Amandelbult

100%-owned underground PGM complex on the north-western Limb of the Bushveld Complex in Limpopo, between Northam and Thabazimbi, under a mining right covering 141km2. Comprises two mines (Tumela and Dishaba), two concentrators and two chrome recovery plants, with five vertical and seven decline shaft systems to 1.3km depth, mining the Merensky and UG2 reefs by conventional scattered breast, mechanised and opencast methods. Production fell 17% in 2025 after extreme February flooding (a 300mm-in-24-hours event) inundated Tumela Lower (~50% of output); Tumela was fully restored by Q3 2025 with a strong Q4, and flood-defence systems have been upgraded. Interim business-interruption insurance proceeds of R2.3 billion were received.