Safety Milestones Achieved
Achieved 13 years fatality-free at Mogalakwena and Mototolo mines, 9 years fatality-free at Amandelbult's Tumela mine, and more than 2.5 years lost time injury-free at the Polokwane smelter. Improved total recordable injury frequency rate by 12% to 1.46.
Successful Demerger and Strategic Progress
Completed the demerger from Anglo American Group, secondary listing on the London Stock Exchange, and established a new brand identity. Concluded the recomposition of the Board and transitioned majority of services internally.
Cost Savings and Operational Efficiency
Delivered ZAR 2.1 billion in cost savings in H1 2025 and on track to meet ZAR 4 billion full-year guidance. Operational excellence initiatives led to improved productivity and concentrator recoveries.
PGM Price Recovery
Realized market price increased by 5% in H1 2025, with prices up about 20% since July.
Strong Balance Sheet and Dividend
Maintained a strong balance sheet with approximately ZAR 5 billion of net debt and declared an interim dividend of ZAR 2 per share or ZAR 0.5 billion.
Sandsloot Underground Project Progress
Completed pre-feasibility study confirming key parameters with reef grade of 4 to 6 grams per tonne. Feasibility study targeted for completion in H1 2027.