Sibanye Stillwater may shut U.S. mine unless palladium price recovers, CEO says

seekingalpha06-27

Sibanye Stillwater (NYSE:SBSW) would be forced to shutter its Montana palladium mine if prices fail to rebound soon, CEO Neal Froneman said Wednesday, according to Bloomberg. "The future of Stillwater...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2446316248?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1266928564/image_1266928564.jpg","is_english":true,"pubTime":"2024-06-27 00:54","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2446316248","market":"fut","top_or_hot":-1,"title":"Sibanye Stillwater may shut U.S. mine unless palladium price recovers, CEO says","media":"seekingalpha","content":"<div>\n<p>Sibanye Stillwater (NYSE:SBSW) would be forced to shutter its Montana palladium mine if prices fail to rebound soon, CEO Neal Froneman said Wednesday, according to Bloomberg. \"The future of Stillwater...</p>\n\n<a href=\"https://seekingalpha.com/news/4119680-sibanye-stillwater-may-shut-us-mine-unless-palladium-price-recovers-ceo-says\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sibanye Stillwater may shut U.S. mine unless palladium price recovers, CEO says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSibanye Stillwater may shut U.S. mine unless palladium price recovers, CEO says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-27 00:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4119680-sibanye-stillwater-may-shut-us-mine-unless-palladium-price-recovers-ceo-says><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sibanye Stillwater (NYSE:SBSW) would be forced to shutter its Montana palladium mine if prices fail to rebound soon, CEO Neal Froneman said Wednesday, according to Bloomberg. \"The future of Stillwater...</p>\n\n<a href=\"https://seekingalpha.com/news/4119680-sibanye-stillwater-may-shut-us-mine-unless-palladium-price-recovers-ceo-says\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4188","symbol_name":"贵重金属与矿石","start_time":0,"source_url":"https://seekingalpha.com/news/4119680-sibanye-stillwater-may-shut-us-mine-unless-palladium-price-recovers-ceo-says","article_id":"2446316248","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1266928564/image_1266928564.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446316248","pubTimestamp":1719420872,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Sibanye Stillwater  would be forced to shutter its Montana palladium mine if prices fail to rebound soon, CEO Neal Froneman said Wednesday, according to Bloomberg. \"The future of Stillwater remains in the balance,\" the CEO said when asked at a London conference about the outlook for the Montana mine. \"If there's no correction in the price soon, as strategic as it is, we will have to put it on care and maintenance.\" Froneman had said in March that the Montana operation remained a \"strategic asset\" and that it was \"not due for closure at this stage.\" Prices for palladium, which is used extensively in catalytic converters that curb auto emissions, have plunged ~70% from a March 2022 peak as future demand is called into question by the shift to electric vehicles. Sibanye  took a $2.1B writedown on its unprofitable U.S. assets earlier this year, citing the impact of weakening metal prices and operational challenges at its U.S. PGM and South African gold operations.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4188":"贵重金属与矿石","SBSW":"Sibanye Gold Limited"},"translate_title":"首席执行官表示，除非钯金价格回升，否则Sibanye Stillwater可能会关闭美国矿山","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SBSW":1},"content_text":"Sibanye Stillwater (NYSE:SBSW) would be forced to shutter its Montana palladium mine if prices fail to rebound soon, CEO Neal Froneman said Wednesday, according to Bloomberg. \"The future of Stillwater remains in the balance,\" the CEO said when asked at a London conference about the outlook for the Montana mine. \"If there's no correction in the price soon, as strategic as it is, we will have to put it on care and maintenance.\" Froneman had said in March that the Montana operation remained a \"strategic asset\" and that it was \"not due for closure at this stage.\" Prices for palladium, which is used extensively in catalytic converters that curb auto emissions, have plunged ~70% from a March 2022 peak as future demand is called into question by the shift to electric vehicles. Sibanye (SBSW) took a $2.1B writedown on its unprofitable U.S. assets earlier this year, citing the impact of weakening metal prices and operational challenges at its U.S. PGM and South African gold operations.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446316248"}