Implats expects higher H1 output, earnings a share
JSE-listed Impala Platinum (Implats) expects to report a 10% year-on-year increase in refined platinum production to 800 000 oz for the six months ended December 31, compared with the 727 000 oz produced in the six months ended December 31, 2017.
The increase in refined platinum production is primarily the result of a stock release of about 44 000 oz of platinum and an improved performance from Impala Rustenburg.
During the comparative period, refined production was impacted on by an inventory build-up following furnace maintenance.
Platinum sales volumes are, meanwhile, also expected to increase by 19% year-on-year to 773 000 oz for the six months under review.
In the comparative period, sales volumes were lower than refined metals, primarily as a result of toll metal of 116 000 oz that was returned to a third party.
Owing to an improved rand platinum group metals basket price, and improved safety and operational performances, Implats expects to report both positive basic and headline earnings for the period, compared with losses in the comparative period.
Implats will release its interim results on February 28.
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