exposure through its 19.9% shareholding in Aldebaran. Together with the upfront US$15 million received, Aldebaran has issued an aggregate of 15,449,555 Aldebaran shares (19.9% holding) to Sibanye-Stillwater, of the current 77,635,957 issued and outstanding Aldebaran Shares, all in accordance with the JV Agreement. The Aldebaran Shares are expected to begin trading on the TSX Venture Exchange under the ticker symbol "ALDE" in early November 2018.
The transaction successfully closed on 25 October 2018. For more information on this transaction, refer to https://www.sibanyestillwater.com/investors/transactions/altar.
Purported class action
Two purported class action lawsuits have been filed against Sibanye Gold Limited (Sibanye-Stillwater), Neal Froneman (the Group CEO) and Charl Keyter (the Group CFO) in the United States District Court for the Eastern District of New York, alleging violations of the US securities laws. The first lawsuit, Case No. 18-cv-03721, was filed on 27 June 2018 by Kevin Brandel, individually and on behalf of all other persons who purchased Sibanye securities between 7 April 2017 and 26 June 2018, inclusive (the Class Period). The second lawsuit, Case No. 18-cv-03902, was filed on 6 July 2018 by Lester Heuschen, Jr., also individually and on behalf of members of the Class Period (collectively, the Class Actions). The Class Actions allege that certain statements by Sibanye-Stillwater in its annual reports filed with the US Securities and Exchange Commission were false and/or misleading. Specifically, the Class Actions allege that Sibanye made false and/or misleading statements about its safety practices and record and thereby violated the US securities laws. The Class Actions seek an unspecified amount of damages.
As the cases are in the early stages, it is not possible to determine the likelihood of success on the merits or to quantify any potential liability from the Class Actions nor estimate the duration of the litigation. Sibanye-Stillwater intends to defend the cases vigorously.
South African Mining Charter
The revised South African Mining Charter was published towards the end of September 2018 with significant amendments from the consultation draft published in June 2018. While the implementation guidelines scheduled for development by November 2018 are necessary to provide clarity on certain issues and fully understand the implications for Sibanye-Stillwaters mining rights, recognition of the continuing consequences of historical empowerment transactions for the duration of existing mining rights provides improved investment certainty. The Minerals Council will continue to engage on behalf of its members with the Department of Mineral Resources to resolve the issues that remain outstanding.
Gold wage negotiations
The gold wage negotiations in South Africa have progressed to an advanced stage with all the other gold companies in the bargaining unit having concluded various agreements. Sibanye-Stillwater continues to engage the unions in an attempt to reach an affordable yet fair agreement, which does not further compromise the sustainability of its operations. While strike action remains a possibility we will continue to strive to avoid this outcome, but are well prepared to deal with a strike should one transpire.
OUTLOOK
Production rates at our SA and US PGM operations should be sustained in Q4 2018, with the US PGM operations likely to benefit from the sale of deferred September production in October and a partial unwind of inventories.
Precious metal prices have been noticeably higher in October 2018, following relatively depressed average prices in Q3 2018, with the palladium price in particular reflecting the sustained deficit and limited availability of stock. The rand remains volatile, but given the deterioration in the outlook for the South African economy, appears to have established a new base above R14.00/US$, which is significantly weaker than the beginning of the year and will benefit the SA gold and PGM operations.
The SA PGM operations are expected to produce in line with previously guided forecast of 4E PGM production of between 1.1 Moz and 1.15Moz (including Mimosa), with AISC expected to be at the lower end of the guidance of between R10,750/4Eoz and R11,250/4Eoz (US$825/4Eoz and US$860/4Eoz). Capital expenditure is expected to be R1,000 million (US$77m), R200 million (US$15m) lower than previously guided. Cost and capital guidance exclude Mimosa.
