JOHANNESBURG (miningweekly.com) – JSE- and LSE-listed Impala Platinum (Implats) on Friday reported that its headline earnings for the six months ended December 31 would increase by between 60% and 70% year-on-year.

Earnings a share are expected to be between 552c and 587c.

“The increase in headline earnings is due to a weakening of the rand/dollar exchange rate and accounting adjustments associated with movements in both the share price and metal prices during the period under review,” the miner said in a statement.

The company’s six months financial results will be released on February 16.

Implats is currently embroiled in industrial action, and on Wednesday fired about 17 000 of its mining staff, bringing platinum production at the world’s number two platinum producer to a standstill.

A process of rehiring staff would begin “soon”.
 

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