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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Impala Platinum | LSE:IPLA | London | Ordinary Share | ZAE000083648 | ORD ZAR0.025 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 266.36 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIPLA Impala Platinum Holdings Limited (Incorporated in the Republic of South Africa) (Registration No. 1957/001979/06) ISIN: ZAE000083648 JSE Share Code : IMP LSE Share Code : IPLA ADR Code : IMPUY ("Implats" or "the Company") IMPLATS FIRST QUARTER PRODUCTION REPORT FOR PERIOD 01 JULY TO 30 SEPTEMBER 2010 Operational information Unaudited Unaudited Quarter ended Quarter ended 30 September 10 30 September 09 Implats Gross Refined Production Platinum 000oz 441 413 Palladium 000oz 285 266 Rhodium 000oz 57 63 Nickel 000tonne 3.76 3.48 Impala Tonnes Milled 000 3 979 2 997 Grade (6E) g/t 4.66 4.61 % Merensky (Ex underground) 42% 41% Refined Platinum Production 000oz 251 180 Marula Tonnes Milled 000 437 393 Grade (6E) g/t 4.32 4.41 Platinum in Concentrate 000oz 20 19 Zimplats Tonnes Milled 000 1 043 869 Grade (6E) g/t 3.56 3.52 Platinum in Matte 000oz 44 36 Mimosa Tonnes Milled 000 594 577 Grade (6E) g/t 3.91 3.86 Platinum in Concentrate 000oz 27 26 IRS Refined Platinum Production 000oz 190 233 Prices Achieved Platinum $/oz 1 528 1 211 Palladium $/oz 470 260 Rhodium $/oz 2 286 1 509 Nickel $/tonne 19 100 16 330 Average exchange rate R/$ 7.41 7.82 SAFETY Regrettably, three of our employees lost their lives at work during the first quarter of FY2011. Two of these incidents occurred at Impala Rustenburg, one due to a fall-of-ground, the other the result of material handling. The third followed an explosives incident at Mimosa in which one of our contractor employees was injured and who later passed away in hospital. The Board and management team extend their sincere sympathies to the families, friends and colleagues of these employees. The challenge the group continues to face is changing the safety behaviour of all employees. Du Pont Sustainable Solutions have been contracted to assist our Rustenburg and Marula operations with the introduction of a new Behaviour Based Safety System. Key to this is zero tolerance for unlawful behaviour and violations of the safety rules by all levels within the company and the empowerment of employees to stop unsafe work places and practices. PRODUCTION Gross platinum production rose by 7% compared to the first quarter a year ago to 441 000 ounces due to increased production from Impala and Zimplats. Palladium production increased in line with platinum, but rhodium fell by 10% as the pipeline in both the BMR and PMR were restocked during the period. Impala At Impala Rustenburg tonnes milled improved by 33% and platinum production improved by 39% to 251 000 ounces. In the previous comparable quarter 70 000 ounces were lost due to the strike action and the major safety incident at 14 Shaft. The amount of Merensky ore milled continues to be impacted by limited face availability at the major shafts. However, improvements in both headgrade and yield have benefited production. The focus at the operation remains on on-reef development at current shafts and main development at the project shafts. Number 20 Shaft is on track for first reef production early in the new year. The start of equipping at 16 Shaft and first level development at 17 Shaft are scheduled to commence in the first half of 2011. Impala is on track to produce 940 000 ounces of platinum for the full year. Marula Production at Marula continues to be hampered by constrained mining flexibility. While tonnes milled rose by 11%, a marginal decline in headgrade as a result of increased on-reef development coupled with lower recoveries resulted in platinum production only rising by 5% to 20 000 ounces of platinum in concentrate. Zimplats Zimplats' platinum production in matte was up 22% in line with a 20% increase in tonnes milled. This is reflective of the ramp up of the Phase 1 expansion and the commissioning of the new concentrator which occurred in September 2009. The Phase 2 expansion project has commenced with the earthworks for the Portal 3 boxcut scheduled for completion in the second quarter of FY2011. This project will take production to 270 000 ounces of platinum by 2013. Mimosa Mimosa achieved a marginal improvement in tonnes milled which resulted in record quarterly platinum in concentrate production of 27 000 ounces. The operation is running at steady-state production of 100 000 ounces of platinum in concentrate per annum. IRS IRS' refined platinum production declined by 19% quarter on quarter due to the timing of a portion of deliveries. These deliveries will be processed in the second quarter. 17 November 2010 Johannesburg Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited END
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