Eastplats narrows losses as production ramps up, sets sights on 2026 growth

EASTERN Platinum (Eastplats) has reported a marked improvement in its fourth-quarter performance for 2025, buoyed by stronger production and higher platinum group metals (PGM) sales, even as full-year losses widened due to project impairments and liquidity pressures.

- SIPHELELE DLUDLA

EASTPLATS derives its income from processing PGM and chrome concentrates at the Crocodile River Mine.

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The company, which operates the Crocodile River Mine (CRM) in South Africa’s Bushveld Complex, on Wednesday said that revenue for the fourth quarter of 2025 rose 31.2% to $22.3 million, compared with $17.0m in the same period a year earlier.

This growth was driven primarily by increased PGM production and sales, alongside improved operational efficiencies at its Zandfontein underground section.

Mine operating income showed a dramatic turnaround, shifting from a loss of $7.9m in Q4 2024 to a profit of $6.3m in Q4 2025. Gross margins improved significantly to 28.2% from a negative 46.2%, reflecting both higher output and better cost management.

For the full year, mine operating income more than doubled to $1.7m.

Despite this operational progress, Eastplats remained in the red.