Valterra Platinum said it expects its annual profit to rise by as much as 106%, on the back of a record rally in platinum prices and operational cost reductions.
Image credit: Reuters/Siphiwe Sibeko
Valterra said that, under its updated outlook, it expects headline earnings between R15.6bn and R17.3bn in the year ended 31 December, up from R8.4bn rand the previous year.
The earnings for the period were boosted by a 26% increase in prices for the platinum group metals (PGM) basket as well as R5bn worth of operational cost reductions, which more than offset the impact of inflation and R1.7bn in one-off demerger-related costs, it said in a trading statement.
Valterra, the world's top platinum producer by value, was demerged from its restructuring former parent company, Anglo American, last May.
Spot platinum prices hit a record $2,684.43 an ounce, up 27% year-to-date.
The price of platinum, which is used to make catalytic converters that curb vehicle emissions, is being driven up by the European Union's U-turn on a 2035 combustion-engine ban, tight supply and rising investment demand for precious metals.
Valterra will publish its results for the 2025 financial year on 25 February.
