- Implats plans to lift refined volumes through improved processing capacity at Rustenburg and Zimplats, supported by an optimised operating strategy, enhanced maintenance, and inventory drawdowns projected until FY2029
- Group 6E production slipped 3% to 3.55Moz due to operational and safety stoppages
- The Group maintained a strong balance sheet with R8.1 billion net cash, declared a final dividend of R1.5 billion, and advanced decarbonisation initiatives, including a 38MW smelter, solar projects at Zimplats
Harare - Impala Platinum Holdings Limited (Implats) a leading South African platinum group metals (PGM) producer plans to redefine its volumes from improved processing availability at Impala Rustenburg and Zimplats , according to the latest press release.
The improvement is underpinned on optimised operating strategy, enhanced maintenance protocols, and the steady drawdown of accumulated inventory a process projected to run until FY2029.
‘’ Refined volumes are expected to benefit from improved annual processing availability at both Impala Rustenburg and Zimplats, ‘’Chief Executive Nico Muller said
This forward-looking guidance sets the tone for Implats’ ambitions in the new financial year, even as its FY2025 performance reflected the challenges of a volatile operating environment.
For the year ended 30 June 2025,the group 6E production slipped 3% to 3.55 million ounces, impacted by constrained throughput at Zimplats, safety stoppages at Rustenburg, and operational adjustments at Marula and Impala Canada.
Managed operations declined 4% to 2.80 million ounces, while joint ventures such as Mimosa and Two Rivers helped offset some of the drag.
Financially, muted rand PGM prices and weaker sales volumes eroded profitability. Gains from higher dollar metal prices were effectively cancelled out by rand strength, leaving headline earnings down 70% to R732 million and margins compressed to just 3%.
Nevertheless, the Group generated EBITDA of R9.9 billion, free cash flow of R2.4 billion, and closed with a robust net cash position of R8.1 billion and liquidity headroom of R19.7 billion.
Despite the earnings slump, the board declared a final dividend of 165 cents per share, amounting to R1.5 billion, representing a payout of around 60% of adjusted free cash flow.
Among the highlights was the commissioning of a 38MW smelter and the first 35MW phase of a solar project at Zimplats, with board approval secured for a further 45MW expansion.
These renewable initiatives, alongside a five-year supply agreement to source wind and solar power for South African refineries, form the backbone of Implats’ pledge to achieve carbon neutrality by 2050.
Looking ahead, Implats expects refined and saleable 6E production of 3.4–3.6 million ounces in FY2026, with cost guidance between R23,500 and R24,500 per ounce.
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