Impala Platinum (Implats)’s gross 6E output climbed by 2% to 3.25 million 6E ounces as of 30 June 2022 compared to 3.19 million 6E ounces in the prior year.
It said production from managed operations grew by 6% to 2.42 million 6E ounces.
Implats said the Impala Rustenburg's production in South Africa increased by 3% to 1.23 million stock-adjusted 6E ounces despite the severity and frequency of load curtailment affecting operational continuity.
In Zimbabwe, Zimplats benefited from the commissioning of the third concentrator at the end of the first quarter of fiscal year (FY) 2023 and, despite the impact of lower grade and regional power outages, increased 6E matte production by 5% to 611 000 ounces.
Operating momentum at Marula was significantly impacted by periodic community unrest in the second half of the year, which was compounded by the impact of load curtailment, resulting in a 7% reduction from the record 6E concentrate production reached in FY2022, to 241,000 ounces.
Impala Canada's 6E concentrate production grew by 17% to 291 000 ounces due to an increase in underground ore throughput with a better grade.
Implats also reported a maiden contribution of 43 000 6E ounces in concentrate from Royal Bafokeng Platinum (RBPlat), which was reported for the month ending June 30, 2023.
RBPlat became a subsidiary of Implats on 30 May 2023.
Meanwhile, Implats said gross refined and saleable volumes decreased by 4% to 2.96 million 6E ounces, and closed FY2023 with roughly 245 000 6E ounces of excess inventory.
The volume of sales also decreased by 6% to 2.97 million 6E ounces, with minimal destocking of refined metal stockpiles from a fiscal year 2022 basis that was already lowered.
The 16% weakness of the rand exchange rate somewhat offset worse US dollar basket pricing, leading in a 4% drop in group sales revenue to about R36,120 ($1930) per 6E ounce sold.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
