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Sibanye Stillwater on Monday said it will report a half-year loss hurt by a 7.5 billion rand writedown on its US assets reflecting sliding palladium prices.of between 2.508 rand and 2.772 rand for the six months to June 30 after posting a profit of 2.62 rand per share for the period last year.
There had been a 5% to 8% reduction in medium to long-term market consensus palladium price forecasts assumed for valuation purposes, Sibanye said. The price of palladium, which along with other platinum group metals is used in vehicle exhaust systems to curb emissions, fell 40% in 2023 and is down 10% this year.
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