The tragic safety incidents in H1 2018, have had a significant and continuing effect on production at the SA gold operations, compounded by losses in areas affected by seismicity and currently subject to rehabilitation. As a result, operational guidance for the SA gold operations in 2018 has been revised and excludes DRDGOLD. Production for the year ending 31 December 2018 is now forecast at between 35,000kg and 36,000kg (1.13Moz and 1.16Moz), with AISC between R550,000/kg and R565,000/kg (US$1,311/oz and US$1,347/oz). Capital expenditure is forecast at approximately R3,000 million (US$230 million).
The dollar costs used in the guidance are based on an average exchange rate of R13.05/US$ for the 2018 year.
2E PGM production guidance from the US PGM operations for the year ending 31 December 2018 is unchanged at between 580,000oz and 610,000oz with AISC guidance between US$640/2Eoz and US$680/2Eoz. Capital expenditure is expected to be up to US$222 million.
NEAL FRONEMAN
CHIEF EXECUTIVE OFFICER
SALIENT FEATURES AND COST BENCHMARKS FOR THE QUARTER ENDED 30 SEPTEMBER 2018, 30 JUNE 2018 AND 30 SEPTEMBER 2017
SA and US PGM operations
GROUSA REGION US
P REG
ION
TotaTotal SA PGMKrooMimoPlaRustenbuTota
l ndalsa t rg l
SA Mi US
and le PGM
US
Stil
lwat
e
r
Attributable PGM TotaUndeSurfAttrAttrSurUndeSurfUnde
opel r- ace ibutibutfacr- ace r-
rati ableablee gro
ons grou grou und
nd nd 1
Production
Tonnes 000't Sep 7,0 6,7 3,2 3,4 1,0 351 1, 1,9 1,5 326
milled/trea 20194 68 88 79 01 88736 93
ted 8
Jun 6,9 6,6 3,0 3,5 961 361 2, 1,7 1,5 326
20158 32 57 75 07035 05
8
Sep 7,2 6,9 3,2 3,7 978 359 2, 1,8 1,5 309
20123 14 09 05 20272 03
7
Plant head g/t Sep 2.5 2.0 3.2 0.8 2.4 3.5 0. 3.5 1.1 14.
grade 2019 1 2 7 5 4 68 7 0 55
8
Jun 2.5 1.9 3.2 0.8 2.5 3.5 0. 3.5 1.1 15.
2016 5 5 2 0 7 62 4 2 17
8
Sep 2.5 2.0 3.2 0.9 2.3 3.5 0. 3.6 1.3 14.
2016 1 6 2 9 9 60 4 9 86
7
Plant % Sep 75. 69. 83. 22. 82. 77. 11 84. 29. 89.
recoveries 20130 59 18 18 41 19 .7853 77 21
8
Jun 74. 68. 81. 24. 82. 77. 9. 83. 34. 91.
20180 34 11 41 51 76 69 23 61 31
8
Sep 74. 68. 84. 21. 81. 78. 11 86. 27. 91.
20143 68 11 43 85 19 .7000 57 00
7
Yield g/t Sep 1.9 1.4 2.6 0.1 2.0 2.7 0. 3.0 0.3 13.
2015 0 8 9 2 3 08 1 3 28
8
Jun 1.9 1.3 2.6 0.2 2.0 2.7 0. 2.9 0.3 13.
2011 3 5 0 6 7 06 5 9 87
8
Sep 1.9 1.3 2.7 0.2 1.9 2.8 0. 3.1 0.3 13.
