Valterra Platinum, previously Anglo American Platinum, has delivered stronger financial results for the first six months of June 2026, boosted by a recovery in platinum group metal (PGM) prices and an improvement in its production profile.
The PGM dollar prices increased 85% to $2,801/oz, while the rand-dollar price was 66% higher at R45,993/oz during the half-year under review, paving the way for Valterra to return cash to its shareholders and generate cash.
Valterra recorded its third-highest interim profit in history through a four-fold increase in earnings before interest, taxation, depreciation and ammortisation (ebitda) of R33.4bn.
As a result, the group declared a R32.50 interim dividend or R8.6bn, in line with its policy to pay out 40% of headline earnings and declared an additional R6.5bn interim dividend, or R24.50 a share. That brought the total shareholder returns to a whopping R15.1bn, or R57 a share, representing a payout of 70% of headline earnings.
Output was 4% higher at 1.518-million ounces, including the group’s own-mined PGM production, which increased 9% to 1.011-million ounces, primarily driven by improved performance at the Amandelbult operation following the flooding in February 2025.
We remain resolute in our commitment to creating a workplace where every employee and contractor returns home safely every day
— Craig Miller, Valterra CEO
Valterra CEO Craig Miller said operating as an independent company over the past year has enabled Valterra to sharpen its focus, accelerate decision-making and strengthen execution across the business.
“This is evident in our exceptional first-half 2026 performance, which reflects strong operational momentum, advancement in executing on our strategy and creating value for all our stakeholders,” he said.
However, safety remains a concern as the group recorded three fatalities during the period, up from one during the previous period.
Miller said the group was focused on learning from those tragedies and had since strengthened leadership accountability, engagement and visibility on safety across its operations.
“We remain resolute in our commitment to creating a workplace where every employee and contractor returns home safely every day.”
Looking ahead to the second half of the year, Valterra reaffirmed its 2026 metal-in-concentrate and refined production guidance, saying the business is well positioned to continue the positive delivery momentum through the second half of the year.
TimesLIVE
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