Top 3 ASX platinum stocks->ZIM, SPD, POD

The top three ASX platinum stocks, Zimplats, Southern Palladium and Podium Minerals, are making progress in production, project development and processing improvements with plans to support future growth.

Zimplats Holdings Ltd (ASX: ZIM), on 28 August 2026, informed FY2026 revenue of US$1.3 billion, improved 57%, while profit after tax rose to US$276.7 million from US$40.5 million. Ore mined increased 9% to 8.4 million tonnes and milled volumes grew 8% to 8.0 million tonnes. Free cash flow after growth capital reached US$31 million.

In its 30 July 2026 quarterly report, the company recorded 173,186 ounces of 6E metal in concentrate, up 9% quarter-on-quarter. Converter matte production increased 179% to 213,190 ounces after processing stored concentrate. South Pit Mine reached depletion at June-end. Furnace maintenance is planned for September and October 2026.

Capital expenditure for FY2026 totalled US$153 million. Mupani Mine development remains on track for 3.6 million tonnes annual capacity by FY2029. Smelter expansion spending reached US$478 million, while the 45MW solar project remains scheduled for FY2027 completion. TSF Phase 1 achieved technical completion, and Phase 2 progressed toward securing concentrator operations through FY2049.

Southern Palladium Ltd (ASX: SPD), on 13 October 2026, reported an updated prefeasibility study for its 70% owned Bengwenyama PGM chrome project in South Africa. Post tax NPV increased 129% to US$1.961 billion, while IRR rose to 39.1% with a 2.8 year payback period. Peak funding is estimated at US$329 million.

The updated study projects 17.2 million tonnes of chrome concentrate over a 33-year mine life, alongside 7.7 million ounces of recovered 6E metals. Chrome recovery improved to 85.6%, and the all-in sustaining cost margin reached 57%. The definitive feasibility study is expected by the end of Q1 2027.

On 28 September 2026, SPD’s annual results report detailed progress in mine design, metallurgical testing, infrastructure engineering and environmental approvals. The Bengwenyama project covers 5,280 hectares in Limpopo Province. On 7 August 2026, the Mining Right was granted for an initial 30-year period, allowing development planning to advance, subject to outstanding permits for early construction work.

Podium Minerals Ltd (ASX: POD), on 14 October 2026, reported improved performance at its proposed Parks Reef concentrator. Flotation 3E recovery increased 31% to 67%, while overall copper recovery rose to 81%. Combined product grade improved 18% to 97 g/t 3E, with chrome content remaining below 0.12%. The improved results could help reduce circuit size by around 50% and power needs by 40%.

The company signed a non-binding MOU with US-based PGM Processing LLC to explore an Australia-US supply chain. Plans include possible processing facilities in Western Australia or expansion of the Oklahoma facility, along with US sales channels. The next step is a detailed binding collaboration agreement.

Podium completed an underwritten A$4 million share purchase plan at A$0.034 per share. Funds will support metallurgical testing, site work and general expenses. The company will test concentrator performance across representative sulphide ore from Target Starter Mine #1.