{"id":60353,"date":"2024-01-31T16:12:58","date_gmt":"2024-01-31T16:12:58","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices"},"modified":"2024-01-31T17:49:34","modified_gmt":"2024-01-31T17:49:34","slug":"impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices","title":{"rendered":"Impala Platinum sees 20% decline in half-year profit on lower metal prices"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Impala Platinum (Implats) on Wednesday said it expects at least a 20% decline in profit for the six months to December 31, mainly due to weaker metal prices.<\/p>\n

Prices of platinum group metals (PGMs), mostly used to curb emissions in internal combustion engines, have fallen sharply over the past year due to weak automotive demand and rising sales of battery-powered electric vehicles. The prices of major PGMs, palladium and platinum, fell by about 40% and 15%, respectively, last year.\u201cDue primarily to the impact of weaker dollar PGM pricing, Implats 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,\u201d it said in a trading update.<\/p>\n

The miner’s headline earnings and HEPS were R14bn and R16.54, respectively, in the six months to December 2022.<\/p>\n

South African PGM miners, including Implats and Sibanye-Stillwater, plan to chop thousands of jobs as they implement spending cuts to sustain operations amid low metal prices.<\/p>\n

Implats said its refined PGM production increased by 19% to 1.75-million ounces after incorporating output from the recently acquired Royal Bafokeng Platinum assets as well as \u201ca noticeable reduction in the frequency and intensity\u201d of electricity supply disruptions.<\/p>\n

Implats said repairs to its 11 Shaft in Rustenburg, where a deadly hoisting equipment accident killed 13 workers and injured 73 others last November, are set to be completed in February.<\/p>\n

\u201cA build-up to full production capacity currently targeted for April 2024,\u201d Implats said, adding that the mine had lost 30,000 PGM ounces in production due to the accident during the first half of its financial year.<\/p>\n

Production of a further 30,000 PGM ounces is estimated to be foregone in the second half of Implats’ financial year as repairs continue.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Impala Platinum (Implats) on Wednesday said it expects at least a 20% decline in profit for the six months to December 31, mainly due to weaker metal prices. Prices of platinum group metals (PGMs), mostly used to curb emissions in internal combustion engines, have fallen sharply over the past year due to […]<\/p>\n","protected":false},"author":84,"featured_media":60352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-60353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nImpala Platinum sees 20% decline in half-year profit on lower metal prices - South Africa<\/title>\n<meta name=\"description\" content=\"Impala Platinum (Implats) on Wednesday said it expects at least a 20% decline in profit for the six months to December 3 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Impala Platinum sees 20% decline in half-year profit on lower metal prices\" \/>\n<meta property=\"og:description\" content=\"Impala Platinum (Implats) on Wednesday said it expects at least a 20% decline in profit for the six months to December 3 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-31T16:12:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-31T17:49:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1706710589.743102.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Impala Platinum sees 20% decline in half-year profit on lower metal prices\",\"datePublished\":\"2024-01-31T16:12:58+00:00\",\"dateModified\":\"2024-01-31T17:49:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices\"},\"wordCount\":306,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1706710589.743102.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/impala-platinum-sees-20-decline-in-half-year-profit-on-lower-metal-prices\",\"name\":\"Impala Platinum sees 20% decline in half-year profit on lower metal prices - 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