Valterra Platinum nears decision on underground mining shift

Valterra Platinum: Valterra Platinum is a South African mining company and the world's leading primary producer of platinum group metals, with integrated operations spanning mining, processing, smelting, and refining across sites in South Africa and Zimbabwe. Formerly known as Anglo American Platinum, it became an independent publicly listed entity following its demerger from Anglo American in 2025. The company is currently evaluating a shift to underground mining at its flagship Mogalakwena asset to access higher-grade ore as open-pit grades decline. Corporate Strategy: The company is prioritizing internal growth initiatives at its existing portfolio, including Mogalakwena and other assets, over external acquisitions. PGM Sector Outlook: Global production of platinum-group metals is anticipated to decline in the coming years, supporting the strategic value of unlocking deeper reserves at established operations. Mogalakwena Project: Valterra is advancing evaluation of the Sandsloot underground development at its largest platinum mine, with trial mining planned later this year and a final investment decision targeted for 2027.