Implats’ Q1 Production Down 17 Percent Due to Client Loss

- November 4th, 2013

Reuters reported that Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) saw a 17-percent decline in first-quarter production because a global client is no longer sending it recycled material to process. The company is in the process of looking for a new client.

Reuters reported that Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) saw a 17-percent decline in first-quarter production because a global client is no longer sending it recycled material to process. The company is in the process of looking for a new client.

As quoted in the market news:

The company said production at its recycling unit fell ‘by 31 percent to 181,000 ounces of platinum … This was largely as a result of the cessation of deliveries from a recycling customer.’

Implats spokesman Johan Theron said the undisclosed global client had stopped deliveries in part because of depressed prices for the precious metal used for making emissions-capping catalytic converters in automobiles.

Click here to read the full Reuters report.

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