MINING NEWS
Valterra Platinum headline earnings surge 1633% Platinum miner, Valterra Platinum, reported
outstanding interim results for the six months ended 30 June 2026, delivering a step change in financial performance as stronger platinum group metals (PGM) prices, disciplined operational execution, capital allocation and robust free cash flow generation, strengthened the company’s balance sheet and shareholder returns. Valterra Platinum recorded significant growth across all key financial metrics. Revenue increased 93% to R82 billion, adjusted EBITDA rose 404% to R33.4 billion, and headline earnings per share surged 1633% to R82.02. The company also strengthened its balance sheet, ending the period with a net cash position of R23.7 billion, compared with net debt of R4.9 billion a year earlier. Craig Miller, CEO of Valterra Platinum, said: “Operating as an independent company over the past year has enabled us to sharpen our focus, accelerate decision-making and strengthen execution across the business. This is evident in our
Valterra Platinum revenue increased 93% to R82 billion.
PGM ounces, in line with higher refined production. As a result of our disciplined operational execution and higher PGM prices, we delivered a 4-fold increase in EBITDA to R33.4 billion, the third highest interim profits in our history. As a result, the Board has declared a substantial interim dividend of R15 billion, or R57 per share, equating to 70% of headline earnings. n At the event, Seriti signed a new agreement for a further R10 billion of investment - bringing the total to R25 billion - for two further phases of development, reinforcing long-term confidence in South Africa’s renewable energy sector through continued investment with strategic partners, including Goldwind, Tractionel, and Stefanutti Stocks, and customers including energy traders such as Etana, Energy Exchange and NOA. n
exceptional first-half 2026 performance, which reflects strong operational momentum, advancement in executing on our strategy and creating value for all our stakeholders. Our results were a direct consequence of a solid metal in concentrate (M&C) production increasing by 4% to 1.5 million PGM ounces and sales volumes rising by 18% to 1.7 million
SA’s Just Energy Transition shift – from vision to delivery President Cyril Ramaphosa marked a major milestone in South Africa’s Just Energy Transition (JET) as Seriti Green’s Ummbila Emoyeni Wind Farm officially entered commercial operation. Hosted by Seriti, the event brought together national and provincial create new transmission infrastructure that will survive for decades to come. The Main Transmission Substation (MTS) was delivered in a record 17- month timeframe. “This project underscores the value of the partnership between government, Eskom, the private sector and
government, traditional leaders, local communities, business leaders and international partners to celebrate the completion of 25 turbines, the first 155MW phase of the renewable energy project. In April 2023, the President recognised the diversified energy company at the Fifth Annual Investment Conference in Sandton, acknowledging their R4.5 billion investment in the first phase of the facility. Over the three years since, the investment rose to a R15 billion project with more wind farms under way. The project forms part of a planned 900MW renewable energy programme in Mpumalanga and is supported by the new Vunumoya transmission infrastructure, delivered by Seriti through an investment of around R1.2 billion to
communities. It shows that South Africa’s Just Energy Transition is being realised through practical action,” explained Ramaphosa.
Seriti Green’s Ummbila Emoyeni Wind Farm officially entered commercial operation.
4 MODERN MINING www.modernminingmagazine.co.za | SEPTEMBER 2026
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