Sibanye-Stillwater says tariffs open door to better PGM prices

THE slew of tariffs unleashed by US President Donald Trump on Wednesday were an opportunity for platinum miners to re-examine how they sold their metal by bargaining for better prices, said Sibanye-Stillwater CEO designate, Richard Stewart.“What tariffs are telling us is the world is becoming more transactional. Platinum group metals (PGMs) are critical metals and there is an opportunity to treat them as such,” said Stewart on the sidelines of the PGM Day, a mining conference.Sibanye-Stillwater is in line for R4.8bn in US government subsidies, some retrospective, that would almost bring its Stillwater mine in Montana to break-even. This is in line with the US government’s strategy to develop local critical metals supply.Similarly, Stewart said South Africa’s PGM miners ought to leverage their low emission metal supply as a “high quality” metal and charge a premium for it.“In the short term tariffs will have dampener on global growth especially in terms of buying cars,” said Stewart. “So we see short term risk, but longer term they open doors on critical metals and on regional supply chains.”He added that Sibanye-Stillwater did not expect a flip-flop from Trump’s administration regarding the subsidies due to Stillwater, even though they are part of the Inflation Reduction Act, legislation passed under former President Joe Biden’s administration. Known  as S45X (Section 45X of the IRA), they comprise historic and current tax credits totalling $121m in Ebitda to Stillwater.“We don’t think it is a sigificant risk [S45X is overturned] as it is embedded in law and it is supportive of what Trump is doing,” said Stewart. “Because of government support we can keep this 40-year asset; we can keep its optionality open for when the cycle turns”. The post Sibanye-Stillwater says tariffs open door to better PGM prices appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com