South Africa: On the Podium - RBPlat Becomes Latest Platinum Producer to Yield Record Results


Royal Bafokeng Platinum, a black-owned and mid-tier producer, unveiled record interim results on Tuesday. RBPlat's earnings surge comes in the wake of Anglo American Platinum's (Amplats) record results, a trend expected to be repeated by other miners in this space, such as Sibanye-Stillwater.

Olympic athletes are going for gold, but prices for platinum group metals (PGMs) are leading to some corporate podium performances.

Royal Bafokeng Platinum (RBPlat) on Tuesday posted a record set of interim results, unveiling earnings that have been vaulted skyward by soaring PGM prices, notably for rhodium and palladium -- key catalysts in petrol engines.

"The performance supported further capital returns to its shareholders, with a declaration of a R1.5-billion interim dividend in addition to the R482.3-million buy-back and redemption of a portion of its convertible bonds," the company said in a statement.

By any measure, the company made buckets of cash. Earnings before interest, taxes, depreciation and amortisation (Ebitda) reached almost R5.5-billion compared with almost R2.1-billion in the first six months of 2020. Headline earnings shot up by 465% to R4.87-billion.

RBPlat's assets are the only known deposits of significance that are both shallow and high-grade -- factors that cut costs and lift profits -- on...

AllAfrica publishes around 800 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.