Editor’s Note: This article has been updated to correct an error, which stated that Impala Platinum had suffered 11 deaths in one month. This figure was incorrect and has been updated to reflect the overall reported figures in the Rustenburg area. We apologise to Implats for the error.
Platinum producer Implats has 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.
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.
Safety at mines
The Department of Mineral Resources has reported 33 mining fatalities in 2026, with 12 of these in the Rustenburg area. Impala recently put a temporary halt to its Rustenburg operations for a “safety reset” after two fatal accidents which took place weeks apart involving underground locomotives. In November 2023, a tragic accident occurred at Shaft 11 of the same mine when an elevator descended uncontrollably and came to a violent stop, claiming 13 lives and injuring more than 70 workers.
Also Read: Implats profit leaps over 400%
Continue using AI Cursor?Keep it onTurn Off
- Implats is expecting headline earnings to rise to between R21.8-billion and R23.8-billion, up from R700-million the previous year.
- Achieved revenue per 6E ounce sold increased by 51% to R38,116 due to higher precious and base metal prices.
- Refined and saleable 6E production rose 5% to 3.56 million ounces as the group reduced excess in-process inventory.
- Group EBITDA reached approximately R43.6 billion, with free cash generated improving to R22 billion.
- The Department of Mineral Resources reported 33 mining fatalities in 2026, including 12 in the Rustenburg area, where Implats temporarily halted operations for a safety reset following two fatal accidents.
Editor's Note:
Platinum producer Implats has 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.
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%
Continue using AI Cursor?Keep it onTurn Off
Let’s regain consciousness to focus on what we as employees doing.refrain from short cuts and routines practices on our daily tasks.bygones be bygones cooperate to each standards and regulations comrades.safe peoples safe production.