Sibanye Cuts US Jobs to Lower Costs After Palladium Price Slumps

From bnnbloomberg.ca

Sibanye Stillwater Ltd. plans to cut jobs at its US platinum-group metals operations to lower costs, after palladium prices slumped this year, shortly after announcing similar moves in South Africa. It’s the latest sign the Johannesburg-listed company, which diversified from gold into PGMs and then battery metals, is bracing for a tougher market environment. It’s already consulting with labor unions in its home country over operating changes that could impact about 7,000 jobs at platinum and gold mines, and this month announced a $500 million convertible bond sale to bolster its balance sheet. The US ... (full story)