Sibanye Stillwater Q1 adjusted EBITDA jumps 371% to R 19.4 billion

  • Sibanye-Stillwater posted Q1 2026 group adjusted EBITDA of ZAR 19.4 billion, up 371% year on year, as higher commodity prices amplified solid operating performance.
  • SA PGM adjusted EBITDA rose 393% to ZAR 12.4 billion; 4E PGM production increased 2% to 383,241 oz; AISC held flat at ZAR 24,629/4Eoz.
  • SA gold adjusted EBITDA climbed 160% to ZAR 4.7 billion; production was stable at 139,406 oz; AISC increased 15% to USD 3,114/oz.
  • US PGM adjusted EBITDA improved to USD 48 million from a loss of USD 9 million; 2E production fell 5% to 68,386 oz; AISC rose 14% to USD 1,291/2Eoz, supported by Section 45X credits.
  • Keliber lithium construction finished on schedule with staged ramp-up underway; Syvajarvi mine built 42,000 tonnes of ore stockpile since first blast on Feb. 11, 2026.


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