Sylvania Platinum is a lower-cost producer of platinum group metals (PGMs) (platinum, palladium and rhodium) with operations located in South Africa. The Sylvania Dump Operations (SDO) is comprised of six chrome beneficiation and PGM processing plants focusing on the retreatment of PGM-rich chrome tailings materials from mines in the Bushveld Igneous Complex (BIC). The SDO is the largest PGM producer from chrome tailings re-treatment in the industry. In FY2023, the Company entered into the Thaba Joint Venture (Thaba JV) which comprises chrome beneficiation and PGM processing plants, and which will treat a combination of run of mine (ROM) and historical chrome tailings from the JV partner, adding a full margin chromite concentrate revenue stream. The Group also holds mining rights for PGM projects in the Northern Limb of the BIC.

The Sylvania cash-generating subsidiaries are incorporated in South Africa with the functional currency of these operations being South African Rand (ZAR). Revenues from the sale of PGMs are received in USD and then converted into ZAR.

Corporate and general and administration costs are incurred in USD, Pounds Sterling (GBP) and ZAR.

In order to strengthen the Company’s position as a low-risk specialist in the lower cost production of PGMs, Sylvania operates according to the following business priorities:

• Identifying projects that strike a balance between minimal operational and financial risk while holding the potential for substantial profit margins.
• Ensuring that management teams are consistently well-equipped with the appropriate blend of skills.
• Concentrating on generating cash flow, particularly during periods of economic uncertainty.
• Continuously embracing relevant practices and technology to sustain the Company’s position as a lower quartile producer.

A predominant emphasis of the Company is placed on cash generation, which facilitates the distribution of capital returns to shareholders in line with the Dividend Policy introduced in the 2023 financial year. In line with this policy update, the Board has declared a final dividend of one pence per Ordinary $0.01 Share (Ordinary Share), to be paid on 6 December 2024. This follows the interim dividend of one pence per Ordinary Share paid in April 2024 and a special dividend of one pence per Ordinary Share paid in June 2024, bringing the total annual dividend to three pence per Ordinary Share. A total dividends of $23.3 million were paid during FY2024.

Our vision

To be the best mid-tier platinum and associated metals producer in the world.

Our mission

To grow our low-cost and efficient business by leveraging our existing asset base, and continuing innovation through existing and future strategic partnerships, whilst proactively considering commodity and geographic diversification. Creating value for stakeholders by being an innovative, agile and sustainable operator of choice.

Our values

We value the safety and health of all. We value the fundamental rights of people. We value honesty and integrity. We respect the environment. We value the culture, traditional rights and society in which we operate.

WE VALUE THE SAFETY AND HEALTH OF ALL

WE VALUE THE FUNDAMENTAL RIGHTS OF PEOPLE

WE VALUE HONESTY AND INTEGRITY

WE RESPECT THE ENVIRONMENT

WE VALUE THE CULTURE, TRADITIONAL RIGHTS AND SOCIETY IN WHICH WE OPERATE

Our strategy

In achieving our Vision and Mission, the Board and Management operate according to four focus areas: maintaining safe and profitable production, progressing research and development, strengthening our social license to operate, and evaluating growth opportunities.

Maintaining safe and
profitable production

Progressing R&D and
exploration projects

Strengthening license
to operate

Extrenal growth
opportunites