London-listed Sylvania Platinum has reported its highest-ever annual production of platinum group metals (PGMs), achieving 81,002 ounces of platinum, palladium, rhodium and gold in the financial year ending June 2025.
The record performance was driven by a robust final quarter, which saw output rise 3% year-over-year to 21,114 ounces.
The production milestone was accompanied by dramatic financial improvements, with quarterly EBITDA nearly doubling to $12.9 million and revenue climbing 15% to $30.3 million.
The company also celebrated its safest year on record, achieving the lowest injury rate in its history.
Operational stability at the Lesedi mine allowed the company to withdraw a Section 189A retrenchment consultation initiated in July 2024, while the Sylvania Dump Operations contributed significantly to the record output. All of Sylvania’s mines are situated in South Africa’s Bushveld Complex.
A key milestone during the year was the commissioning of the Thaba joint venture with Limberg Mining Company, which processes PGM and chrome ores from historic tailings in Limpopo province.
Despite weather-related delays and safety interruptions, the project is expected to reach steady-state production by December 31, 2025.
Financially, Sylvania ended the period with a robust cash balance of $61 million, ensuring funding for ongoing growth initiatives, including a centralised PGM filtration plant scheduled for completion in the second quarter of 2026.
The company also benefited from a 14% increase in the average PGM basket price during the financial year.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
