LONDON - Higher prices for industrial precious metals palladium and platinum have boosted earnings at Sibanye-Stillwater, enabling the miner to repay debt and plan to resume dividends next year, its chief executive Neal Froneman said.The company also expects to halve the number of job cuts previously announced in the gold division to 3,000, Froneman told Reuters in London.
This, combined with production rising after safety disruptions and a strike, will mean a healthy balance sheet next year, Froneman said. Sibanye is in the process of buying South Africa’s Lonmin. South Africa’s Competition Appeals Court will on Friday rule on a union request to block the deal. Shareholders vote on it at the end of May.
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