- Higher metals prices lift earnings despite weaker production.
- US strike exposes rising costs and recovery risks.
PRETORIA, SOUTH AFRICA – Sibanye-Stillwater’s earnings recovery is gathering momentum, but falling production and rising costs raise questions about whether stronger metals prices can sustain its turnaround.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 9% in rand terms to R10.8bn (US$662mn) in the third quarter of 2026, equivalent to an 18% increase in dollar terms. Yet earnings fell 12% from US$755mn in the preceding quarter, revealing uneven performance across the mining group.
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