In the third quarter of 2024, Sibanye-Stillwater, the world's leading precious metals mining company, reported that its Sandouville refinery produced 2,039tNi of nickel equivalent, a 13% decrease from the same period a year ago. Nickel metal production dropped 5% to 1,835tNi, while nickel salts production fell by 52% to 204tNi.

The decline was due to a shortage of starter sheets caused by an electrical rectifier malfunction and the ramp-up of a new bagging machine. Besides, nickel carbonate production was halted due to low demand.

In the given period, nickel metal sales kept stable at 1,657tNi, but nickel salt sales slid by 6% year on year to 270tNi. Total working capital declined by 19% to US$20 million, and the adjusted EBITDA loss was US$8 million, half of the loss in the third quarter of 2023.