Zimplats Profits Rise

Apr. 30, 2012 03:50PM PST

Reuters reported Impala Platinum’s (JSE:IMP) Zimbabwe unit Zimplats reported a 170 percent jump in third-quarter profit on Monday, buoyed by higher platinum prices.

As quoted in the market news:

Zimplats said January to March operating profit rose to $52 million from $19 million the previous quarter. Revenue, at $128 million, was 32 percent higher than the last quarter.
The company said production dropped by two percent to 90,557 ounces after an illegal strike by some workers and electricity cuts, which affected operations at the mine’s platinum matte furnace.

Click here to read the full Reuters report.