Sibanye Gold Lifts Output, Maintains 2016 Production Forecast
- Gold production rose 13% in first quarter to 360,800 ounces
- Stock declined with peers after gold dropped late Friday
This article is for subscribers only.
Sibanye Gold Ltd., the biggest producer of bullion from South Africa, maintained its full-year forecasts after output rose and costs declined in the first quarter when compared with the same period in 2015.
Sibanye is on track to produce 1.61 million ounces this year at an all-in sustaining cost of $880 an ounce, the Westonaria-based company said in a statement Monday. Production increased 14 percent to 360,800 ounces in the first quarter from a year earlier while costs declined 28 percent to $895 an ounce.