2010 8 4 0 6 0 07 4 8 65
7
PGM 4Eoz - Sep 444 305 283 21, 65, 30, 4, 187 16, 139
production 2Eoz 201,405,227,564662 047 855 851,663811 ,178
2 8
Jun 428 282 260 22, 63, 32, 3, 164 18, 145
201,382,972,198774 697 141 995,360779 ,410
8
Sep 441 306 282 23, 61, 32, 4, 188 18, 135
201,769,184,666518 633 334 971,699547 ,585
7
PGM sold 4Eoz - Sep 412 305 283 21, 65, 30, 4, 187 16, 107
2Eoz 201,800,227,564662 047 855 851,663811 ,573
8
Jun 419 282 260 22, 63, 32, 3, 164 18, 136
201,656,972,198774 697 141 995,360779 ,684
8
Sep 444 306 282 23, 61, 32, 4, 188 18, 138
201,645,184,666518 633 334 971,699547 ,461
7
Price and
costs
3
Average PGM R/4Eoz Sep 13, 14, 14, 13, 14, 13, 13 13, 13, 12,
basket - 201559 049 110 333 446 532 ,90994 167 592
price R/2Eoz8 7
4
Jun 12, 13, 13, 12, 13, 12, 13 12, 12, 12,
201724 013 041 726 447 814 ,13884 638 225
8 7
Sep 12, 12, 12, 12, 12, 12, 12 12, 12, 12,
201385 551 550 571 520 650 ,66560 545 047
7 6
US$/4EoSep 971 1,0 1,0 949 1,0 963 99 996 937 896
z 201 00 04 28 0
8
Jun 1,0 1,0 1,0 1,0 1,0 1,0 1, 1,0 999 966
20105 28 31 06 63 13 03818
8
Sep 940 953 953 954 950 960 96 954 953 914
201 1
7
Operating R/t Sep 662 503 1,0 76 693 924 23 1,1 138 3,7
cost 201 08 72 99
5 8
Jun 592 474 1,0 68 657 899 16 1,2 139 2,8
201 12 09 62
8
Sep 590 462 974 68 626 750 15 1,1 145 3,3
201 56 05
7
US$/t Sep 47 36 72 5 49 66 2 83 10 270
201
8
Jun 47 37 80 5 52 71 1 96 11 226
201
8
Sep 45 35 74 5 48 57 1 88 11 251
201
7
R/4Eoz Sep 10, 11, 11, 12, 10, 10, 8, 12, 13, 8,9
- 201798 753 720 141 665 514 782086 110 14
R/2Eoz8
Jun 7,4 11, 11, 10, 9,9 10, 8, 12, 11, 6,4
20196 842 964 622 16 087 310758 113 11
8
Sep 7,3 11, 11, 10, 9,9 8,3 6, 11, 11, 7,5
20199 062 092 741 31 19 860472 781 41
7
US$/4EoSep 768 836 834 864 759 748 62 860 933 634
z 201 5
- US$/8
2Eoz
Jun 592 936 945 839 784 797 65 1,0 878 507
201 7 08
8
Sep 562 840 842 816 754 632 52 871 895 573
201 1
7
All-in R/4Eoz Sep 10, 10, 10, 9,5 8, 11,114 10,
sustaining - 201819 834 131 59 472 789
cost R/2Eoz8
6
Jun 9,4 10, 9,5 8,5 6, 10,252 8,5
20175 025 97 79 383 26
8
Sep 9,8 10, 10, 8,5 7, 10,317 9,1
20176 229 188 59 081 62
7
US$/4EoSep 770 771 721 680 60 791 769
z - 201 3
US$/2E8
oz
Jun 749 792 758 678 50 810 674
201 4
8
Sep 749 777 773 650 53 782 695
201 7
7
All-in cost6R/4Eoz Sep 11, 10, 10, 9,5 12 11,114 13,
- 201751 901 131 59 ,24 428
R/2Eoz8 5
Jun 10, 10, 9,5 8,5 14 10,255 10,
201398 160 97 79 ,74 809
8 3
Sep 10, 10, 10, 8,5 7, 10,317 11,
201778 229 188 59 081 885
7
US$/4EoSep 836 776 721 680 87 791 956
z 201 1
- 8
US$/2E
oz
Jun 822 803 758 678 1, 810 854
201 165
8
Sep 818 777 773 650 53 782 902
201 7
7
Capital
expenditure
Ore reserve Rm Sep 384 131 - - - 131.4 253
development 201.7 .4 .3
8
Jun 339 116 - - - 116.3 222
201.1 .3 .8
8
Sep 325 120 - - - 120.7 205
201.9 .7 .2
7
Sustaining Rm Sep 186 101 31. 49. 1. 68.4 85.
capital 201.9 .6 9 2 3 3
8
Jun 143 66. 29. 29. (5 42.8 77.
