JOHANNESBURG (miningweekly.com) – The refined platinum group steel (PGM) manufacturing of South Africa’s Valterra Platinum elevated by 78% to 778 500 ozwithin the first three months of 2026 in contrast with the primary quarter of 2025.
PGM gross sales volumes have been additionally at a 60%-higher 791 400 oz.
Nevertheless, a cell machinery-related incident on the Mototolo PGMs mine on March 27 resulted in Michael Ramodike dropping his life and throughout the quarter, the whole recordable harm frequency fee additionally elevated by 12%.
“The tragic loss is deeply felt throughout the organisation, notably provided that it occurred following a 13-year fatality-free interval at Mototolo mine. Now we have additional bolstered our resolve to remove fatalities throughout our operations. A complete investigation is underway, and the findings shall be totally built-in into our programs and practices to stop the same prevalence,” Valterra CEO Craig Miller reported.
The 7%-higher first-quarter metal-in-concentrate (M&C) enchancment to 743 500 ozfollows the extreme weather-related disruptions at Amandelbult, and in addition contributing to the M&C boosted refined manufacturing surge was the improved use of processing infrastructure, supported by the proactive rescheduling of deliberate upkeep and annual inventory counts into the third quarter of 2026, the Johannesburg Inventory Alternate-listed firm acknowledged in a media launch to Mining Weekly.
“The realignment of processing downtime to durations of upper electrical energy tariffs displays our continued deal with optimising working effectivity and lowering price.
“Waiting for the rest of the 12 months, our priorities are clear. We stay targeted on embedding a tradition of zero hurt, whereas persevering with to advance operational excellence as we unlock additional efficiencies throughout the portfolio.
“With manufacturing stabilised and continued deal with price self-discipline, we’re delivering according to our technique. This positions us nicely to proceed to ship sustainable efficiency and long-term worth for all stakeholders, regardless of the unsure geopolitical panorama, which is impacting the worldwide financial outlook and fuelling enter commodity inflation,” Miller commented.
Refined manufacturing for 2026 is in step with prior estimates at three-million to three.4-million ounces.
Money working unit price steering stays between R19 000 and R20 000 per PGM ounce.
Focused all-in sustaining price of $1 050 per three-element ounce is unchanged and the enter prices impression from the Center East battle continues to be carefully monitored.
Personal-mined manufacturing elevated by 5% to 486 200 ozcompared with the prior interval, owing to larger output from Amandelbult and Mototolo, partially offset by decrease manufacturing at Mogalakwena and Unki.
Mogalakwena’s PGM manufacturing decreased by 6% to 212 300 ozcompared with the prior interval on decrease tonnes milled following the deliberate high-pressure grind rolls crusher upkeep being introduced ahead and decrease built-up head grade ensuing from the strategised mixing of low-grade ore stockpiles.
Amandelbult PGM manufacturing elevated by 43% to 122 800 oz, which is broadly in step with performances in earlier years.
Mototolo’s PGM manufacturing elevated by 3% to 68 200 ozand continued improvement of Der Brochen has resulted in elevated dilution.
Unki’s PGM manufacturing declined by 4% to 51 700 ozwhereas the half-owned Modikwa PGM manufacturing was a 6%-higher 31 200 ozand in addition fashioned a part of the ten%-higher 257 300 ozof bought PGM focus.
Whereas first-quarter manufacturing has traditionally been decrease owing to scheduled annual inventory counts and deliberate upkeep, these actions have now shifted from the primary to the third quarter to align decreased energy consumption with larger winter tariffs, contributing to additional price financial savings. This alteration supported nickel manufacturing’s 41% rise to five 880 t and copper manufacturing’s 26% improve to three 845 t, and first-quarter chrome manufacturing rose by 56% to 283 000 t.
Concerning PGM gross sales, the typical realised basket value elevated strongly to R47 529 per PGM ounce, or $2 911 per PGM ounce, representing year-on-year will increase of 70% in rand phrases and 90% in greenback phrases.
The sturdy value good points throughout the PGMs have been led by ruthenium, platinum and rhodium.
In January, costs scaled multi‑12 months highs earlier than weakening later within the quarter owing to a broader market correction and rising geopolitical tensions.
Regardless of this, giant 12 months‑on‑12 months good points remained intact, supported by sturdy performances from rhodium and the minor PGMs.
Quarter-on-quarter, the realised PGM basket value elevated by 23% in rand phrases and 28% in greenback phrases.
Valterra, which smelts and refines ore from its mines, has PGM advertising and marketing hubs in London, Singapore and Shanghai.
