Impala Platinum returns to a hefty interim profit as higher metal prices pay off, but CEO Nico Muller says a secondary strike by Amcu would be devastating
As Impala Platinum nears the exit of its first shaft as part of a two-year restructuring process, the world’s second-largest platinum miner reported a sharp swing to profit.
The good work done at the Rustenburg mines in returning them to being the key driver of revenue and profit in the business as part of the restructuring could be set back if there was a secondary strike at the mines, said CEO Nico Muller. Platinum in concentrate from its own operations was flat at 678,000oz, despite the restructuring and the closure of the Number 4 shaft.
Platinum sales increased by 19% to 773,000oz. There was a 16% improvement in the price for the basket of PGMs the company sold for the year. “A disposal and outsourcing process has been initiated on 1 Shaft through solicitation of expressions of interest and is expected to conclude in June 2019,” Muller said.
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