Tharisa PLC (LSE:THS, JSE:THA) said its mine in South Africa had reported the best three months in its history in the final quarter of the year just ended.
Production of platinum and associated metals (PGM) rose 12% quarter on quarter to 43,700oz in the three months to end September and by 11% to 157,800oz year-on-year.
Chrome output rose 4% on a quarterly basis and by 12% over the year to 1.5mln tonnes.
Prices of both metals also improved with the PGM basket up 80% over the year even after a sharp drop in the final three months and chrome 10% higher yoy.
Strong cash generation has also moved the group into a net positive position of US$47.9mln, said the statement.
For the current year, Tharisa forecasts PGM output will rise again to between 165,000-175,000oz and chrome to between 1.75-1.85Mt, though these numbers depend on how the Coronavirus situation develops in southern Africa, it said.
Tharisa started cold commissioning of its Vulcan ultra-fine chrome processing plant this month, which will eventually boost annual production by 25% to 2.0 Mt, while construction has started at the Saleme chrome plant in Zimbabwe.
Phoevos Pouroulis, chief executive, added: "The fourth quarter of our financial year delivered the highest production of PGMs and chrome concentrates in the history of the Tharisa Mine.
"This performance follows several strategic initiatives to optimise the operation, these have built a sustainable platform for Tharisa to deliver further significant growth over the long life of our open pit operations.
"With the FY2022 production guidance provided for the Tharisa Mine, we see further growth particularly from the investment made in the Vulcan plant, which is in the cold commissioning phase and will produce chrome concentrates before the end of 2021.
"In Zimbabwe, the exciting developments with Salene Chrome, in the construction phase, as well as the progress on the development of Karo Platinum, will contribute to Tharisa's growth trajectory over the next two years."
Pouroulis reiterated that miner would deliver on its stated goals of reducing emissions by 30% in 2030 and becoming carbon neutral by 2050