Tharisa has secured a $300m five-year bond at an 11% coupon to fund the balance of its $545m Karo Platinum project, where first ore to the mill is now expected in the fourth quarter of 2027.

Roy Mulenga·11 September 2026·2 min read

PGM

WPIC now sees 2026 platinum surplus of 265koz after heavy first-half ETF selling

Roy Mulenga·9 September 2026·2 min read

PGM

Waterberg PGM project shifts to phased, gold-weighted plan as partners grow more upbeat

Roy Mulenga·3 September 2026·2 min read

PGM

Implats headline earnings jump thirty-one-fold as PGM price recovery funds R17.1bn in dividends

Impala Platinum lifted headline earnings to R22.9bn in FY2026 from R732m a year earlier as higher precious and base metal prices flowed through, and declared total dividends of 1,855c a share.

Roy Mulenga·3 September 2026·3 min read

PGM

Sibanye-Stillwater's SA PGM EBITDA quadruples to R19.2bn on a 67% higher basket price

Sibanye-Stillwater's South African PGM division generated R19.2bn of adjusted EBITDA in the first half of 2026, up 302%, as the 4E basket rose 67% to R43,996 an ounce and production held steady.

Roy Mulenga·1 September 2026·2 min read

PGM

Northam sets Vision 2031 target of 1.5Moz PGM sales, banks on AI demand

Northam Platinum set a Vision 2031 target of more than 1.5 million ounces of annual PGM sales, with chief executive Paul Dunne citing new industrial demand from artificial intelligence and robotics.

28 August 2026

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Roy Mulenga

·2 min read

PGM

Northam declares record R10 final dividend as headline earnings rise almost eightfold

Northam Platinum's headline earnings per share rose 699% to 3,044.2c in the year to June 2026, and it raised its minimum dividend payout to 40% of headline earnings.

Roy Mulenga·28 August 2026·2 min read

PGM

Tharisa's Karo Platinum signs 25-year special mining lease with Zimbabwe

Karo Platinum has signed a 25-year Special Mining Lease Agreement with the Zimbabwean government covering 23,903ha on the Great Dyke, giving Tharisa the tenure and fiscal certainty it needs to finish the mine.

Roy Mulenga·24 August 2026·2 min read

PGM

Sibanye-Stillwater's Stewart bets the company's future on South African PGMs

Sibanye-Stillwater chief executive Richard Stewart has pivoted the group away from its earlier global diversification strategy back toward its South African PGM operations and a planned doubling of chrome output.

Roy Mulenga·13 August 2026·2 min read

PGM

Southern Palladium wins 30-year mining right for Bengwenyama PGM project

South Africa's mineral resources department has granted Southern Palladium a 30-year mining right for the Bengwenyama PGM project, next to the Modikwa mine, clearing the way for early works.

Roy Mulenga·11 August 2026·2 min read

PGM

Sylvania Platinum closes FY2026 with record 95,885 oz of production

Sylvania Platinum produced a record 95,885 4E PGM ounces in the year to June 2026, though fourth-quarter revenue and EBITDA both fell sharply as the PGM basket price retreated 25% quarter-on-quarter.

Roy Mulenga·31 July 2026·2 min read

PGM

Valterra says Zimbabwe's historic $100m export-proceeds debt remains unresolved

Valterra Platinum is recovering most of its current Zimbabwean export proceeds through tax offsets and central bank payments, but there is still no solution for about $100m owed from previous years.

Roy Mulenga·29 July 2026·2 min read

PGM

Valterra Platinum pays R15.1bn interim dividend as EBITDA quadruples to R33.4bn

Valterra Platinum lifted interim EBITDA to R33.4bn from R6.6bn and declared R57 a share in dividends, a 70% payout, while leaving 2026 production and cost guidance unchanged.

Roy Mulenga·29 July 2026·2 min read

PGM

ARM approves R15.2bn redevelopment of Bokoni platinum mine in Limpopo

African Rainbow Minerals will spend R15.2bn over seven years redeveloping Bokoni in Limpopo, which it placed on care and maintenance in 2025, and will restart the Nkomati nickel mine for R753m.

Roy Mulenga·23 July 2026·2 min read

PGM

Northam opens R6.3bn Zondereinde 3 shaft to extend mine life by 40 years

Northam Platinum has commissioned the new 3 shaft at its Zondereinde mine in Limpopo, a R6.3bn project that took five and a half years and is designed to sustain and grow output from the operation.

Roy Mulenga·22 July 2026·2 min read

PGM

Sibanye-Stillwater appeals US ruling that Russian palladium did no material injury

Sibanye-Stillwater has filed an appeal against the US International Trade Commission's May finding that imports of Russian unwrought palladium did not materially injure the domestic industry.

Roy Mulenga·21 July 2026·2 min read

PGM

Tharisa's Apollo underground portal on track after first blast

Tharisa said its Apollo underground portal remained on time and budget after its first blast in March 2026, part of a $547m transition intended to extend mining at its namesake operation by more than 60 years.

Roy Mulenga·17 July 2026·2 min read

PGM

Tharisa holds guidance as third-quarter PGM output rises but chrome softens

Tharisa produced 39,600oz of PGMs in its third quarter to June 2026, up from 34,300oz, and kept full-year guidance, while warning that chrome prices had eased on weaker stainless steel demand.

Roy Mulenga·14 July 2026·2 min read

PGM

Northam lifts chrome output 17% as Eland ramp-up drives record year

Northam Platinum produced a record 1.69Mt of chrome concentrate in FY2026, with Eland's output up 49.5%, while refined PGM output from its own mines rose 4.4% to 938,754oz.

Roy Mulenga·13 July 2026·2 min read

PGM

Sibanye-Stillwater sets out R20bn of projects to hold PGM output steady to 2035

Sibanye-Stillwater has outlined R20bn of projects to keep a million ounces a year of underground PGM output going until 2050 and to sustain 1.5Moz a year to 2035, with optional growth to 1.8Moz.

Roy Mulenga·23 June 2026·2 min read

PGM

Mimosa revives $130m North Hill project as PGM prices rebound

Mimosa, the Impala Platinum and Sibanye-Stillwater joint venture in Zimbabwe, is reviving a $130m life-extension project after PGM prices recovered from the lows that forced its suspension in 2024.

Roy Mulenga·18 June 2026·2 min read

PGM

Wesizwe Platinum to cut 70% of staff as it abandons phased ramp-up plan

Wesizwe Platinum will cut about 497 of its 706 employees as it scraps a phased ramp-up at its Bakubung mine in favour of jumping directly to 3.5 million tonnes a year of ore.

Roy Mulenga·4 June 2026·2 min read

PGM

Tharisa secures fiscal stability deal with Zimbabwe for $545m Karo project

Tharisa reached agreement with Zimbabwe's government on fiscal stability terms for its $545m Karo Platinum project, including a 15% corporate tax rate and the right to remit dollars to service project debt.

Roy Mulenga·21 May 2026·2 min read

PGM

WPIC sees fourth platinum deficit in 2026 despite first-quarter surplus

The World Platinum Investment Council recorded a 268koz platinum surplus in the first quarter of 2026 as ETF holders sold and mine supply rebounded, but still forecast a 297koz deficit for the year.

Roy Mulenga·18 May 2026·2 min read

Markets

Tracker

Gold$4,390.40/oz+0.55%
Platinum$1,802.20/oz+0.49%
Palladium$1,317.00/oz+0.47%
Rhodium$9,725.00/oz-1.02%
Copper$14,277/t+0.10%