South Africa, Sept. 9 -- According to the mining company, the shaft has reached the end of the road.

"Kwezi is a mature underground PGM shaft within the Rustenburg operation where mining has reached the limits of the approved mining license area. As such, and in line with expectations, the shaft is approaching the end of its economic life," it said in a statement.

Kwezi reported losses of around R208m in 2024 and R91m in 2025. Although stronger PGM prices supported positive margins in the first half of 2026, Kwezi is forecast to return to losses during the second half of 2026 as production declines.

In H1 2026, Kwezi produced 20,658 4E ounces, less than 3% of total managed and attributable SA PGM production for the period.

"Unfortunat...