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Sibanye ‘Will Have to’ Shutter US Mine Unless Palladium Recovers
Sibanye Stillwater Ltd. will be forced to halt operations at its Montana palladium mine if prices don’t recover soon, according to Chief Executive Office Neal Froneman. “The future of Stillwater remains in the balance,” the CEO said on Tuesday, when asked at a London conference about the outlook for the mine. “I mean it’s as simple as that. If there’s no correction in the price soon, as strategic as it is, we will have to put it on care and maintenance.” Sibanye took a $2.1 billion writedown on its unprofitable US assets earlier this year, citing a combination of plunging prices, rising costs and ... (full story)