Eastern Platinum has reported revenue of $7.9 million for the second quarter of 2026, a 25.8% decrease from $10.7 million in the same period last year, as monthly run-of-mine processing tonnages at the Crocodile River Mine (CRM) in South Africa fell short of targets.
The company reported a net loss attributable to equity shareholders of $6.1 million compared to a net loss of $1.8 million in Q2 2025.
The increase in net loss was primarily due to lower overall sales and higher production costs incurred at the CRM.
Mine operating income decreased by $4.6 million to a loss of $4.2 million.
The decrease was mainly due to lower PGM sales and higher production costs.
For the six months ended June 30, 2026, revenue decreased 14.8% to $21.7 million, while the net loss attributable to equity shareholders was $10.2 million compared to a loss of $8.7 million in the first half of 2025.
PGM ounces produced for the quarter decreased to 4,356 ounces (6E) from 6,781 ounces in Q2 2025, while chrome concentrate production fell to 14,921 tonnes from 19,768 tonnes in the comparative period.
Approximately 78% of revenue in Q2 2026 was derived from PGM concentrate sales to Impala Platinum under related offtake agreements.
“We had a challenging second quarter as monthly run-of-mine processing tonnages at the Crocodile River Mine were lower than targeted. We will continue to focus on operational efficiencies to improve PGM and chrome production,” said company interim chief executive Charlie Liu.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