201.7 4 0 6 .4) 3
8
Sep 177 82. 40. 53. 3. 37.8 95.
201.9 2 6 6 8 7
7
Corporate Rm Sep 385 18. - - 18 - 367
and 201.6 3 .3 .3
projects 8
7
Jun 365 34. - - 33 0.6 331
201.9 0 .4 .9
8
Sep 366 - - - - - 366
201.5 .5
7
Total Rm Sep 957 251 31. 49. 19 199.7 705
capital 201.2 .3 9 2 .7 .9
expenditure 8
Jun 848 216 29. 29. 28 159.8 632
201.8 .8 0 6 .0 .0
8
Sep 923 256 40. 53. 3. 158.5 667
201.9 .5 6 6 8 .4
7
US$m Sep 68. 17. 2.3 3.5 1. 14.2 50.
2011 9 4 2
8
Jun 67. 17. 2.3 2.3 2. 12.6 49.
2011 1 2 9
8
Sep 70. 19. 3.1 4.1 0. 12.0 50.
2010 5 3 5
7
Average exchange rates for the quarters ended 30 September 2018, 30 June 2018 and 30 September 2017 were R14.05/US$, R12.65/US$ and R13.18/US$, respectively.
Figures may not add as they are rounded independently.
1 The US PGM operations underground production is converted to metric tonnes and performance is translated into SA rand. In addition to the US PGM operations underground production, the operation treats various recycling material which is excluded from the underground statistics shown above and is detailed in the PGM recycling table below.
2 Production per product - see prill split in the table below.
3 The Group and total SA PGM operations unit cost benchmarks exclude the financial results of Mimosa, which is equity accounted and excluded from revenue and cost of sales.
4 The average PGM basket price is the PGM revenue per 4E/2E ounce, prior to a purchase of concentrate adjustment.
5 Operating cost is the average cost of production and 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.
6 All-in costs 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 costs is made up of All-in sustaining costs, being the cost to sustain current operations, given as a sub-total in the All-in costs 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 costs and All-in costs, respectively, in a period by the total 4E/2E PGM produced in the same period.
The US region All-in cost, excluding the corporate project expenditure (on the Altar and Marathon projects), for the quarters ended 30 September 2018, 30 June 2018 and 30 September 2017 was US$951/2Eoz, US$832/2Eoz and US$900/2Eoz, respectively.
7 The US region corporate expenditure for the quarters ended 30 September 2018, 30 June 2018 and 30 September 2017 includes R8.9 million (US$0.6 million), R41.4 million (US$3.4 million) and R21.1 million (US$1.6 million), respectively, related to the Altar and Marathon projects.
