Sibanye Stillwater Limited (NYSE:SBSW) Q2 2024 Earnings Call Transcript September 12, 2024 8:00 AM ET

Company Participants

Neal Froneman - CEO
Richard Stewart - Chief Regional Officer, Southern Africa
Mika Seitovirta - Chief Regional Officer, Europe
Charl Keyter - CFO
Robert Van Niekerk - Chief Technical and Innovation Officer
Charles Carter - Chief Regional Officer, Americas
Grant Stuart - Head of Recycling
James Wellsted - EVP, IR and Corporate Affairs

Conference Call Participants

Chris Nicholson - RMB Morgan Stanley
Adrian Hammond - SBG Securities
Rene Hochreiter - Sieberana Research, NOAH Capital
Nkateko Mathonsi - Investec Bank
Leroy Mnguni - HSBC

Neal Froneman

Ladies and gentlemen, good afternoon and good morning. On behalf of the C-suite, welcome and thank you for taking time out of your busy schedules. At our 2023 year-end results in February, we made a commitment to focus on our balance sheet. Today, I hope you will recognize the tremendous effort from the Sibanye Stillwater team in doing just that. And hence the theme of the H1 2024 presentation is reflected in the presentation title, and let me read it. It says, delivering on our commitment to strengthen the balance sheet while also increasing liquidity.

Please take note of our safe harbor statement. The agenda for today includes a brief strategic context. That will be led by myself and essentially it all starts and ends in the market. And you will see what I'm referring to when we get into that. I will also cover the salient features for the first half of 2024. Charl Keyter, our CFO, will then complete the financial review, after which he will hand over to our chief regional officers who will each cover their regions. We have Richard Stewart doing the South African region, we have Mika Seitovirta doing the European region, Charles Carter will do the US region, and Robert Van Niekerk who's also our Chief Technical and Innovation Officer is also the Chief Regional Officer for Australia and he will cover the Australian region.

So our 3D strategy is well known to the market. There's just a few points that I want to make, and I'm not going to go through all the detail on the slide. Our Board, together with the executive, have recently been through an extensive strategic review. And we remain confident that our strategy is relevant and delivering on shared value remains a keen focus for us. Our focus however remains on the strategic essentials especially through the current commodity price cycle. There are two other things that I want to mention that I think are relevant to the discussion today. Despite the noise that is creeping into the debate regarding the relevance of ESG, we as a company remain steadfast in our view regarding the importance and the relevance of ESG. We believe it's a good business practice and it will remain embedded as the way we do business. I also read much around the issues of diversity with suggestions that if you go work, you go broke. And again, I think that's such nonsense. We will continue to drive inclusivity, diversity, and belonging as we believe it creates a competitive advantage for a company like ourselves.