Lossmaking operations will not be supported – Implats

September 14, 2017

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South Africa’s second-biggest platinum mining company Impala Platinum (Implats) said on Thursday that it would no longer be supportive of lossmaking operations and was taking strong steps to bring about a cash neutral position at its major productivity-hit Impala Rustenburg platinum mine and would close the community distrupted Marula mine if it failed to become cash positive. Impala Rustenburg, which produced 654 600 oz of platinum in the 12 months to June 30, incurred a headline after-tax loss of R2.68-billion in the period, with disruptions, mainly by surrounding communities, putting Marula R737-million in the red.

Category: General