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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") THIRD QUARTER PRODUCTION REPORT FOR THE PERIOD 01 JANUARY TO 31 MARCH 2010 Operational Unaudited Unaudited Unaudited Unaudited information Quarter Quarter ended Nine months Nine months ended to to 31 March 09 31 March 10 31 March 10 31 March 09 Implats Gross Refined Production Platinum 000oz 368 385 1,263 1,263 Palladium 000oz 283 224 864 698 Rhodium 000oz 59 58 185 186 Nickel 000tonne 3.43 3.44 10.90 10.69 Impala Tonnes Milled 000 3,217 3,390 10,032 11,524 Grade (6E) g/t 4.67 4.63 4.61 4.57 % Merensky 40% 46% 40% 46% Refined 000oz 220 153 653 669 Platinum Production Marula Tonnes Milled 000 333 394 1,149 1,175 Grade (6E) g/t 4.35 4.30 4.38 4.25 Platinum in 000oz 14 19 52 55 Concentrate Zimplats Tonnes Milled 000 1,053 543 3,021 1,625 Grade (6E) g/t 3.58 3.57 3.53 3.49 Platinum in 000oz 46 25 128 72 Matte Mimosa Tonnes Milled 000 557 548 1,709 1,563 Grade (6E) g/t 3.87 3.85 3.86 3.88 Platinum in 000oz 25 24 76 68 Concentrate IRS Refined 000oz 148 232 610 594 Platinum Production Prices Achieved Platinum $/oz 1,520 955 1,365 1,249 Palladium $/oz 410 189 336 277 Rhodium $/oz 2,486 1,117 1,982 4,517 Nickel $/tonne 18,541 10,432 16,863 14,778 Average R/$ 7.51 9.99 7.63 8.62 exchange rate SAFETY There were no fatal injuries during the quarter under review. Impala Springs and 5 Shaft in Rustenburg both achieved twelve consecutive months without incurring a lost time injury whilst Zimplats and Mimosa continued to deliver remarkable performances with Lost Time Injury Frequency Rates (LTIFR) of less than 1 per million man hours worked. In spite of these achievements group safety performance as measured by the LTIFR has deteriorated from that reported in August 2009. We continue to focus on instilling a safety culture within the organisation. To this end we have engaged the services of Du Pont in the development of a safety management and culture programme to achieve our vision of zero harm. PRODUCTION Gross refined platinum production for the 9 months to the end of March 2010 remained unchanged compared to the same period a year ago despite the impact of industrial action and the 14 Shaft incident at the beginning of the current financial year. Quarter-on-quarter platinum production decreased by 4% to 368 000 ounces due to pipeline movements as reflected in Impala and IRS figures. Palladium production rose 26% on the back of the ramp-up of the Phase 1 expansion at Zimplats, additional deliveries of palladium-richer autocatalysts and the continued destocking of material from the refinery. Impala At Impala Rustenburg tonnes milled declined by 5% to 3.2 million due to the change in the mechanised Merensky mining layout. Refined platinum production rose 44% to 220 000 ounces largely as a result of a lock-up of material in the previous comparable period caused by the commissioning of the gas cleaning plant in the smelter. Despite the change to a more UG2 dominant ore mix, head grade, recovery and yield have all shown improvement. The focus at the operation remains on on-reef development at the current shafts and main development at the project shafts. Mining flexibility will be restored by accessing new half-levels, particularly in Merensky areas. Marula Tonnage at Marula fell by 15% period on period. However, platinum in concentrate production declined by 22% to 14 000 ounces due to pipeline movements. Constrained mining flexibility continues to hamper the ramp-up to conventional mining. Zimplats Production at Zimplats increased in line with the ramp-up of the Phase 1 expansion project. Whilst mill tonnage increased by 93%, platinum in matte, production only increased by 85% due to a combination of lower recoveries at the new Ngezi plant, lower platinum grade and inventory movement. Zimplats has made the decision, based on existing agreements with the Government of Zimbabwe and despite the fact that discussions are still on-going on certain key issues, to move ahead with the Phase 2 expansion project. The estimated cost of this project is US$500 million and will be funded by a combination of internally generated cash resources and a bank loan. The funding arrangements have not yet been finalised and government project approvals are still outstanding. Mimosa Mimosa has achieved steady-state capacity of 100 000 ounces of platinum in concentrate per annum. Consequently tonnes milled rose only marginally to 557 000 whilst platinum in concentrate production increased by 6% to 25 000 ounces period on period. IRS IRS' refined platinum production declined by 36% quarter-on-quarter. Deliveries from Zimplats, Blue Ridge and Smokey Hills increased as these operations ramp-up production. Enquiries should be directed to: Bob Gilmour (Group Executive Corporate Relations) +27 11 731 9013/12 +27 82 453 7100 Bob.gilmour@implats.co.za Johannesburg 17 May 2010 Sponsor to Implats: Deutsche Securities (SA) (Proprietary) Limited IR/AnnualRep2009/RMG END
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