The National Union of Mineworkers (NUM) has accused Impala Platinum of putting profits ahead of workers’ safety, raising concerns over safety conditions at the Rustenburg mine.
The concerns come after the platinum producer recorded at least 11 worker fatalities at the mine in the past month, driven by underground locomotive and rail-bound equipment incidents. This led to the mine temporarily shutting down operations.
Following the temporary shutdown, Implats held a mass engagement-style safety day at Royal Bafokeng Stadium between July 24 and 28.
‘Safety is not built through PR campaigns’
Mpho Phakedi, NUM general secretary, condemned the event, highlighting that public relations events should not be used to distract from the underlying safety concerns at the mine. He also raised concerns that the union was sidelined from the event.
Phakedi said:
“Safety is not built through stadium gatherings or public relations campaigns – it is built through visible leadership, proper equipment maintenance, effective supervision, and authentic worker participation. The NEC views Impala’s event as an attempt to divert attention from urgent, necessary reforms.”
In a trading statement for the year to June, Implats reported an expected recovery in earnings helped by stronger platinum group metal (PGM) and base metal prices as improved production and higher revenue per ounce lift profitability.
Headline earnings for the year are expected to rise to between R21.8-billion and R23.8-billion, compared with just R700-million in the previous year.
Also Read: Mining profits prioritised over workers’ lives – NUM
Headline earnings per share are expected to increase to between 2,429 cents and 2,652c, from 82c in the comparative period.
The improvement was driven primarily by gains in precious and base metal prices, which pushed Implats’ achieved revenue per 6E ounce sold up 51% to R38,116.
Production also improved during the year, with refined and saleable 6E production increasing 5% to 3.56-million ounces as the group reduced excess in-process inventory.
“The benefit of improved revenue was partially offset by the 8% increase in stock adjusted Group unit costs to R24 249 per 6E ounce, the higher cost of metals purchased by Impala Refining Services and increased tax and royalty payments.
“Group EBITDA increased to circa R43.6 billion, while free cash generated improved to R22 billion. The free cash flow for the period was adversely impacted by the reclassification of a portion of Zimplats local currency cash balances to statutory receivables,” the group said.
Basic earnings are expected to reach between R30-billion and R32-billion, compared with R800-million in the previous year. Basic earnings were boosted by the reversal of R8.1bn in impairments relating to property, plant and equipment and the prepaid royalty at Impala Rustenburg, following higher prevailing rand PGM prices.
Basic earnings per share are expected to increase to between 3,343c and 3,566c, from 85c.
Also Read: Implats profit leaps over 400%
- The National Union of Mineworkers (NUM) accused Impala Platinum of prioritizing profits over worker safety after 11 worker fatalities at the Rustenburg mine within a month.
- The fatalities were caused by underground locomotive and rail-bound equipment incidents, prompting a temporary shutdown of the mine.
- Implats held a safety day event at Royal Bafokeng Stadium from July 24 to 28, which NUM criticized as a distraction from true safety issues and sidelining the union.
- Implats reported expected headline earnings of between R21.8 billion and R23.8 billion for the year to June, up from R700 million the previous year.
- Basic earnings are projected to reach between R30 billion and R32 billion, boosted by an R8.1 billion reversal of impairments on property, plant, equipment, and prepaid royalties.
Mpho Phakedi, NUM general secretary, condemned the event, highlighting that public relations events should not be used to distract from the underlying safety concerns at the mine. He also raised concerns that the union was sidelined from the event.
Phakedi said:
“Safety is not built through stadium gatherings or public relations campaigns – it is built through visible leadership, proper equipment maintenance, effective supervision, and authentic worker participation.
NEC views Impala’s event as an attempt to divert attention from urgent, necessary reforms.” The
In a trading statement for the year to June, Implats reported an expected recovery in earnings helped by stronger platinum group metal (PGM) and base metal prices as improved production and higher revenue per ounce lift profitability.
Also Read:
Production also improved during the year, with refined and saleable 6E production increasing 5% to 3.56-million ounces as the group reduced excess in-process inventory.
“
“Group EBITDA increased to circa R43.6 billion, while free cash generated improved to R22 billion.
Basic earnings are expected to reach between R30-billion and R32-billion, compared with R800-million in the previous year. Basic earnings were boosted by the reversal of R8.1bn in impairments relating to property, plant and equipment and the prepaid royalty at Impala Rustenburg, following higher prevailing rand PGM prices.
Basic earnings per share are expected to increase to between 3,343c and 3,566c, from 85c.
Also Read: Implats profit leaps over 400%
