Precious Metals

South Africa’s Impala Platinum (JSE:IMP) is still not at full production following four fatal accidents at its operations. Production at the company’s mines was hit earlier this year by a 5 month strike.

South Africa’s Impala Platinum (JSE:IMP) is still not at full production following four fatal accidents at its operations. Production at the company’s mines was hit earlier this year by a 5 month strike.

As quoted in the press release:

Gross platinum production during the period decreased by 25.5% to 280 000 ounces, compared to 376 000 ounces achieved in the prior corresponding period. This was primarily due to lower production at Impala Rustenburg as it ramps-up operations following the five-month wage strike which ended in June 2014. Lower production from Zimplats, impacted by the Bimha Mine safety closure, and safety and industrial action stoppages at Marula, also impacted production. Platinum production at Mimosa increased by 11%, while Two Rivers maintained production levels at 44 000 platinum ounces. Impala Refining Services (IRS) throughput increased by 11% largely due to the timing of the treatment of stockpiled material.

Implats CEO, Terence Goodlace, said:

Despite these challenges, we expect the Rustenburg operation to achieve full production thereby enabling us to maintain our guidance for the full year, which includes 250 000 ounces and 575 000 ounces of platinum from the Impala Rustenburg operation at the half and full year respectively. Safety remains a critical aspect to delivering on our strategic objectives and we continue to actively engage all key stakeholders involved in our journey towards zero harm.

Click here to read the Impala Platinum (JSE:IMP) press release.

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