Impala Platinum (Implats) group 6E refined production of 1.48 million 6E ounces, including saleable production from Impala Canada, declined by 9% in the six months ended 31 December 2022 (H1 FY2023) compared to 1.62 million ounces, a year earlier.
Implats has operations in Canada, South Africa and Zimbabwe.
Group 6E refined production in the fiscal year 2023 is estimated to be between 3 million and 3.15 million ounces.
It said smelting capacity was constrained by increased load curtailment and the scheduled rebuild of the Number 4 Furnace in Rustenburg, which started in late November 2022.
Implats ended the period with about 140 000 6E ounces of excess inventory.
“Notable rand depreciation resulted in additional inflationary pressures, compounding the impact of high energy and consumables pricing on the translated cost and capital expenditure at the Zimbabwean and Canadian operations,” it said.
Implats said revenue of R57.8 billion increased by 4%, delivering a gross profit of R17.2 billion.
It realised earnings before interest, taxes, depreciation and amortisation (EBITDA) of R24.5 billion at an EBITDA margin of 42%.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Implats has operations in Canada, South Africa and Zimbabwe.
Group 6E refined production in the fiscal year 2023 is estimated to be between 3 million and 3.15 million ounces.
It said smelting capacity was constrained by increased load curtailment and the scheduled rebuild of the Number 4 Furnace in Rustenburg, which started in late November 2022.
Implats ended the period with about 140 000 6E ounces of excess inventory.
“Notable rand depreciation resulted in additional inflationary pressures, compounding the impact of high energy and consumables pricing on the translated cost and capital expenditure at the Zimbabwean and Canadian operations,” it said.
Implats said revenue of R57.8 billion increased by 4%, delivering a gross profit of R17.2 billion.
It realised earnings before interest, taxes, depreciation and amortisation (EBITDA) of R24.5 billion at an EBITDA margin of 42%.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