Mining - Prill split excluding Recycling operations
GROUP SA REGION US REGION
Sep Jun Sep Sep Jun Sep Sep Jun Sep
2018 2018 2017 2018 2018 2017 2018 2018 2017
4Eoz% 4Eoz% 4Eoz% 4Eo% 4Eo% 4Eo% 2Eo% 2Eo%
/ / / z z z z z
2Eo 2Eo 2Eo
z z z
Platinum 20947% 19746% 20847 1758 1658 1758 3123 3223 3023
,594 ,721 ,051% 7,7% 4,9% 7,1% ,86% ,76% ,94%
28 59 08 6 2 3
Palladium 20145% 20047% 20045 9431 8731 9631 1077 1177 1077
,936 ,342 ,818% ,62% ,69% ,17% 7,3% 2,6% 4,6%
4 4 6 12 48 42
Rhodium 25,6% 20,5% 25,6% 258% 207% 258%
828 096 875 ,82 ,09 ,87
8 6 5
Gold 7,02% 10,2% 7,02% 7,2% 104% 7,2%
47 223 25 047 ,22 025
3
PGM 444100 428100 44110 3010 2810 3010 1310 1410 1310
producti,405% ,382% ,7690%5,20%2,90%6,10%9,10%5,40%5,50%
on 27 72 84 78 10 85
Ruthenium 41, 37, 40, 41 37 40
001 465 265 ,00 ,46 ,26
1 5 5
Iridium 9,4 9,9 9,2 9, 9, 9,
70 69 61 470 969 261
Total 494 475 491 35 33 35 13 14 13
,876 ,816 ,295 5,6 0,4 5,7 9,1 5,4 5,5
98 06 10 78 10 85
Recycling operation
- 3E
PGM
US REGION
UnitSepJun Sep
20 201 20
18 8 17
Average Tonn 18 21. 23
catalyste .4 8 .0
fed/day
Total Tonn 1, 1,9 2,
processee 69684 120
d
Tolled Tonn 18 307 35
e 8 9
PurchasedTonn 1, 1,6 1,
e 50877 761
PGM fed Troy 14 168 19
oz 4,5,8427,3
85 00
PGM sold Troy 12 147 14
oz 6,7,8721,7
44 00
PGM Troy 40 29, 34
tolled oz ,47996 ,60
returned 5 0
SA gold operations
SA REGION
Total SA DriefontKloof Beatrix Cooke DRDG
gold ein OLD
1
TotaUndeSurfUndeSurfUndeSurfUndeSurfUndeSurfSurf
l r- ace r- ace r- ace r- ace r- ace ace
grou grou grou grou grou
nd nd nd nd nd
Producti
on
Tonnes 000Sep 8,5 1,5 6,9 402 180 471 1,4 629 94 32 1,1 4,1
milled/'t 20115 34 81 37 21 49
treated 8
Jun 4,7 1,6 3,1 450 388 479 1,6 685 111 5 1,0 -
20172 19 53 24 30
8
Sep 4,9 2,0 2,9 551 1,0 574 933 725 78 157 816 -
20124 07 17 90
7
Yield g/tSep 1.1 5.0 0.2 5.3 0.6 7.0 0.4 3.5 0.3 0.9 0.3 0.1
2013 5 7 8 1 9 2 3 4 4 1 8
8
Jun 2.0 5.1 0.3 5.5 0.5 7.2 0.3 3.5 0.3 1.2 0.2 -
2010 9 6 9 2 1 7 5 7 0 9
8
Sep 2.3 5.2 0.3 6.0 0.4 7.2 0.4 3.2 0.2 4.5 0.2 -
2015 5 6 0 0 1 2 8 7 2 4
7
Gold kg Sep 9,6 7,7 1,8 2,1 110 3,3 607 2,2 32 30 351 757
product 20109 52 57 62 38 22
ion 8
Jun 9,5 8,4 1,1 2,5 203 3,4 606 2,4 41 6 295 -
20148 03 45 16 52 29
8
Sep 11, 10, 1,0 3,3 438 4,1 390 2,3 21 710 198 -
201576 529 47 06 37 76
7
oz Sep 308 249 59, 69, 3,5 107 19, 71, 1,0 965 11, 24,
201,922,233689 510 37 ,319515 439 29 285 323
8
Jun 306 270 36, 80, 6,5 110 19, 78, 1,3 193 9,4 -
201,974,162812 891 27 ,984483 094 18 84
8
Sep 372 338 33, 106 14, 133 12, 76, 675 22, 6,3 -
201,176,514662 ,290082 ,007539 390 827 66
7
Gold kg Sep 9,5 7,7 1,8 2,1 110 3,3 607 2,2 32 30 351 733
sold 20185 52 33 62 38 22
8
Jun 9,5 8,4 1,1 2,5 203 3,4 606 2,4 41 6 295 -
20148 03 45 16 52 29
8
Sep 11, 10, 1,0 3,3 438 4,1 390 2,3 21 710 198 -
201576 529 47 06 37 76
7
oz Sep 308 249 58, 69, 3,5 107 19, 71, 1,0 965 11, 23,
201,176,233943 510 37 ,319515 439 29 285 577
8
Jun 306 270 36, 80, 6,5 110 19, 78, 1,3 193 9,4 -
