Headline earnings for the year ended 30 June 2026 (F2026) increased by 19% to R3 201 million or R16.60 per share (F2025: R2 695 million or R13.79 per share)
Basic earnings for the year ended 30 June 2026 (F2026) improved to R3 998 million (F2025: R330 million)
A final dividend of R7.00 per share is declared (F2025: R6.00 per share); this brings the total dividend for F2026 to R12.00 per share (F2025: R10.50 per share)
Net cash improved by R3 562 million to R10 171 million at 30 June 2026 (30 June 2025: R6 609 million)
Dividends received from Harmony increased by 113% to R512 million (F2025: R240 million).
The group recorded zero fatalities in F2026 (F2025: three), a significant safety milestone with the last fatality-free year recorded in F2017
The group's lost-time injury frequency rate (LTIFR) improved by 9% to 0.29 per 200 000 man-hours (F2025: 0.31)
The group's total recordable injury frequency rate (TRIFR) regressed by 11% to 0.56 (F2025: 0.50).
US dollar platinum group metals (PGM) basket prices at Two Rivers and Modikwa Mines increased by 68% and 65%, respectively
Earnings at Khumani Mine were adversely affected by the stronger average realised rand versus the US dollar
Iron ore production volumes were lower in F2026, mainly due to Beeshoek Mine being placed on care and maintenance in October 2025
Unit costs remained under pressure due to lower production volumes and above-inflation increases in costs at most of our operations.
Water supply to Khumani Mine remained consistent during F2026, with no significant operational disruptions as a result of water shortages
ARM's PGM operations started receiving up to 50 megawatts (MW) of renewable power from December 2025, with the full 100MW export capacity expected once the grid upgrades are completed in Q1 F2027.
The board approved the development of Bokoni following the completion of the definitive feasibility study (DFS) in June 2026
The board approved the restart of open-pit mining operations and nickel concentrate production at Nkomati; this approval fulfils one of the conditions precedent to the nickel concentrate offtake agreement
Continued collaboration with Transnet via the Ore Users Forum and Manganese Producers Consortium advanced rail and port reforms on the Saldanha and Ngqura corridors, delivering a 1% improvement in export rail performance and enhancing the long-term competitiveness of South African producers.