Sibanye jumps as market warms to splitComment on this story
Johannesburg - Shares of Sibanye jump more than 6 percent as the market warms to its potential as a stand-alone gold producer.
Sibanye, a spin-off of two South African gold mines from world No. 4 bullion producer Gold Fields, was listed separately on Monday.
Resource analysts said Sibanye is seen as a dividend payer since the mines are mature and have no massive capital needs, so money can be returned to shareholders.
The company aims to return 25-35 percent of normalised earnings as dividends.
Shares are 6.19 percent higher at 14.40 rand.
The stock opened at 13.05 rand on its debut. - Reuters