|Bid||0.00 x 3200|
|Ask||0.00 x 21500|
|Day's Range||5.08 - 5.20|
|52 Week Range||2.14 - 5.62|
|Beta (3Y Monthly)||0.04|
|PE Ratio (TTM)||91.96|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.03|
South Africa's Association of Mineworkers and Construction Union (AMCU) is disappointed by a wage offer for workers at Lonmin, which was acquired by Sibanye-Stillwater this year. "We are utterly disappointed with the offer at Sibanye-Stillwater Lonmin," Joseph Mathunjwa told a news conference, describing the offer as a "slap in the face". Mathunjwa said that workers at Lonmin had been offered annual wage increases of 300 rand ($19.55) for the first year, 350 rand for the second year and 400 rand for the third year, lower than other miners in South Africa.
South Africa's Sibanye-Stillwater has improved operating performance in the second quarter and is set to achieve its annual targets, the precious metals miner said on Thursday. Consistent performance from platinum group metal (PGM) operations helped to offset disruption at the group's gold mines, with the company now expecting annual PGM production to be at the upper end of guidance, excluding the Marikana mine acquired as part of its takeover of Lonmin. Operating results from the group's three segments were "significantly improved" from the previous quarter, with further progress forecast during the second half of the year, the company said in a statement.
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South Africa's Sibanye-Stillwater is to sell a 51% stake in its PGM-copper project in northern Ontario to Generation Mining Ltd in a deal to further develop the asset, the previous miner said on Wednesday. Sibanye-Stillwater will receive 3.0 million Canadian dollars ($2.28 million) in upfront proceeds and 11 million shares at 0.2714 Canadian dollars per share in Generation Mining, equating to a 12.9% equity stake.
After a strong three-day run on central bank dovishness, the indices are resting Friday. It is a summer Friday and it has been a good week for the bulls so there are plenty of market participants that are happy to do a little selling and head out early.
Earlier on Tuesday, Sibanye-Stillwater said 87% of its shareholders backed the all-share offer, which it revised last month to value the struggling Lonmin at 226 million pounds ($286 million), 60 million pounds less than originally proposed. Lonmin was hit hard by the drop in platinum prices and has had to cut spending and jobs in order to retain a positive balance sheet, a condition of Sibanye's proposed offer. Shares in London-listed Lonmin were up 5.2% at 1131 GMT, while Sibanye's were up 5.8%.
South Africa's department of mineral resources says all 1,800 miners who had been caught underground have been freed overnight. Mining company Sibanye-Stillwater on Tuesday said some rails that were being ...
South Africa's department of mineral resources says plans are underway to free a large number of miners caught underground by hoisting them up an adjoining shaft. The department says it has an inspector monitoring the situation at the Thembelani shaft in Rustenberg run by mining company Sibanye-Stillwater.
Even though gold prices slipped on a stronger dollar, it will eventually pick up this year. We suggest few promising gold mining stocks to add to your portfolio.