Sibanye Stillwater posts $394 million loss on weak prices, US impairment

Reuters09-12

Sept 12 (Reuters) - Sibanye Stillwater on Thursday reported a 7.1 billion rand ($394.42 million) half-year loss after writing down the carrying value of its U.S. palladium operations due to lower metal prices.

The Johannesburg-based precious metal producer recognised a $407 million impairment on the U.S operations due to a lower palladium price forecast.

($1 = 18.0011 rand)

(Reporting by Nelson Banya)

((Nelson.Banya@thomsonreuters.com;))

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