Strike action pushes miner Sibanye into the red in first half
JOHANNESBURG, Aug 27 (Reuters) - Precious metals producer Sibanye-Stillwater SGLJ.J said on Tuesday it fell into the red in the first half of the year due to a five-month strike at its South African gold operations.
Gold production was hit by the strike over pay and job cuts that ended in April and cost Sibanye more than $100 million in lost revenue.
The diversified miner, which is due to release its first-half results on Thursday, said it expects a headline loss of 54 cents per share for the six months to June 30, compared with headline earnings per share of 4 cents in the year ago period.
As a result, it expects to report an attributable loss of 265 million rand ($17 million) for the period compared with an attributable profit of 77 million rand during the same period a year ago.
($1 = 15.2369 rand)
(Reporting by Tanisha Heiberg; Editing by Susan Fenton)
((Tanisha.Heiberg@thomsonreuters.com; +27117753034; Reuters Messaging: tanisha.heiberg.thomsonreuters.com@reuters.net))
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