By Kyle Morris


Sibanye-Stillwater Ltd. said Thursday that third-quarter adjusted Ebitda fell and that its 2022 U.S. platinum group metals production is now seen at lower end of its forecast, while it maintained its South Africa PGM production forecast.

The miner said that adjusted earnings before interest, taxes, depreciation and amortization--which strips out exceptional and other one-off items--for the third quarter was $496 million compared with $571 million the prior quarter as the South Africa PGM operations were hit by electricity shortages.

Third-quarter U.S. PGM production was 85,889 ounces, down 40% on year.

South Africa PGM production in the quarter was 432,143 ounces, down 14% on year, while production from gold operations fell 30% in the country to 6,366 kilograms.

For 2022, U.S. PGM production is seen at the lower end of the forecast at 445,000-460,000 ounces, with 2022 U.S. PGM capital expenditure seen between $275 million and $285 million. The company's 2022 South Africa PGM production forecast remains at 1.75 million to 1.85 million ounces.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

11-03-22 0248ET