Higher prices, depreciation of the rand gave RBPlat's 2020 performance a boost
Midtier platinum group metals (PGMs) miner Royal Bafokeng Platinum (RBPlat) reports that its earnings for the year ended December 31, 2020, were positively impacted on by a significant increase in the PGMs basket price as a result of improved market conditions and a weaker rand.
The growth in the business and improved market conditions supported significant growth in revenue and operating profit, with revenue expected to be 70% higher year-on-year and earnings before interest, taxes, depreciation and amortisation more than 200% higher year-on-year.
The miner also reports that its total per ounce production cost increased by 4.5%, while that of platinum alone increased by 4.2%, year-on-year.
The miner says it achieved these results despite the impact of the Covid-19 pandemic, and the effective loss of 45 days of production owing to the Alert Level 5 national lockdown that took place from March 2019.
As such, the miner anticipates that basic earnings a share for the period will be between R13.66 and R13.71. This represents an increase of between 5 094% and 5 113%, compared with the basic earnings a share of 26c reported for the year ended December 31, 2019.
Headline earnings a share (HEPS) of between R13.47 and R13.57 are also expected, representing an increase of between 2 573% and 2 592%, compared with HEPS of 50c for the previous corresponding period.
RBPlat expects to release its results for the period on or about March 9.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
