[SMM Flash] Sylvania Reviews Thaba Plan After Lower Feed-Grade Estimates

Published: Sep 21, 2026 15:33

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Sylvania Platinum said in its 15 September annual results that an updated geological model indicated chrome and PGM feed grades at its Thaba joint venture could be below original assumptions. Miningmx reported estimated shortfalls of 15–20% for PGM grades and 8–12% for chrome grades against earlier targets. Sylvania’s FY2026 group output of 95,885 4E PGM oz includes operations beyond Thaba.

The partners are reviewing the mine plan, with an updated life-of-mine plan expected in three to six months. Management says Thaba remains profitable under current assumptions. Lower grades could reduce recoverable metal and project returns; the revised plan and profitability outlook remain subject to that review.

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