201,974,162812 891 27 ,984483 094 18 84
8
Sep 372 338 33, 106 14, 133 12, 76, 675 22, 6,3 -
201,176,514662 ,290082 ,007539 390 827 66
7
Price
and
costs
Gold R/kSep 544 550,528 545,856 543,301 549,606 553
price g 201,542 ,003
receive 8
d
Jun 531 531,519 531,099 538,907 547,508 -
201,640
8
Sep 542 540,251 542,412 543,763 547,687 -
201,407
7
US$Sep 1,2 1,218 1,208 1,202 1,216 1,2
/oz 20105 24
8
Jun 1,3 1,306 1,305 1,325 1,346 -
20107
8
Sep 1,2 1,275 1,280 1,284 1,293 -
20180
7
OperatinR/tSep 561 2,5 132 3,5 326 2,9 209 1,6 109 47 144 94
g 201 15 85 63 22
cost 8
2
Jun 910 2,3 173 3,1 196 2,8 194 1,4 123 140 137 -
201 45 15 78 83
8
Sep 969 2,1 167 2,6 175 2,3 186 1,4 141 2,9 138 -
201 34 43 37 18 17
7
US$Sep 40 179 9 255 23 211 15 115 8 3 10 7
/t 201
8
Jun 72 185 14 246 15 227 15 117 10 11 11 -
201
8
Sep 74 162 13 201 13 177 14 108 11 221 10 -
201
7
R/kSep 497 497 496 666 533 418 495 459 318 53, 458 516
g 201,425,730,153,559,636,065,222,136,750333 ,689,651
8
Jun 454 451 476 557 374 399 520 418 334 116 476 -
201,881,886,856,075,384,421,957,320,146,667,610
8
Sep 412 406 466 440 436 324 445 432 523 645 568 -
201,215,838,285,442,073,196,385,786,810,070,182
7
US$Sep 1,1 1,1 1,0 1,4 1,1 925 1,0 1,0 705 118 1,0 1,1
/oz 20101 02 98 75 81 96 16 15 44
8
Jun 1,1 1,1 1,1 1,3 920 982 1,2 1,0 821 287 1,1 -
20118 11 72 69 80 28 71
8
Sep 973 960 1,1 1,0 1,0 765 1,0 1,0 1,2 1,5 1,3 -
201 01 40 29 51 22 36 23 41
7
All-in R/kSep 582 785,871 509,303 528,882 484,777 564
sustaing 201,809 ,161
ing 8
cost
3
Jun 526 646,083 479,966 475,951 496,678 -
201,833
8
Sep 487 522,703 419,395 498,748 646,035 -
201,068
7
US$Sep 1,2 1,739 1,127 1,171 1,073 1,2
/oz 20190 49
8
Jun 1,2 1,588 1,180 1,170 1,221 -
20195
8
Sep 1,1 1,234 990 1,177 1,525 -
20150
7
All-in R/kSep 609 785,915 516,755 528,882 484,777 720
cost g 201,794 ,775
3 8
Jun 542 646,193 489,724 476,032 496,678 -
201,187
8
Sep 503 526,068 425,160 499,458 646,035 -
201,041
7
US$Sep 1,3 1,739 1,144 1,171 1,073 1,5
/oz 20150 96
8
Jun 1,3 1,588 1,204 1,170 1,221 -
20133
8
Sep 1,1 1,242 1,004 1,179 1,525 -
20187
7
Capital
expendi
ture
Ore Rm Sep 591 232.3 242.6 116.4 - -
reserve 201.3
8
developm Jun 532 220.3 203.8 108.0 - -
ent 201.1
8
Sep 596 242.2 237.7 116.7 - -
201.6
7
Sustaini Sep 143 47.4 64.8 26.6 - 4.5
ng 201.3
capital 8
Jun 105 55.9 35.1 14.7 - -
201.7
8
Sep 139 58.5 65.0 16.1 - -
201.6
7
Corporat Sep 144 0.1 29.4 - - 114
e 201.3 .8
and 8
projects Jun 40. 0.3 39.6 0.2 - -
4 2011
8
Sep 38. 12.6 26.1 - - -
2017
7
Total Rm Sep 879 279.8 336.9 143.0 - 119
capital 201.0 .3
8
expendit Jun 677 276.5 278.5 122.9 - -
ure 201.9
8
Sep 774 313.3 328.8 132.8 - -
201.9
7
US$Sep 62. 19.9 24.0 10.2 - 8.5
m 2016
8
Jun 53. 21.8 22.0 9.7 - -
2015
8
Sep 58. 23.8 25.0 10.1 - -
2019
7
Average exchange rates for the quarters ended 30 September 2018, 30 June 2018 and 30 September 2017 were R14.05/US$, R12.65/US$ and R13.18/US$, respectively.
