By Anthony O. Goriainoff

Sibanye-Stillwater Ltd. on Thursday reported a 10% rise in adjusted Ebitda for the third quarter of the year and said its outlook is positive, supported by stabilizing precious metal prices.

The Johannesburg- and New York-listed miner said that quarterly adjusted earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics which strips out exceptional and other items--were $1.02 billion compared with $922 million for the third quarter of 2020.

The company said it produced 293,761 ounces of gold in the period at an average price of $1,781 per ounce, compared with 288,938 ounces at $1,845 per ounce in the year-prior period.

Sibanye-Stillwater backed full-year guidance for between 884,000 ounces and 948,000 ounces of gold from its South African operations. All in sustaining costs have been increased to between $1,690 and $1,742 an ounce, due to higher electricity tariffs and other above-inflation cost increases.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

10-28-21 0825ET