SIBANYE-Stillwater aims to reduce its dependence on Eskom, CEO Neal Froneman said, as the mining firm posted its annual results, which saw its net profit for 2022 nearly halve.
“We are working towards solutions, companies are driving renewable energy projects primarily to reduce their carbon footprint, but of course, it will make them less dependent on Eskom. The problem with renewable energy is that it’s not a baseload. We are looking at some baseload projects, and once we’ve got more definitions around those, we will share them,” he said.
In its results for the six months and year ended December 31, 2022, the diversified metal group posted a 43.7% decline in profit year-on-year of R19 billion. The group declared a final dividend of R1.22 a share, down 35%…