JOHANNESBURG (miningweekly.com) – In monetary yr 2026 (FY26), Mponeng and Moab Khotsong, the high-grade South African underground operations of Concord Gold, produced 15 t at 9 g/t with a 38% free money circulation margin.
Mponeng, the world’s deepest mine, was the first driver of this efficiency as Moab Khotsong strikes into an ore hole.
Furthermore, efficiency from the South African underground optimised operations has additionally strengthened year-on-year. These belongings produced 17 t of gold and margins expanded to 25%, lifting adjusted free money circulation by an exceptional 284% to round R9-billion. (Additionally watch hooked up Creamer Media video.)
As well as, Concord’s floor and retreatment belongings contributed 7 t at a superb 46% margin.
Concord’s large gold retreatment operations present “low-risk, high-margin ounces that generate significant money circulation by recycling previous tailings storage amenities”, Concord CEO Beyers Nel reported on the outcomes presentation of the Johannesburg Inventory Change-listed firm for the 12 months to June 30.
The corporate’s focus going ahead is on delivering and unlocking worth embedded in what it owns. Anticipated past 2030 are stronger margins, decrease actual unit prices, and rising free money circulation.
“Each determination we make is geared toward both bettering security, increasing margins, defending money flows, or creating long-term worth by disciplined capital allocation.
“As our portfolio continues to evolve, we’re happy that the stable FY26 outcomes replicate this high quality and the chance inherent in our reserve base.
“It is this consistency that turned the next gold worth into money certainty. We delivered fairly distinctive earnings progress alongside file shareholder returns.
“Our headline earnings per share elevated by 87% to R43.63 per share, and the corporate has declared a file closing dividend of R7.50 per share for a complete of R8.2-billion for the monetary yr.
“Our lost-time harm frequency price of 5.05 per million hours labored is the bottom in Concord’s 76-year historical past,” Nel added through the presentation lined by Mining Weekly.
INTERNATIONAL ASSETS
Hidden Valley produced virtually 6 t of gold at an all-in sustaining value of round R660 000/kg, or $1 200/oz, with its adjusted silver-supported free money circulation margin growing to 68%.
Within the eight months since acquisition, the now totally built-in CSA produced 18 200 t of copper at $2.47/lb offering a 22% free money circulation margin.
Concord FD Boipelo Lekubo highlighted FY26 as a file yr on monetary metrics akin to income, which elevated by 34% to a file nigh R100-billion. Web revenue elevated by 102% to R30-billion and headline earnings per share elevated by 87%.
“That step up is proof of the working leverage in our portfolio,” Lekubo identified.
Group working money circulation rose by 48% to R33.6-billion and adjusted free money circulation by 54% to a file R17-billion. Money and money equivalents complete R8.6-billion, alongside the CSA acquisition.
Sturdy free money circulation supported a file closing dividend of R4.8-billion, lifting the complete yr dividend to R8.6-billion, a yield of round 3.5% primarily based on the closing share worth on August 25.
“Alongside shareholder returns, it’s critical we stay able to funding our future. In the course of the yr, we carried out a funding platform to help the following part of progress,” Lekubo reported.
GOLDEN FOUNDATION
At Concord, gold stays the muse whereas copper strengthens the portfolio, including diversification, resilience, and future progress.
“However this technique isn’t about quantity. It is a technique about worth, worth created by larger high quality belongings, higher returns, and disciplined capital allocation,” Nel defined.
“Development all the time issues, however provided that it strengthens the portfolio and creates long-term worth. Each rand and each greenback on this enterprise competes for risk-adjusted per share returns. We begin by defending the bottom. Security, asset integrity, mining flexibility, and sustaining capital are crucial. This safeguards our individuals, ensures dependable manufacturing, and protects our money flows.”
The Concord working mannequin is being utilized to CSA, mapping a pathway to 40 000 t of copper per yr. Consequently, the security efficiency has strengthened at CSA with the lost-time harm frequency price at its lowest stage since acquisition.
The principle operational constraint, which is the underground air flow provide, has been addressed.
CSA is delivering on the funding thesis that underpinned the acquisition and intercepts of as much as 12% copper have already been recorded exterior the present mineral useful resource.
The drill programme features a potential extension of greater than 500 m beneath the present mine and to that finish, floor and underground programmes proceed.
On the Eva Copper venture, authentic capital steerage stays unchanged, and first manufacturing continues to be focused for the top of 2028.
In FY26, the Australasian operations contributed 16% to manufacturing. Over the following decade, Australasia is predicted to develop to round 30% of group manufacturing.
It’s value noting that this outlook excludes the Tier 1 Wafi Golpu venture, which is within the allowing course of.
Concord stays an annual 1.4-million to 1.5-million gold-ounce and gold-equivalent producer.
Capital steerage for FY27 is R14.4-billion for gold belongings, R2.1-billion rand for CSA copper, whereas for Eva Copper capital of between $650-million and $680-million is deliberate.
“Concord is a long-life gold producer with copper-driven progress and optionality,” Nel emphasised.
