By Kyle Morris


Sibanye-Stillwater Ltd. said in a trading update Wednesday that it expects to report lower earnings per share for the first half of 2022 after booking a reduction in gold production in the second quarter due to strike action.

The Johannesburg-listed precious metals miner said that it expects to report earnings per share and headline earnings per share for the first half of between 402 and 447 South African rand cents (25-27 U.S. cents, or 26-29 cents in a conversion supplied by the company), compared with EPS and HEPS of 843 South African rand cents a year earlier.

Second-quarter gold production from the South African operations fell due to the industrial action between March 9 and June 13.

Production from U.S. platinum group metals operations in the second quarter was also significantly hit by severe regional flooding in Montana, with operations being suspended for a seven-week period, it said.


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


(END) Dow Jones Newswires

08-17-22 0248ET