Impala Platinum (Implats)’s group six-element (6E) refined and saleable production is expected to be between 3.45 million and 3.65 million ounces in the financial year (FY) 2025.
Its refined 6E production, which includes saleable ounces from Impala Bafokeng and Impala Canada, increased by 14% to 3.38 million 6E ounces in FY2024 compared to 2.96 million 6E ounces a year earlier.
It said mining and processing performance benefitted from a notable reduction in the frequency and intensity of load curtailment in South Africa, but Zimbabwe experienced heightened electricity supply constraints.
As a result, Implats estimates that production of about 21 000 6E ounces was foregone across southern African managed and joint venture (JV) operations in the period, while a further 12 000 6E ounces was deferred.
Implats said group unit costs are forecast to rise by up to 5% to be between R21 000 ($1,174) and R22 000 ($1,230) per 6E ounce on a stock-adjusted basis in FY2025.
Group production in FY2025 will be supported by sustained operating momentum at each of Impala Rustenburg, Zimplats, and Mimosa.
Refined volumes will benefit from the partial release of previously accumulated excess inventory, with group sales in line with refined and saleable production.
Meanwhile, Implats realised revenue of R86.4 billion ($4.8 billion), a decrease of 19% compared to R106.5 billion ($5.9 billion), while the cost of sales of R80.9 billion ($4.5 billion) declined by 4%.
Implats also delivered a gross profit of R5.5 billion ($307 million) and an EBITDA of R12.4 billion ($693 million), which was achieved at an EBITDA margin of 14%.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
