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Implats 3Q PGM Production Slips; Backs Full-Year Guidance


Provided by
Dow Jones
By Jaime Llinares Taboada
Impala Platinum Holdings Ltd. on Friday reported that its production of platinum group metals fell in the fiscal third quarter, but reaffirmed full-year guidance.
The South African mining company refined 800,000 ounces of 6E platinum group metals platinum, palladium, rhodium, iridium, ruthenium and gold in the three months ended March 31, it said. This was down from 862,000 ounces a year earlier, when the company undertook a material reduction in excess accumulated inventory.
Conversely, sales volumes increased 14% to 862,000 ounces in the period, the company said.
In addition, Implats reaffirmed full-year guidance of 3.2 million-3.5 million ounces, with adjusted operating costs of 14,600 rand-15,100 rand ($1,026-$1,061) per 6E ounce, and capital expenditure of ZAR5.8 billion-ZAR6.2 billion. ....

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