IOL
Impala Platinum’s units in Zimbabwe are on firm footing, with its majority owned Zimplats set to benefit from improved processing capacity and the Mimosa joint venture operation with Sibanye-Stillwater raising production by 7% in the quarter to September.
Zimplats commissioned a solar project during the period under review while it now also has an enlarged furnace complex.
“The operation is now poised to benefit from improved processing capacity and environmental performance, and lower energy costs,” said Implats.
Nico Muller, Implats CEO is holding an optimistic outlook view of the global PGM market despite suppressed PGM prices.
He said “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.
“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 to our operational planning and capital allocation to ensure Implats’ long-term sustainability and ongoing value creation,” he explained.
During the period under review, Implats recorded a 6% decline in managed volumes that slumped to 751 000 ounces while it had a 3% gain from joint ventures whose output stood at 145 000 ounces although third-party receipts were also 19% lower at 50 000 ounces.
The company’s overall production for the quarter sagged by 5% from the previous comparable quarter to 947,000 ounces, reflecting “guided changes in operational parameters” at several group assets.
Implats gross 6E refined and saleable production volumes decreased by 9% to 807 000 ounces while 6E sales volumes were 4% lower at 792 000 ounces.
Tonnes milled from its own managed operations declined by 6% to 7 million tonnes during the quarter, reflecting the revised operating parameters at both Impala Canada and Styldrift as well as the impact of safety stoppages at Impala Rustenburg and BRPM.
The Mimosa mine in Zimbabwe that Implats jointly owns together with Sibanye-Stillwater “delivered a strong operating performance” with tonnes milled increasing by 7% to 750 000 tonnes relative to the prior comparable period. In the prior comparable period, throughput from Mimosa was impeded by power interruptions and a scheduled plant shutdown.
Mimosa also had stable grades of 3.61 grams per tonne, with improved plant stability and higher resultant process recoveries resulting in an 8% increase in 6E concentrate production to 66 000 ounces.
However, excess inventory for Implats increased by 105 000 6E ounces from the end of FY2024 to 495 000 6E ounces as at the end of September.
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