Eastplats PGM Output More Than Tripled in 2025 as Chrome Production Surged

Eastplats

Eastplats PGM output more than tripled in 2025 as Eastern Platinum increased production from its South African platinum group metals and chrome operations. Total output of 6E PGMs rose to 24,365oz, up from 8,113oz in 2024.

The increase showed a stronger operational recovery at Eastplats after a low production base in the previous year. PGM concentrate production also rose by 59% on the year to 5,146t, supported by higher activity at the company’s Crocodile River Mine.

Eastplats PGM output growth was accompanied by a sharp rise in chrome concentrate production. Chrome concentrate output climbed to 82,120t in 2025, up 353% from 18,118t a year earlier, giving the company a broader production recovery across both PGMs and chrome.

Crocodile River Mine Supported Higher Production and Revenue

Crocodile River Mine became a key contributor to Eastplats’ improved production profile in 2025. Higher output and stronger sales helped the company increase mine operating income to $1.7mn, up 113% from 2024.

The fourth quarter also showed better operating momentum. Eastplats reduced its fourth-quarter net loss by almost 40% on the year to $7.5mn, mainly because of increased revenue from higher sales and stronger production at Crocodile River Mine.

However, the company still reported a full-year net loss of $18.4mn, compared with a $12.8mn loss in 2024. The wider loss reflected expenses tied to the Mareesburg project, an open-cut PGM mining development in northeastern South Africa.

The result shows the split between operational improvement and project-related financial pressure. Eastplats improved production and mine-level income, but development spending continued to weigh on bottom-line performance.

Zandfontein Ramp-Up Could Lift 2026 Run-of-Mine Volumes

Eastplats plans to ramp up its Zandfontein underground operation in 2026 after the initial restart phase became fully operational last month. The company also plans to increase run-of-mine production by 40,000 t/month in the first half of 2026.

This ramp-up could strengthen Eastplats PGM output if underground production stabilises and feeds consistent concentrate volumes. It could also improve operating leverage if higher volumes spread fixed costs across more material.

The chrome production increase also matters strategically. Chrome concentrate gives Eastplats additional exposure to stainless steel raw material markets, while PGMs remain linked to autocatalysts, hydrogen technologies, electronics, industrial catalysts and specialty applications.

For South Africa’s PGM sector, Eastplats’ growth shows that smaller producers can still improve output despite difficult industry conditions. However, profitability will depend on sustained production discipline, project cost control and market conditions for platinum, palladium, rhodium and chrome.

The Metalnomist Commentary

Eastplats’ 2025 results show a company moving from recovery toward ramp-up, but not yet into clear profitability. The next test will be whether Zandfontein can convert higher run-of-mine volumes into stronger cash generation without adding another layer of cost pressure.