South African PGM supply was the week's dominant theme. A fatal accident at Sibanye-Stillwater's Hlanganani shaft drew a sharp union response, Statistics South Africa reported the steepest mining output drop in four years with PGMs among the biggest drags, and Tharisa closed its financial year with higher quarterly output even as a separate Sibanye-Stillwater decision highlighted lingering policy risk in South African mining. Platinum, palladium and rhodium all eased into Friday's close.
The week's top stories#
Fatal fall-of-ground incident at Sibanye-Stillwater's Hlanganani shaft draws union censure#
The National Union of Mineworkers said a fall-of-ground incident at Sibanye-Stillwater's Hlanganani shaft killed a mineworker on Friday, 9 October 2026. The union described it as part of a recurring pattern of fall-of-ground fatalities at the company's operations and demanded a thorough, independent probe by the Department of Mineral and Petroleum Resources' Mine Health and Safety Inspectorate, including verification of whether the employer met its statutory safety duties under the Mine Health and Safety Act. Background on the company's operations is on DailyPlatinum's Sibanye-Stillwater production tracker.
South Africa's mining output posts its steepest fall since 2022, with PGMs a leading drag#
Eyewitness News reported that South Africa's mining production fell 12.7% year-on-year in August, worse than the 7% decline recorded in July, citing the latest Statistics South Africa figures. Stats SA's principal survey statistician, Juan-Pierre Terblanche, said this was the largest year-on-year decline since a 13.4% fall in October 2022, and that "platinum group metals, coal and iron ore were the biggest drags on overall growth in August." Mineral sales also fell, down 15.1% year-on-year, with gold sales down 48.6%. The data points to continued fragility in South African primary PGM supply even as prices have strengthened this year. More context is on DailyPlatinum's PGM mining page.
Tharisa lifts fourth-quarter PGM output as Karo project advances#
MiningMX reported that Tharisa's PGM output reached 41,000 ounces in the three months to end-September, a 3.5% increase on the prior quarter, while chrome concentrate production climbed 5.8% to 416,700 tons. Full-year PGM production came in at 153,700oz, up 11%, with chrome output of 1.56 million tons, both in line with the company's own guidance. Tharisa's average PGM basket price for the financial year rose 61% to $2,607/oz, although the metal basket softened in the final quarter to average $2,535/oz. At the company's Karo Platinum project in Zimbabwe, construction has moved into fabrication and structural steel work, with first ore to the mill still targeted for the fourth quarter of 2027 and steady-state output of 220,000 to 230,000 oz a year expected roughly six months after that. More on Tharisa's output profile is on DailyPlatinum's Tharisa production page.
Sibanye-Stillwater proceeds with R6bn Burnstone project despite empowerment-rule uncertainty#
MiningMX reported that Sibanye-Stillwater will proceed with its roughly R6bn Burnstone gold project in Mpumalanga. CEO Richard Stewart told the outlet, "We've made a decision to proceed," while cautioning that pending changes to South Africa's empowerment rules under the Minerals and Petroleum Resources Development Act could still affect the project's economics when its mining licence comes up for renewal in a few years. Burnstone is scoped to produce about 130,000 ounces of gold a year at steady state, with its processing plant expected to start up in 2029. Speaking separately at the Joburg Indaba, the Department of Mineral and Petroleum Resources' deputy director-general for mining, mineral and policy development, Ntokozo Nzimande, said talks with the Minerals Council on the amendment bill had been constructive. Burnstone itself produces gold rather than PGMs, but the regulatory uncertainty it highlights applies equally to Sibanye-Stillwater's South African platinum and palladium operations.
Prices over the week#
Precious metals markets are closed for the weekend; no weekend price moves occurred. According to Kitco's world spot price page, the last quote before Friday's close on 16 October 2026 at 17:00 EST put platinum at $1,626.00/oz, up 0.37% on the day within a $1,607.00 to $1,657.00 range, and palladium at $1,096.00/oz, down 1.62% within a $1,094.00 to $1,169.00 range. Rhodium was quoted at a $8,500.00 bid and $9,500.00 ask, unchanged on the day, within a wide $7,200.00 to $10,600.00 range reflecting thin dealer liquidity in that market.
This week's South African supply data adds to a tight-supply narrative already flagged by the World Platinum Investment Council, whose most recent Platinum Quarterly, published 9 September 2026, revised its 2025 platinum deficit estimate to over 1 million ounces, even as it turned its 2026 forecast to a 265 koz surplus, with above-ground stocks estimated at roughly 3.4 months of demand by year-end. For live reference prices, see DailyPlatinum's platinum, palladium and rhodium price pages.
What to watch next week#
- The outcome of the Mine Health and Safety Inspectorate's investigation into the 9 October fatality at Sibanye-Stillwater's Hlanganani shaft, which NUM has demanded be conducted transparently.
- Progress on South Africa's Minerals and Petroleum Resources Development Act amendments, which Sibanye-Stillwater's Burnstone decision suggests the industry expects to see resolved.
- Tharisa's progress toward first ore from its South African underground development, which the company has targeted for the current quarter.
Sources: National Union of Mineworkers (num.org.za); MiningMX on the Burnstone decision (miningmx.com); Eyewitness News on Stats SA mining data (ewn.co.za); MiningMX on Tharisa's results (miningmx.com); Kitco world spot prices (kitco.com).