Our Southern Africa PGM operations include underground mining, surface sources, and concentrators located in South Africa at Rustenburg and Marikana, as well as Mimosa in Zimbabwe, which is a 50% joint venture with Implats. Additionally, we operate a base metal refinery (BMR) and a precious metal refinery (PMR), enabling us to have integrated operations from mining to the production of refined precious metal products.
We mine and process PGMs at our South Africa operations from both the UG2 and the Merensky reefs located in the Bushveld Complex, a geologically unique region containing more than 85% of the world’s known PGM mineral resources.
The primary PGMs produced are platinum, palladium and rhodium, which together with gold, are referred to as 4E (3 PGM+Au). 4E Production prill split ratio in 2025 was approximately 59% (2024: 59%) platinum (Pt), 30% (2024: 30%) palladium (Pd), 9% (2024: 9%) rhodium (Rh) and gold (Au) 2% (2024: 2%).
2025 4E PGM production:
1,724,778oz
2025 4E PGM all-in sustaining costs:
R24,193/4Eoz (US$1,353/4Eoz)
4E PGM Mineral Reserves (including projects) at 31 December 2025:
29.5Moz
4E PGM attributable Mineral Resources at 31 December 2025:
176.4Moz
References
- Mineral Resources and Mineral Reserves report 2025
- Analysts’ site visit with Franco-Nevada, January 30, 2025
- SLP: Eastern Platinum Limited (EPL) 2019 -2023
- SLP: Pandora Platinum Mine (Pty) Ltd 2018 – 2022
- SLP: Pooling and Sharing Area (PSA) 2021 – 2025
- SLP: Rustenburg Platinum Mine 2021-2025
- SLP: Western Platinum Proprietary Limited (WPPL) 2019 – 2023
- Mining permit: Dwaalkop
