Quarterly UpdatesMay 6, 2026, 11:47 AM
Sibanye Stillwater Q1 Adjusted EBITDA +371% to R19.4B
AI Summary
Sibanye Stillwater reported a strong operational update for Q1 2026, with Group adjusted EBITDA soaring 371% year-on-year to R19.4 billion ($1.2 billion). This significant improvement was driven by higher commodity prices and solid operational performance across its SA PGM, SA gold, US PGM, and Recycling operations. The company also achieved a fatality-free quarter and made progress on its Keliber lithium project, with construction completed on schedule.
Key Highlights
- Group adjusted EBITDA increased by 371% year-on-year to R19.4 billion ($1.2 billion) for Q1 2026.
- SA PGM operations' adjusted EBITDA rose 393% to R12.4 billion ($762 million) with 2% production increase.
- SA gold operations' adjusted EBITDA increased 160% to R4.7 billion ($288 million) due to higher gold prices.
- US PGM operations' adjusted EBITDA was $48 million (R777 million), up 611%, despite 5% lower production.
- Recycling operations' adjusted EBITDA surged 817% to $98 million (R1.6 billion) from increased precious metals recycled.
- Keliber lithium project's concentrator construction completed in January 2026, refinery in April 2026.
- Century zinc retreatment operations' payable zinc production decreased 19% to 20kt due to wet weather and maintenance.
- The Group reported no fatalities during Q1 2026, with a 9% improvement in serious injury frequency rate.