- Implats recorded a 4% decline in platinum production, to 1.82 million 6E ounces for HY to FY25
- Production from managed operations decreased by 5%, reaching 1.47 million 6E ounces
- Amplats predicts headline earnings will fall by 46%, estimating between 7.6 and 9 billion Rand (408.1 million to 484.1 million USD), with HEPS expected to decrease by 36%-46%
Harare-Impala Platinum Holdings (Implats) Limited, a leading South African platinum group metals (PGM) producer, has recorded a 4% decline to 1.82 million 6E ounces for the half year to full year 2025 ended 31 December 2024, down from 1.90 million ounces in the comparative period.
This is according to the group’s latest trading update.
This was due to the strategic labour restructuring and operational adjustments across its assets.
Production from managed operations also experienced a decline of 5%, to 1.47 million 6E ounces.
In Zimbabwe, Zimplats 6E production in matte fell by 15% to 280,000 ounces attributed to the chronic electricity blackouts, however, Mimosa witnessed a 1% rise to 129,000 ounces of 6E in concentrate.
PGMs prices decreased in 2024 by huge margins with the world’s biggest platinum group metals producers scaling back projects while others downsized workforce including Implats, and Amplats.
This, affected production efficacy leading to lower production.
Palladium prices fell by 24% while Rhodium went down by 30%.
As a result of production down-turn accompanied by poor global prices, Amplats is projecting headline earnings to fall by 46% to between 7.6 and 9 billion Rand (408.1 million to 484.1 million US dollars) while headline earnings per share (HEPS) are set to decrease by 36%-46%
However, refined 6E production increased by 2% to 1.79 million 6E ounces, benefitting from increased available processing capacity and fewer power disruptions in the period.
Sales volumes further increased by 5% to 1.77 million 6E ounces, including saleable production from Impala.
''The softer US dollar basket pricing was compounded by appreciation in the rand exchange rate and Group sales revenue decreased to circa R23 800 per 6E ounce sold.''the group said.
The South African rand's appreciation helped lower expenses when converting costs from dollars, as a result, the company generated approximately R6.5 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA).
The capital spending decreased to around R4 billion due to fewer new investments needed as ongoing projects approached completion.
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