Impala Platinum Holdings has issued a production update and initial trading statement for the six months ending December 31, 2023. The report details the company's production figures and financial performance, alongside notable events and future projections.
A tragic accident at Impala Rustenburg's 11 Shaft in November 2023 resulted in 13 fatalities and several injuries. Repairs and investigations are ongoing, with partial production resumption expected soon. The incident significantly impacted production, with an estimated loss of 30,000 6E ounces.
Overall, the company reported an 18% increase in gross Group 6E production compared to the previous year, with a 2% like-for-like gain. This increase includes contributions from Impala Bafokeng and improvements across various operations, despite challenges such as safety stoppages and regional power disruptions.
Financially, Impala Platinum expects at least a 20% decrease in headline earnings and earnings per share compared to the previous year, primarily due to weaker dollar PGM pricing. The company will provide more detailed financial results in a subsequent statement.
Impala Platinum's focus remains on safety, production efficiency, and financial stability amid challenging market conditions.
