File picture: Siphiwe Sibeko/Reuters

JOHANNESBURG - Sibanye Stillwater reported a 4% quarter-on-quarter rise in gold production and a 41% jump in group operating profit on the back of higher commodity prices. 

The mining company, which last year bought Stillwater, the only US platinum producer, in a $2.2billion (R31.2bn) deal, said gold production rose to 11576kg in the three months to September 30, while group operating profit was $216.8million. 

“The group operating results for the September 2017 quarter reflect continued improvements during the year, underpinned by higher commodity prices and a more positive commodity price outlook,” the company said in a statement. The group in August said it would restructure operations in its domestic market, addressing under-performing gold operations and that the restructuring process was progressing well. 

- REUTERS