Sylvania Platinum reported record quarterly platinum group metals production for the three months ended September 30, the first quarter of its 2027 financial year. Its Sylvania Dump Operations and the Thaba Joint Venture together declared production of 25,971 four element PGM ounces, or 31,825 ounces on a six element basis, up from 23,868 four element ounces in the prior quarter. The declared figure included 2,360 four element ounces released from work in progress.
Chrome was the faster growing line. Production at the Thaba Joint Venture rose 67 percent to 29,799 tonnes, from 17,889 tonnes in the prior quarter, as third party ore sourcing, improved plant stability, increased run times and higher throughput offset continuing mining performance and run of mine feed quality issues. Plant feed was broadly flat at 395,826 tonnes and PGM plant recovery eased 2 percent to 55.45 percent, so the record came from throughput and the joint venture, not from recovery.
The group generated 62.9 million dollars of net revenue for the quarter, a 30 percent increase on 48.5 million dollars in the prior quarter, on the higher ounce production and an increase in the four element gross basket price. The improvement was not cost free: group cash cost rose 8 percent to 1,121 dollars per four element ounce. Management retained its full year target of 85,000 to 95,000 four element PGM ounces, which remains guidance rather than achieved production. Reported the same week that Implats cut refined output and counted five deaths, Sylvania’s quarter is the other face of South African PGMs: small, surface based and expanding, against large, deep and struggling.