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Alternatively, direct your complaint to
Michelle Snyders, Implats Group Internal Audit Forensic, at +27 82 304 4598 or email michelle.snyders@implats.co.za

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Mineral Resources and Mineral Reserves Statement

Mineral Resources and Mineral Reserves Statement

The Mineral Resource and Mineral Reserve Statement as at 30 June 2026 reflects the benefit of the positive long-term pricing outlook for the significant PGMs Implats produces, as well as the capital investment in material projects in the period under review.

The attributable Group Mineral Resource estimate decreased by 6.3Moz 6E to 308.7Moz 6E and the attributable Group Mineral Reserve estimate increased by 4.7Moz 6E to 53.8Moz 6E.

Group operations

Key features Summary
Operations Six mining and processing operations plus Impala Refining Services (IRS)
Combined production FY2026 33.8 million tonnes milled
Locations Bushveld Complex (South Africa), Great Dyke (Zimbabwe), and Canadian Shield (Canada)
North West province, South Africa Impala Rustenburg and Afplats
Limpopo province, South Africa Marula, Two Rivers and the Waterberg joint-venture project
Mashonaland West province, Zimbabwe Zimplats
Midland province, Zimbabwe Mimosa
Ontario province, Canada Lac des Iles
2.0%
Attributable Mineral Resources
June 2026
308.7Moz 6E
June 2025
Prominent changes (Moz 6E)
  • Implats decreased by 6.3Moz 6E
  • Total production depletion of 4.0Moz 6E
  • 1.1Moz 6E decrease due to model update at Impala Rustenburg with the consolidation of Impala Bafokeng
  • 1.3Moz 6E decrease at Two Rivers is attributable to updates to the Merensky and UG2 Reef models
  • 0.1Moz 6E addition at Marula, Zimplats, Mimosa and Lac des Iles due to areas added and model updates.
9.6%
Attributable Mineral Reserves
June 2026
53.8Moz 6E
June 2025
Prominent changes (Moz 6E)
  • Implats increased by 4.7Moz 6E
  • Total production depletion of 3.2Moz 6E
  • 3.3Moz 6E increase at Impala Rustenburg, inclusion of 20 Shaft Merensky and UG2 due to project and model updates
  • 1.0Moz 6E added at Zimplats from Mineral Resource conversion and inclusion in LoM I
  • 0.9Moz 6E increase at Marula, deepening of the UG2 mine plan
  • 0.2Moz 6E increase at Lac des Iles due to model update
  • 2.5Moz 6E total increase from a positive economic outlook.
Graph
Attributable estimates     2026   2025 2024 2023 2022
Mineral Resources* Moz Pt   152.1   155.2 156.3 127.1 128.2
  Moz Pd   95.4   97.4 97.4 85.4 87.7
  Moz 3E   259.6   264.7 266.1 223.3 227.7
  Moz 4E   277.2   283.0 284.2 237.7 242.4
  Moz 6E   308.7   315.0 316.5 262.7 268.6
  Mt   1 977.6   2 021.7 2 031.4 1 800.2 1 834.6
Mineral Reserves Moz Pt   26.6   24.2 26.3 24.3 25.5
  Moz Pd   17.0   15.7 18.0 18.4 19.7
  Moz 3E   45.9   42.2 46.7 45.3 47.8
  Moz 4E   48.8   44.7 49.6 48.0 50.7
  Moz 6E   53.8   49.1 54.6 52.5 55.7
  Mt   480.2   441.5 489.7 506.0 528.2

* Mineral Resource estimates are inclusive of Mineral Reserves.

Hover over a row in the table to the left to populate this graph

Summary Mineral Resources

Overall, the attributable Group Mineral Resource estimate decreased by 6.3Moz to 308.7Moz 6E. Impala Rustenburg accounts for 44% of the Group’s Mineral Resource base, Zimplats accounts for 31%, and the balance of 25% comprises Two Rivers, Marula, Mimosa, Lac des Iles, Afplats and Waterberg.

Attributable Mineral Resource estimate of 308.7Moz 6E

as at 30 June 2026 (%)

Attributable Mineral Resource estimate

as at 30 June 2026 (variance Moz 6E)

Summary Mineral Reserves

Overall, the attributable Group Mineral Reserve estimate increased by 4.7Moz 6E to 53.8Moz 6E. Impala Rustenburg accounts for 47% and Zimplats for 41% of the attributable 6E Mineral Reserve estimate base and the balance of 12% comprises Two Rivers, Marula, Mimosa, and Lac des Iles.

Attributable Mineral Reserve estimate of 53.8Moz 6E

as at 30 June 2026 (%)

Attributable Mineral Reserve estimate

as at 30 June 2026 (variance Moz 6E)