Aug 28 (Reuters) - Sibanye Stillwater said on

Thursday it narrowed its half-year loss to $211 million, mainly

due to production credits extended to its U.S. palladium

business as well as the restructuring of its South African

mines.

The diversified miner's loss in the six months to June 30

narrowed from $372 million the year before, when it booked a

$407 million impairment on its U.S. operations after cutting its

forecast for palladium prices.

Under the Inflation Reduction Act enacted in 2022, the U.S.

offers credits as an incentive for the domestic production of

critical minerals, including palladium.

"The positive financial outcomes from solid operational

management and decisive restructuring were amplified by the

incorporation of Section 45X credits in terms of the Inflation

Reduction Act," Sibanye said in a statement.

Sibanye said a total $285 million combined estimated credits

from the 2023 financial year had been recognised, boosting

profitability for the first half of 2025. Cash payments are

expected in 2026, it added.