Production: results for December 2025

Mining production increased by 2,5% year-on-year in December 2025. The largest positive contributors were iron ore (19,0% and contributing 2,7 percentage points) and manganese ore (40,4% and contributing 2,4 percentage points).

PGMs (-7,7% and contributing -2,5 percentage points) and coal (-5,7% and contributing -1,4 percentage points) were the largest negative contributors.

Seasonally adjusted mining production decreased by 1,2% in December 2025 compared with November 2025. This followed month-on-month changes of -5,4% in November 2025 and 2,5% in October 2025.

Total mining production was 0,1% higher in 2025 compared with 2024. The 0,1% increase in annual mining production followed an increase of 0,5% in 2024 and flat growth (0,0%) in 2023.

Seasonally adjusted mining production decreased by 0,5% in the fourth quarter of 2025 compared with the third quarter of 2025. The largest negative contributors were coal (-3,6% and contributing -0,9 of a percentage point) and PGMs
(-2,9% and contributing -0,8 of a percentage point). The largest positive contributor was manganese ore (15,0% and contributing 1,1 percentage points).

Mineral sales: results for December 2025

Mineral sales at current prices increased by 48,1% year-on-year in December 2025. The largest positive contributors were:

·         gold (270,0% and contributing 36,1 percentage points);

·         PGMs (51,4% and contributing 12,3 percentage points); and

·         chromium ore (35,5% and contributing 2,5 percentage points).

Seasonally adjusted mineral sales at current prices increased by 24,1% in December 2025 compared with November 2025. This followed month-on-month changes of -1,6% in November 2025 and -0,3% in October 2025.

Seasonally adjusted mineral sales at current prices increased by 11,4% in the fourth quarter of 2025 compared with the third quarter of 2025.