Sibanye-Stillwater flags $2.5bn write-down on metals prices collapse
Precious metals producer Sibanye-Stillwater (JSE: SSW)(NYSE: SBSW) flagged on Wednesday a 47.5 billion rand ($2.58 billion) impairment on its upcoming 2023 results due to falling prices for the main metals it mines, including palladium, platinum and nickel.
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This chart says industrial metals prices have far to fall
Mining News Pro - After a 26% rise in 2021, copper prices have been lacklustre so far this year, last trading at $4.34 a pound, or $9,550 a tonne on Monday. Nickel has continued its sharp gains of last year, adding another 10% to hit decade highs of $24,000 a tonne while aluminum jumped 42% in 2021 and has kept pace this year.
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Higher precious metals prices bode well for South Africa-based miners
Mining News Pro - Global ratings agency S&P recently undertook positive rating actions on three South Africa-based miners – AngloGold Ashanti, Gold Fields and Sibanye-Stillwater – based on accelerated deleveraging.
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Sibanye-Stillwater posts record Q3 profit on higher metals prices
Mining News Pro - Sibanye-Stillwater said on Thursday third-quarter core earnings reached record levels, boosted by higher metals prices, despite an 18% drop in output at its South African platinum mines.
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Fitch Solutions says volatility to continue driving metals prices lower
Mining News Pro - Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic.
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Fresnillo shares plunge as profits fall short despite precious metals prices rally
Mining News Pro - Shares in Mexico-focused precious metals miner Fresnillo (LON:FRES) hit a three-year low on Tuesday after it reported half-year results that fell short of market expectations.
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SHFE base metals prices down; China market back from holiday
Mining News Agency -Base metals on the SHFE were all down on the Chinese market opening after the one-week holiday.
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