ROYAL Bafokeng Platinum (RBPlat) vaulted into an interim profit due to an improved operational performance and a higher rand price for the metals it produced, underpinning it cash holdings.RBPlat reported a profit of R217m for the six months to end-June compared with a R108m loss in the same period a year earlier. Headline earnings were 77.8c per share versus a 60.4c loss before.Revenue was up 16% to R1.65bn due to the rand price for the basket of platinum group metals (PGMs) RBPlat produced rising 10%, and a 6% increase in platinum ounces the company sold.RBPlat operates the Bafokeng Rasimone Platinum Mine near Rustenburg and is building Styldrift, a new mine near Sun City. RBPlat has scaled back work at Styldrift because of the weak platinum group metal prices that have forced restructuring in the industry in recent years.RBPlat increased tonnages delivered to its concentrator by 10%, with an increase in material coming from the Styldrift mine. The amount of desirable and high-val...
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