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Valterra Platinum Ltd on Thursday reported higher production on an annual basis for the first quarter for 2026, and left its annual output and cost guidance unchanged. The Rosebank, Johannesburg-based company, formerly called Anglo American Platinum Ltd, delivered total platinum group metal production of 743,500 ounces for the first three months of 2026, up 7% from 696,300 ounces a year earlier, driven by an increase in own-mined volume and purchase of PGM concentrate volumes. But output was down 16% from 880,200 ounces in the fourth quarter of 2025. PGM sales volumes for the first quarter surged 60% to 791,400 ounces from 493,700 a year prior, but dropped 24% from 1.04 million ounces quarter-on-quarter. ‘Operationally, the first quarter of 2026 reflected a strong year-on-year recovery, with metal-in-concentrate PGM production increasing by 7%,’ Valterra Chief Executive Officer Craig Miller said, adding: ‘This improvement follows the severe weather-related disruptions at Amandelbult in Q1 2025.’ Looking ahead, Valterra maintained its 2026 PGM production guidance at between 3.0 million ounces and 3.4 million, up from 3.2 million ounces in 2025. The company said it continued to closely monitor whether the Middle East conflict has an impact on its input costs, but left targeted all-in sustaining cost unchanged at $1,050 per ounce. Shares in Valterra were down 4.0% to R 1,430.15 on Thursday morning in Johannesburg, and were down 3.9% to 6,375.00 pence in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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