Figures may not add as they are rounded independently.
1 On 31 July 2018, Sibanye-Stillwater acquired 38% of the issued share capital and obtained control of DRDGOLD Limited (DRDGOLD). From this date, Sibanye-Stillwater consolidates and presents 100% of DRDGOLDs production, price and costs, and capital expenditure statistics shown.
2 Operating cost is the average cost of production and calculated by dividing the cost of sales, before amortisation and depreciation 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 in a period by the gold produced in the same period.
3 All-in costs 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 costs is made up of All-in sustaining costs, 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 costs and All-in costs, respectively, in a period by the total gold sold over the same period.
4 Corporate project expenditure for the quarters ended 30 September 2018, 30 June 2018 and 30 September 2017 amounted to R31.2 million (US$2.2 million), R53.2 million (US$4.2 million), and R93.0 million (US$7.0 million), respectively. The majority of this expenditure was on the Burnstone project.
5
DEVELOPMENT RESULTS
Development values represent the actual results of sampling and no allowance has been made for any adjustments which may be necessary when estimating ore reserves. All figures below exclude shaft sinking metres, which are reported separately where appropriate.
SA gold operations
Quarter 30 Sep 2018 30 Jun 2018 Nine months ended
ended 30 Sep
2018
Ree BlaCarMaiVCR BlaCarMaiVCR BlaCarMaiVCR
f ck bonn ck bonn ck bonn
Re Re Re
ef lea ef lea ef lea
der der der
DriefontUni
ein t
Advanced(m) 13 1, 69 875 65 1, 67 86 26 4, 2, 2,
1 3048 6886 7 1 432033734
Advanced(m) 47 28 10 198 59 37 14 19 15 95 48 52
on 5 5 7 9 7 5 4 2 2
reef
Channel (cm 17 50 40 88 16 54 36 93 13 47 49 82
width ) 9 5 2
Average (g/ 5. 23 14 22. 2. 19 13 31 3. 22 10 37
value t) 1 .1 .9 3 1 .1 .8 .9 6 .9 .9 .0
(cm 90 1, 59 1,9 34 1, 49 2, 47 1, 53 3,
.g 6 1571 62 6 0256 961 4 0694 026
/t)
Quarter 30 Sep 2018 30 Jun 2018 Nine months ended
ended 30 Sep
2018
Ree KloMaiLibVCR KloMaiLibVCR KloMaiLibVCR
f of n ano of n ano of n ano
n n n
Kloof Uni
t
Advanced(m) 1, 60 20 1,2 1, 57 21 1, 3, 1, 50 4,
3823 72 2209 582 759787 003
Advanced(m) 41 14 20 231 33 12 35 1, 34 29 83
on 6 3 3 2 1 1226 7
reef
Channel (cm 13 13 11 132 13 12 10 13 13 10 11
width ) 2 8 3 3 6 4 2 1 9 2
Average (g/ 6. 13 11 17. 6. 7. 21 7. 9. 11 20
