| |
| |
Group |
Company |
| R'000 |
2025 |
2024 |
2025 |
2024 |
| Revenue from contracts with customers |
|
|
| |
| Ferrochrome sales* |
2 295 611 |
5 908 878 |
– |
– |
| Chrome ore sales |
3 109 500 |
2 262 221 |
– |
– |
| PGMs concentrate sales** |
389 525 |
267 055 |
– |
– |
|
| 5 794 636 |
8 438 154 |
– |
– |
| Revenue other than from contracts with customers |
|
|
| |
| Management fees |
1 200 |
1 200 |
7 421 |
7 817 |
| Other income*** |
39 041 |
4 108 |
96 |
150 |
| Dividend income |
– |
– |
299 895 |
1 049 633 |
|
| 40 241 |
5 308 |
307 412 |
1 057 600 |
|
| 5 834 877 |
8 443 462 |
307 412 |
1 057 600 |
| * |
Ferrochrome sales includes provisional pricing adjustments of R40 million (2024: R15 million). |
| ** |
All PGMs concentrate sales are to a customer in South Africa. |
| *** |
Other income includes revenue from sale of scraps and silica as well as the fair value adjustment on the Laxness mining right swap. |
Geographical areas of ferrochrome sales to customers
The majority of customers are stainless steel mills located at the following revenue destinations:
| |
2025 |
Restated 2024 |
| Revenue destination |
Revenue
R'000 |
% of revenue
in relation
to total
ferrochrome
revenue |
Revenue
R'000 |
% of revenue
in relation
to total
ferrochrome
revenue |
| Africa* |
119 182 |
5 |
212 617 |
4 |
| Americas** |
341 360 |
15 |
561 354 |
9 |
| Asia |
1 163 970 |
51 |
4 011 749 |
68 |
| China |
791 547 |
34 |
2 521 372 |
43 |
| Indonesia |
140 055 |
6 |
956 702 |
16 |
| Other Asia*** |
232 368 |
10 |
533 675 |
9 |
| Europe*** |
671 099 |
29 |
1 123 158 |
19 |
|
| 2 295 611 |
100 |
5 908 878 |
100 |
| * |
Includes South Africa and Turkey. |
| ** |
Includes Brazil and USA. |
| *** |
Includes China, India, Japan, South Korea, Taiwan and Australia. |
| *** |
Includes Belgium, England, Italy, Netherlands, Slovenia and Spain. |
Geographical areas of chrome ore sales to customers
The geographical areas of ferrochrome and chrome ore disclosure has been restated. Refer to note 41 for detail on the restatement.
| |
2025 |
Restated 2024 |
| Revenue destination |
Revenue
R'000 |
% of revenue
in relation to
total chrome
ore revenue |
Revenue
R'000 |
% of revenue
in relation
to total
chrome ore
revenue |
| Africa* |
200 877 |
6 |
507 967 |
22 |
| Americas** |
31 626 |
1 |
19 689 |
1 |
| Asia |
2 822 609 |
91 |
1 633 558 |
72 |
| China |
2 728 957 |
88 |
1 612 771 |
71 |
| Other Asia*** |
93 652 |
3 |
20 787 |
1 |
| Europe**** |
54 388 |
2 |
101 007 |
5 |
|
| 3 109 500 |
100 |
2 262 221 |
100 |
| * |
Includes South Africa and Egypt. |
| ** |
Includes Argentina, Brazil, Canada, Mexico and USA. |
| *** |
Includes China, India, Japan, South Korea, Taiwan and Australia. |
| **** |
Includes France, Italy, Netherlands and Spain. |
Sales to the following customers individually comprise more than 10% of total ferrochrome sales:
| |
2025 |
2024 |
| Key customers |
Revenue
R'000 |
% of revenue
in relation
to total
ferrochrome
revenue |
Revenue
R'000 |
% of revenue
in relation
to total
ferrochrome
revenue |
| Customer A |
279 797 |
12 |
1 324 230 |
22 |
| Customer B |
243 683 |
11 |
955 912 |
16 |
|
| 523 480 |
23 |
2 280 142 |
38 |
Sales to the following customers individually comprise more than 10% of total chrome ore sales:
| |
2025 |
2024 |
| Key customers |
Revenue
R'000 |
% of revenue
in relation
to total
chrome ore
revenue |
Revenue
R'000 |
% of revenue
in relation
to total
chrome ore
revenue |
| Customer C |
356 372 |
11 |
351 919 |
16 |
|
