Impala Platinum’s (Implats) refined six element (6E) production, which includes saleable ounces from Impala Canada and Impala Bafokeng, fell by 9% to 807 000 ounces in the first quarter of the financial year (FY) 2025 from 885 000 ounces a year earlier.
It said scheduled annual processing maintenance was completed in the period, with refined volumes further impacted by water supply interruptions due to extended Rand Water maintenance activities. Excess inventory increased by 105 000 6E ounces from the end of FY2024 to about 495 000 6E ounces at period end.
Implats said 6E sales volumes also dropped by 4% to 792,000 ounces, including saleable production from Impala Canada and Impala Bafokeng.
However, the company’s chief executive, Nico Muller, said they remain firmly focused on advancing the groups’ competitive position and ensuring their portfolio delivers the operational results required to navigate the PGM pricing cycle.
“Healthy ongoing metal purchases and recent discussions with our core customer base confirm our view of robust demand for our key products over the coming year, with shifts in metal requirements also affirming our assessment of underlying market trends,” he said.
“The macroeconomic and geopolitical uncertainty that has typified the global outlook for much of the past two years has persisted. As a result, we continue to assume a prudent risk-adjusted view of our operational planning and capital allocation to ensure Implats’ long-term sustainability and ongoing value creation.”
Mathew Nyaungwa, Editor in Chief, Rough&Polished
