2023-04-24 13:43:02 ET
Sibanye Stillwater ( NYSE: SBSW ) said Monday it resumed production at its Stillwater West mine in Montana after repairs to shaft infrastructure that was damaged last month, and should return normal around the end of April.
Sibanye ( SBSW ) said it expects the six-week production stoppage cut production at the mine by ~30K oz of platinum and palladium, equivalent to 7% of the company's U.S. platinum group metal production last year.
The miner stopped production from the lower levels of the shaft after a winder that accesses the deeper levels of the mine was damaged during maintenance.
Access to the upper levels of the Stillwater West mine and the Stillwater East mine was not affected by the incident, so production from these areas as well as from the East Boulder mine continued during the remediation.
Sibanye Stillwater ( SBSW ) has sustained "a difficult year for the company," and U.S. PGM operations are slowly recovering from a one-in-200-year flood event, Fun Trading writes in an analysis published recently on Seeking Alpha .
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Sibanye Stillwater resumes production at U.S. mine after shaft repairs