Implats flags profit rise as platinum prices surge
Headline earnings will rise by at least 20% in the group’s year to end-June, as it cashes in on high precious metal prices
Impala Platinum (Implats), the third-largest source of SA platinum group metals (PGMs), has flagged an at least R3.2bn rise in headline profits for its year to end-June, boosted by higher production and elevated precious metal prices.
Refined output of the six PGMs Implats produces rose 16.3% to 3.271-million ounces to end-June, while revenue ounce sold is expected to increase 58.8% to R39,478/oz. This reflects high prices during the period, including records for palladium and rhodium, Implats said in a trading update on Wednesday...