Impala Platinum's output of refined platinum group metal (PGM) fell 9% year-on-year in the second half of 2022 as power cuts and a furnace rebuild hit smelter operations, the company said on Friday.
In a production update, Impala said it had lost an estimated 38,000 refined PGM ounces, nearly 3% of total refined output, due to load-shedding.
Impala's refined output declined to 1.476-million ounces in the six-month period, down from 1.617-million ounces in the same period last year.
“Smelting capacity was constrained by the increased occurrence and severity of load-shedding and worsened by the commencement of the scheduled rebuild of the No 4 furnace in Rustenburg,” Impala said.
Concentrate production was unchanged at 1.616-million ounces and the miner closed the half year with 140,000 ounces of excess inventory.
Bigger rival Anglo American Platinum on Thursday reported a 25% decline in refined PGM output last year, blaming delays on the rebuild of its Polokwane smelter, power outages and lower mine output and grades.
Impala, which has operations in South Africa, Zimbabwe and Canada, will release its interim results on March 2.
Impala Platinum half-year refined output hit by worsening power cuts
Image: Supplied
Impala Platinum's output of refined platinum group metal (PGM) fell 9% year-on-year in the second half of 2022 as power cuts and a furnace rebuild hit smelter operations, the company said on Friday.
In a production update, Impala said it had lost an estimated 38,000 refined PGM ounces, nearly 3% of total refined output, due to load-shedding.
Impala's refined output declined to 1.476-million ounces in the six-month period, down from 1.617-million ounces in the same period last year.
“Smelting capacity was constrained by the increased occurrence and severity of load-shedding and worsened by the commencement of the scheduled rebuild of the No 4 furnace in Rustenburg,” Impala said.
Concentrate production was unchanged at 1.616-million ounces and the miner closed the half year with 140,000 ounces of excess inventory.
Bigger rival Anglo American Platinum on Thursday reported a 25% decline in refined PGM output last year, blaming delays on the rebuild of its Polokwane smelter, power outages and lower mine output and grades.
Impala, which has operations in South Africa, Zimbabwe and Canada, will release its interim results on March 2.
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