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(Kitco News) - Impala Platinum (JSE: IMP, Implats), a leading producer of platinum group metals (PGM), reported today that for the year ended 30 June 2023 (FY23), its 6E PGM in concentrate production increased by 2% to 3.25 million ounces from 3.19 million ounces in FY22.
However, the company said its gross refined and saleable volumes declined by 4% to 2.96 million 6E ounces and that Implats ended FY23 with excess inventory of approximately 245,000 6E ounces.
Implats added that due primarily to the impact of weaker dollar PGM pricing and lower refined production as result of load curtailment, the company is expecting headline earnings and headline earnings per share (HEPS) for the period to be at least 20% lower than those reported in the comparative period.
Basic earnings and basic earnings per share (EPS) are also expected to be at least 20% lower than the comparative period, primarily due to the lower dollar PGM basket price, lower refined production, and the impact of accounting adjustments arising on the consolidation of RBPlat.
Implats is a leading producer of platinum group metals. The group is structured around six mining operations and Impala Refining Services, a toll refining business.
The company's operations are located on the Bushveld Complex in South Africa, the Great Dyke in Zimbabwe – the two most significant PGM-bearing ore bodies in the world – and the Canadian Shield, a prominent layered igneous domain.
