Sibanye Stillwater Narrows First-Half Loss Amid Tax Credits, Faces Financial Pressures

Published: Aug 29, 2025 14:01

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South African mining company Sibanye Stillwater reported on Thursday that its first-half loss narrowed to $211 million (compared to a loss of $372 million in the same period last year), primarily due to tax credits from its U.S. palladium operations under the Inflation Reduction Act and restructuring measures at its South African mines. The company confirmed that cumulative tax credits of $285 million from the 2023 fiscal year will be realized in 2026. However, due to a previously recorded impairment of 3.8 billion rand on its U.S. operations (as the credit policy is phased out starting in 2031) and additional impairments in its Finnish operations, overall financial performance remains under pressure. The company has petitioned the U.S. to impose additional tariffs on Russian palladium imports, with a final decision expected within 13 months.

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