Sylvania Platinum Reports Record PGM Output, Profit
Sylvania Platinum Reports Record PGM Output, Profit
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Key Points
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Sylvania said all of its operations have remained fatality-free since 2007, with several sites also recording multi-year periods without lost-time injuries.
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The six-pence-per-share FY2026 dividend represented a substantial increase from 2.75 pence in FY2025, with $13.8 million distributed to shareholders.
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At Aurora’s La Pucella target, more than 2,200 metres of the planned 4,000-metre drilling programme had been completed by the end of FY2026; core logging and sampling were under way, with initial results expected in the first half of FY2027.
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Sylvania said FY2027’s focus at the Thaba Joint Venture would be to optimise mining efficiency, run-of-mine feed quality, plant throughput and processing efficiency as the operation continues its ramp-up.
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The Mooinooi tailings storage facilities were commissioned during FY2026, while construction began on new facilities at Lannex and Tweefontein.
Sylvania Platinum delivered record results for FY2026, producing 95,885 ounces of platinum-group metals — an 18% jump from the prior year — while revenue more than doubled to $226.3 million Headtopics. The company's net profit surged to $66.4 million, driven by higher output and a 60% rise in average PGM prices to $2,404 per ounce, allowing it to declare a six-pence-per-share dividend and execute share buybacks.
Sylvania's Thaba Joint Venture ramped up chrome production to 50,317 tonnes of attributable concentrate, while the company ended the year debt-free with $67.2 million in cash. The miner commissioned new infrastructure including a centralized PGM filtration plant and tailings facilities, positioning itself for FY2027 targets of up to 95,000 PGM ounces and 140,000 tonnes of chrome output.
Record Profit Lifted by Strong Commodity Prices
EBITDA surged 289% to $114.2 million as platinum-group metal prices climbed throughout FY2026 Headtopics. The PGM basket — which includes platinum, palladium, rhodium and gold — averaged $2,404 per ounce, a 60% increase year-over-year. This price strength combined with higher production volumes to deliver net profit of $66.4 million, Sylvania's strongest annual result to date.
Shareholder Returns Through Dividends and Buybacks
Sylvania more than doubled its dividend to six pence per share from 2.75 pence in FY2025, distributing $13.8 million to shareholders Mining Journal. The company also launched a share buyback program, acquiring 100,000 ordinary shares on September 15, 2026 at an average price of 89.4 pence per share TipRanks.
Aurora Exploration Advances With Drilling Campaign
Sylvania advanced its Aurora exploration project through a 4,000-meter drilling campaign at the La Pucella target Headtopics. By end of FY2026, over 2,200 metres of drilling had been completed, with core logging and sampling underway. Initial results are expected in the first half of FY2027, marking a key milestone for the company's future growth pipeline.
Safe Operations and Continued Infrastructure Investment
Sylvania reported that all operations have remained fatality-free since 2007, with several sites recording multi-year periods without lost-time injuries Mining Journal. The company commissioned the Mooinooi tailings storage facilities during FY2026 and began construction on new facilities at Lannex and Tweefontein. In FY2027, Sylvania plans to focus on optimizing mining efficiency and plant throughput at the Thaba Joint Venture as it continues its ramp-up phase.
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