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Zimplats Lifts PGM Output as Milled Volumes and Recoveries Improve

Story Highlights
  • Zimplats increased mined and milled volumes, improving recoveries and boosting 6E concentrate output despite lower head grades.
  • Final metal production jumped as accumulated inventories were processed, while unit costs eased quarter-on-quarter but stayed above last year.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Zimplats Lifts PGM Output as Milled Volumes and Recoveries Improve

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Zimplats Holdings Limited ( (AU:ZIM) ) just unveiled an update.

Zimplats reported a strong operational performance for the quarter ended 31 December 2025, with mined ore volumes up 5% quarter-on-quarter and 15% year-on-year, supported by better underground equipment availability and higher open-pit output. While the 6E head grade was stable versus the prior quarter and slightly lower than a year earlier due to ore mix changes, milled volumes rose 3% sequentially and 12% year-on-year, and concentrator recoveries improved, lifting 6E in concentrate production by 7% from the previous quarter. Metal in final product surged 22% quarter-on-quarter and 35% year-on-year as the company processed accumulated concentrate inventories and benefitted from higher mill throughput, reversing the temporary production constraints experienced during smelter expansion commissioning and furnace repairs. Although cash cost per 6E ounce fell 6% from the prior quarter, it remained 8% above the previous comparable period, underscoring ongoing cost pressures even as operational efficiencies and volume growth enhance Zimplats’ output profile and support its competitive position. Safety performance weakened with two lost-time injuries recorded in the period, though management emphasised the implementation of remedial measures to prevent recurrence.

The most recent analyst rating on (AU:ZIM) stock is a Hold with a A$24.50 price target. To see the full list of analyst forecasts on Zimplats Holdings Limited stock, see the AU:ZIM Stock Forecast page.

More about Zimplats Holdings Limited

Zimplats Holdings Limited is a platinum group metals (PGM) miner operating in Zimbabwe, producing a 6E basket of metals including platinum, palladium, rhodium, ruthenium, iridium and gold, as well as by-product base metals such as nickel, copper and cobalt for global markets. The group’s operations span underground and open-pit mines, concentrators and smelting facilities, positioning it as a key regional supplier in the PGM value chain.

Average Trading Volume: 31,971

Technical Sentiment Signal: Buy

Current Market Cap: A$2.62B

Learn more about ZIM stock on TipRanks’ Stock Analysis page.

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