(Reporting by Nelson Banya, Editing by Louise Heavens)
May 2 (Reuters) - South Africa's Impala Platinum on Tuesday reported a 10% decline in third quarter
refined platinum group metal (PGM) output, as reduced smelter
availability and intensified power cuts hit production.
A power crisis caused by the frequent breakdown of aged
coal-fired generation plants in South Africa, the world's top
PGM producer, is expected to impact global output of the metals
mostly used by the automotive industry.
In an update, Impala said it produced 662,000 PGM ounces in
the quarter to March 31, compared to 735,000 ounces during the
same period last year.
Impala's primary operations in South Africa were impacted by
planned smelter maintenance as well as reduced power supplies
from state-owned utility Eskom, which has resorted to asking
miners to reduce their electricity use, a practice it calls
"load curtailment".
"Production in the quarter was impacted by lower Group
production volumes and compounded by reduced available smelting
capacity due to scheduled maintenance and the increased severity
and frequency of load curtailment in the quarter," Impala said.
Impala also has operations in Canada and Zimbabwe, which
also has an electricity deficit.
The miner said it still expects its full-year output target,
although at the lower end of its guidance range of 3 and 3.15
million PGM ounces for the full year to June, despite the
operational challenges.
Last month, South Africa's Anglo American Platinum (Amplats) reported a 13% decline in first quarter PGM output,
also blamed on power cuts and plant stoppages.
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