Valterra Platinum has issued a trading statement for the six months ended 30 June 2026, forecasting headline earnings of between R18.5 billion ($1.12 billion) and R22.2 billion ($1.34 billion), representing an increase of more than 1,388% compared to R1.2 billion ($72.7 million) in the prior period.
Basic earnings are expected to increase by more than 3,076% to between R18.6 billion ($1.13 billion) and R22.3 billion ($1.35 billion), up from R600 million ($36.3 million) in the prior period.
The significant earnings increase was supported by an 18% increase in PGM sales volumes and substantially stronger PGM prices, said Valterra.
The PGM dollar basket price increased by 85% to $2,801 per ounce, which translated into a 66% increase in the rand basket price to R45,993 per ounce ($2,786).
It said the uplift in volumes was driven by higher M&C output following the flooding-related disruptions at Amandelbult in the first half of 2025, while proactive rescheduling of planned maintenance and annual stock counts to the third quarter of 2026 facilitated a more even distribution of refined production.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
