Impala Platinum reports production decline in March quarter, notes 'challenging' operating environment

- Impala Platinum , a leading producer of platinum group metals , reported today that in the March quarter of 2023, its 6E PGM in concentrate production declined by 5% y-o-y to 735,000 ounces.

Implats explained that refined 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. "In addition to load curtailment at South African managed and JV operations, severe loadshedding was also experienced across the Zimbabwean national grid in March 2023 due to generation constraints at Hwange Power Stations and the curtailment of power imports following payment challenges," it added.

"The estimated impact of Eskom load curtailment on group production in the quarter resulted in the deferral of circa 16,000 6E ounces. Implats finished the period with circa 190,000 6E ounces of excess inventory," Implats said.

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