OTHER

Implats tips increase in full-year earnings

South Africa-based miner Impala Platinum has pointed to a likely 20% lift in earnings for the year to June 30 despite the ongoing impacts of COVID-19.

 South Africa-based PGM producer Impala Platinum tips earnings growth

South Africa-based PGM producer Impala Platinum tips earnings growth

A significant increase in platinum group metals prices plus higher sales volumes prompted the company to forecast an increase of at least 20% in headline earnings and headline earnings per share, from the R16 billion and 2,075c of a year ago.

It had reported stellar half-year results in February.

Fellow PGM producer Anglo American Platinum this week reported a 573% increase in earnings for its first half, based on an improved price for products sold and a continued recovery from COVID-19 stoppages that blighted the first half of 2020.

Implats said it had delivered strong operating results and recorded a 15.6% increase in gross concentrate volumes to 3.29 million 6E ounces, which was within guidance of 3.2-3.4Moz.

It marks the first full reporting period since the inclusion of Impala Canada, which contributed 260,000oz.

The company said the expected destocking of in-process inventory was adversely impacted by increased load-shedding by power utility Eskom in South Africa and the timing of scheduled maintenance at group processing facilities in the second half, due to COVID-19-related delays.

Implats is due to release financial results on September 2.

Its shares (JSE: IMP) rose 2.7% yesterday and have gained more than 26% year-to-date.

At the close of ZAR254.98, the company is capitalised at ZAR208.4 billion (US$14.1 billion).

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.