value t) 1 .0 .4 9 2 8 .5 3 8 .4 .1
(cm 81 1, 1, 2,3 82 98 2, 96 1, 1, 2,
.g 2 78228957 7 6 233 0 280236239
/t)
Quarter 30 Sep 2018 30 Jun 2018 Nine months ended
ended 30 Sep
2018
Reef Bea Kalko Bea Kalko Bea Kalko
tri enkra tri enkra tri enkra
x ns x ns x ns
BeatrixUnit
Advance(m) 4, 74 4, 29 12 167
d 300 486 ,69
5
Advance(m) 1, 2 1, 3, 23
d on 377 354 964
reef
Channel(cm) 12 132 11 12 166
width 7 5 0
Average(g/t 6. 7.9 6. 6. 9.5
value ) 8 6 4
(cm. 86 1,03 76 77 1,58
g 0 9 0 2 1
/t)
Quarter 30 Sep 2018 30 Jun 2018 Nine months ended
ended 30 Sep
2018
Ree Kimb Kim Kim
f erle ber ber
y ley ley
Reef Ree Ree
s fs fs
BurnstonUni
e t
Advanced(m) - 38 1,
3 648
Advanced(m) - 10 29
on 0 3
reef
Channel (cm - 30 56
width )
Average (g/ - 13 10
value t) .8 .0
(cm - 41 55
.g 4 9
/t)
SA PGM operations
Quarter 30 Sep 2018 30 Jun 2018 Nine months ended
ended 30 Sep
2018
ReeKopSimBambKweK6 KopSimBambKweK6 KopSimBambKweK6
f aneunyananzi aneunyananzi aneunyananzi
ng e i ng e i ng e i
KroondalUni
t
Advanced(m) 58 46 608 62 53 67 53 592 63 55 1, 1, 1,7 1, 1,
7 8 7 3 8 9 6 5 69448878 872890
Advanced(m) 57 42 539 57 50 63 45 582 52 43 1, 1, 1,5 1, 1,
on 4 8 5 8 2 1 9 1 61524122 638596
reef
Height (cm 24 22 217 25 24 23 24 222 24 26 24 23 219 24 25
) 8 4 0 7 9 1 6 4 1 2 7 1
Average (g/ 1. 2. 2.1 2. 1. 2. 1. 2.7 2. 1. 2. 2. 2.3 2. 1.
value t) 8 3 1 8 0 8 2 7 0 1 1 9
(cm 44 51 460 51 44 46 43 592 52 44 47 48 493 52 48
.g 1 7 5 5 8 8 9 0 6 3 9 3
/t)
Quarter 30 Sep 2018 30 Jun 2018 Nine months ended
ended 30 Sep
2018
ReeBathoThemKhusSiphuBathThemKhusSiphBathThemKhusSiph
f pele belaelekmelelopelbelaelekumelopelbelaelekumel
ni a e e ni a ele e ni a ele
RustenbUni
urg t
Advance(m) 552 2,1 2,7 1,14 3 1,7 2,4 1,1 1, 5, 7,4 3,3
d 03 97 8 1680 18 16 17034905 22
Advance(m) 552 769 915 558 3 832 775 525 1, 2, 2,2 1,4
d on 16 17010385 23
reef
Height (cm 220 287 282 285 2 297 290 288 21 28 287 289
) 15 5 8
Average(
Leseranfragen:
Sibanye ist der größte eigenständige Goldproduzent Südafrikas und einer der 10 größten Goldproduzenten weltweit.
Datum: 01.11.2018 - 15:54 Uhr
Sprache: Deutsch
News-ID 583381
Anzahl Zeichen: 74120
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 239 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sibanye Stillwater: Operating Update for the Quarter Ended 30 September 2018
"
steht unter der journalistisch-redaktionellen Verantwortung von
Sibanye Gold Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).