Impala Platinum’s (Implats) has recorded a 6% decline in ruthenium, rhodium, palladium, osmium, iridium, and platinum (6E) concentrate production to 809 000 oz for the quarter ended September 30 – the first quarter of its 2022 financial year compared to 859 000 oz, a year earlier.
It said managed volumes also eased by 5% to 592 000 oz from the previous year’s 623 000 oz.
The joint venture (JV) production fell 3% to 138 000 oz compared to 142 000 oz the same period last year.
Gross 6E refined and saleable production volumes dropped by 15% to 741 000 oz, in line with scheduled processing maintenance.
Gross tonnes milled at managed operations decreased by 6% to 5.7-million tonnes during the quarter, with lower volumes reported at Impala Rustenburg and Impala Canada offsetting gains at Zimplats, in Zimbabwe.
Implats chief executive Nico Muller said PGM markets are experiencing heightened volatility due to global macroeconomic factors and supply-chain constraints impacting automotive production.
Meanwhile, the company recorded stable 6E sales volumes of 707 000 oz for the quarter.
“We continue to benefit from robust absolute pricing for our products,” said Muller.
“The sustained demand from our customer base is indicative of the strong underlying fundamentals for PGMs.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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