WATCH: How restructuring dragged Implats deeper into the red
World’s second-largest platinum miner, Impala Platinum, reported its full-year results on Thursday.
The company’s net loss has widened by more than 30% due to an impairment of R13bn on its Rustenberg operations, where the group plans to cut more than 13,000 jobs over the next two years. The group has also slashed its production guidance by almost a third. On the brighter side, at a gross profit level, the company actually swung to a profit.
Implats CEO Nico Muller spoke to Business Day TV about the results and what lies ahead for the company.
Implats CEO Nico Muller talks to Business Day TV about the company's results and what lies ahead