The diversified miner in its first forecast on the year ended Dec. 31 said it expects to post headline earnings per share, the most common profit measure in South Africa, of between 0.6 rand and 0.66 rand ($0.0318-$0.0349), down from 6.52 rand in 2022.

Sibanye and peers including Anglo American Platinum and Impala Platinum saw a sharp fall in earnings in 2023 mainly due to a decline in the prices of palladium and rhodium.

Sibanye, which has gold operations in South Africa and has diversified into clean energy minerals such as lithium, nickel and zinc, has restructured its PGM operations both in the United States and South Africa to keep a lid on costs in the current low-price environment.

The restructuring could result in the loss of 4,095 jobs in Sibanye's South African PGM operations and 300 more in the United States.

On Monday, Anglo American Platinum announced plans to cut 3,700 jobs as it fights to contain costs.

Sibanye said it plans to further "reposition" its U.S. PGM operations and the Sandouville nickel refinery in France to stem losses.

The miner recognised impairments of 47.45 billion rand due to the impact of weakening metal prices and operational challenges at its U.S. PGM and South African gold operations, as well as the Sandouville refinery.

Sibanye is scheduled to release its annual results on March 5.

($1 = 18.8950 rand)

(Reporting by Nelson Banya; editing by Jan Harvey and Jason Neely)