JSE-listed Mantengu Mining achieved revenue growth, improved profitability and key operational milestones for the financial year ended February 28, despite external challenges, including volatile chrome prices and severe flooding in Limpopo, which has positioned the company for sustained growth.

Revenue increased to R317.5-million from R109.9-million in the prior financial year. 

Gross profit increased to R106.4-million from R52.6-million in the prior year, owing to the success of cost optimisation and sustainable practices.

Net profit for the year rose to R303.3-million from R1.2-million in the prior year, while net asset value per share increased to R1.78 from 58c in the prior year.

“Our full-year 2025 was a transformative year for Mantengu, marked by record production milestones, strategic acquisitions and a fundamental shift toward sustainable operational efficiency.

“By bringing mining in-house and investing in our own fleet, we reduced our mining costs by over 50% a tonne – a testament to our commitment to innovation, accountability and long-term value creation,” says CFO and executive director Magen Naidoo.

“While external factors impacted our performance, our underlying operational strength, governance rigour and disciplined execution remain robust. Had it not been for the severe flooding and significant decrease in chrome prices at the end of calendar 2024, our net profit would have been R58-million higher.

“We are well-positioned to capitalise on recovering commodity prices and expanded production capacity, always ensuring that our growth is transparent, ethical, and aligned with stakeholder interests,” Naidoo adds.

The company achieved record production at Langpan and a complete upgrade of the Meerust plant.

It also completed strategic acquisitions, including that of Blue Ridge Platinum, Sublime and an iron beneficiation plant.

Mantengu Mining Equipment was established and is expected to enhance self-sufficiency and long-term operational resilience.

“Our financial results reflect both the challenges and triumphs of the past year. The R350-million gain on the Sublime acquisition and the operational turnaround at Meerust Chrome highlight our strategic foresight and disciplined financial management,” Naidoo says.

For the 2026 financial year, Mantengu remains focused on sustainable growth by ramping up production; reducing energy costs through renewables; and operationalising new assets and refinancing debt to drive further efficiencies and profitability.

“We are just beginning to unlock the full potential of our portfolio. With a clear strategy, disciplined execution and an unwavering commitment to integrity and innovation, Mantengu is poised for another year of sustainable growth and value delivery,” Naidoo says.