Implats slips 10% as earnings report falls short
The miner expects interim gross profit to end-December to rise 90% after the price of palladium surged in 2019
06 February 2020 - 10:10
Shares in Impala Platinum (Implats) closed more than 3% lower on Thursday, its biggest fall in about a week, after it reported that ongoing maintenance at its smelters resulted in a decline in the volume of its sales for the six months to end-December.
This has put the world’s third-largest platinum miner on track to miss the market’s full-year earnings expectations, even as analysts remain upbeat about the prospects for platinum group metals (PGM) prices due to high demand from automotive manufacturers seeking to meet vehicle emission targets...
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