Platinum Group Metals (PGMs)

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Tharisa targets higher PGM production for FY26
Yahoo Finance· 2025-10-15 09:37
Tharisa has announced its production goals for the financial year 2026 (FY26), targeting between 145,000 and 165,000oz of platinum group metals (PGMs), along with between 1.5 million tonnes (mt) and 1.65mt of chrome concentrate. This represents an increase from 138,300oz of PGMs and 1.56mt of chrome concentrate produced in the 2025 fiscal year, which concluded on 30 September. In the final quarter of 2025 (Q4 2025), PGM production rose by 19.7% quarter-on-quarter to 41,300oz, while chrome production incr ...
Tharisa to invest $547m in underground platinum project in South Africa
Yahoo Finance· 2025-10-06 09:03
South Africa-based Tharisa has announced plans to invest $547m (R9.46bn) in an underground platinum group metals (PGM) mining project over the next ten years. The company plans to shift its declining open-pit PGM and chrome co-producing Tharisa mine, located on the Bushveld complex, to underground mining within the next decade. Tharisa CEO Phoevos Pouroulis said: “The underground project is the natural progression for our operations and has been established to increase the life-of-mine development to a ...
Sibanye Stillwater (SBSW) - 2025 H1 - Earnings Call Transcript
2025-08-28 13:02
Financial Data and Key Metrics Changes - Group adjusted EBITDA increased by 120% compared to the same period in 2024, reaching ZAR 10 billion, and even excluding the 45X credits, it was still 51% higher [6][7] - Net debt to adjusted EBITDA improved to 0.89 times, significantly below the market's earlier projections [7] - The total fair value of the 45X credits is projected to increase to ZAR 12.6 billion by 2034, representing 32% of the acquisition value of the Stillwater operations [8] Business Line Data and Key Metrics Changes - South African PGM operations produced 840,400 ounces, a 4% decrease year-on-year, with underground operations consistent at 750,000 ounces [60] - South African gold operations saw a 36% increase in average gold price received, reaching slightly more than ZAR 1.8 million per kilogram, while adjusted EBITDA increased by 118% to ZAR 4.8 billion [66] - Montana PGM operations produced 141,000 ounces at an all-in sustaining cost of $1,207 per ounce, reflecting a 41% decrease in costs compared to pre-restructuring [75] Market Data and Key Metrics Changes - Gold prices increased by 26% in the first half of the year, with average trading volumes reaching $329 billion per day, the highest for any half-year period on record [49] - PGM prices have rallied due to tight supply, with platinum prices outperforming due to lower mine supplies [50] - Lithium market remains oversupplied, with average prices around $9,000 per ton, but recent price movements have seen a rise to over $11,000 per ton due to Chinese government actions [57][58] Company Strategy and Development Direction - The company is focused on commodity diversification, particularly in gold and lithium, to stabilize earnings during volatile market cycles [26] - A multipolarity strategy is being implemented to enhance local supply of critical minerals, with significant investments in lithium projects in Europe [26][29] - Sustainability remains a core aspect of the company's strategy, with recent acquisitions aimed at expanding recycling capabilities [31][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to thrive in a turbulent industry, highlighting a strong earnings trend and decreasing leverage [25][11] - The outlook for the second half of the year is positive, with expectations of improved results driven by higher commodity prices [74] - Management acknowledged challenges in certain operations but emphasized ongoing assessments to optimize production and maintain safety [71][72] Other Important Information - The company reported three fatalities during the reporting period, emphasizing safety as the top priority and ongoing efforts to improve safety metrics [5][23] - A strategic project status was granted for both the Calibre and Galicam projects under the EU Critical Raw Materials Act, providing access to grants and tax credits [29] Q&A Session Summary Question: What is the outlook for dividend payments? - The company has decided not to pay dividends at the interim stage but will review this at year-end, with confidence in returning to dividend-paying territory if commodity prices remain stable [42][43] Question: How is the company addressing the challenges in the gold operations? - Management is actively reviewing the Cliff operations to optimize long-term sustainability and has revised production guidance for managed operations [72][74] Question: What are the expectations for the lithium market? - The company remains bullish on the long-term demand for lithium, forecasting a healthy CAGR for battery electric vehicle production over the next decade [58]
Sibanye Stillwater (SBSW) - 2025 H1 - Earnings Call Presentation
2025-08-28 12:00
Enhancing financial resilience through safe production Operating and financial results for the six months ended 30 June 2025 (H1 2025) Disclaimer FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation may be forward-looking statements. Forward-looking statements may be identif ...