Sylvania reports record quarterly PGM production, jump in earnings

Sylvania Platinum reported record quarterly platinum group metals (PGM) production and a sharp rise in earnings for the three months ended 30 September on Thursday, marking a strong start to its 2026 financial year.

Sylvania Platinum Ltd (DI)
30 October 2025 10:31:51

Source: Sharecast

The AIM-traded South African producer said output from its Sylvania Dump Operations (SDO) rose 16% quarter on quarter to 24,522 4E ounces (31,234 6E ounces), the highest quarterly PGM production since the group’s inception.

Net revenue climbed 49% to $45.1m, while group EBITDA surged 71% to $22m from $12.9m in the prior quarter.

“The company had an impressive start to the 2026 financial year with quarterly production recording 24,522 4E PGM ounces from the SDO during the period, a 16% increase on the fourth quarter of 2025,” said chief executive Jaco Prinsloo.

“The average 4E gross basket price increased by 20% in US dollar terms and 16% in South African rand terms, which, alongside the increase in production ounces, saw an improved 4E revenue performance - up 46% in USD terms and 41% in ZAR terms - compared to the last quarter of FY25.

“Group EBITDA for the quarter from SDO rose to $22m, which is a significant 71% increase quarter-on-quarter.

“The increase is mainly due to higher production and the increased PGM basket price during the period.”

Sylvania said commissioning of its Thaba joint venture was completed during the quarter, with first chrome and PGM concentrates dispatched shortly after the period ended.

Steady-state production from Thaba was expected in the third quarter of 2026.

Both the SDO and Thaba JV reported no lost-time injuries during the quarter.

The group said construction of its new centralised PGM filtration plant remained on budget and on schedule for completion in the second quarter.

Full-year production guidance remained unchanged at 83,000 to 86,000 4E PGM ounces and between 100,000 and 130,000 tonnes of chromite concentrate.

Prinsloo said the company had streamlined its quarterly reporting to focus on key operational and financial metrics, with more detailed updates to follow in its interim and annual reports.

At 1013 GMT, shares in Sylvania Platinum were up 0.71% at 85.6p.

Reporting by Josh White for Sharecast.com.

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