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(Wallace Refiners) – Impala Platinum (JSE: IMP, Implats), a leading producer of platinum group metals (PGM), announced Friday that its concentrate production declined by 2% to 768,000 ounces of PGM.
The company said that tonnes milled at managed operations decreased by 4% to 5.36 million tonnes during the quarter, with higher volumes at Marula and stable production at Zimplats offset by lower production at Impala Rustenburg and Impala Canada.
A 2% decrease in milled grade to 3.57g/t 6E was offset by improved recoveries, resulting in 6E concentrate production at managed operations declining by 5% to 543,000 ounces.
6E concentrate production from the joint ventures at Mimosa and Two Rivers increased by 1% to 136,000 ounces. At Impala Refining Services, 6E in concentrate receipts from third-party customers increased by 13% to 89,000 ounces.
Refined 6E production, which includes saleable ounces from Impala Canada, declined by 8% to 735,000 ounces, the company added.
According to a press-release, production in the quarter was impacted by lower concentrate volumes, while the prior comparable period benefitted from a reduction in excess stock levels.
Implats also pointed out that in 2022, it remains on track to meet the parameters provided for production, unit costs and capital expenditure metrics.
CEO Nico Muller said that the operating landscape continues to be challenging.
“Escalating geopolitical conflict, rampant inflation, constrained supply chains and a tight labor market have compounded the production impact of extended safety stoppages and the operating protocols required to manage Covid-19. Improved organizational flexibility enabled Implats to withstand considerable headwinds and is a credit to our people, who continue to demonstrate remarkable adaptability, resilience and innovation,” he added.
Implats is a leading producer of platinum group metals. The group is structured around six mining operations and Impala Refining Services, a toll refining business. The company’s operations are located on the Bushveld Complex in South Africa, the Great Dyke in Zimbabwe – the two most significant PGM-bearing ore bodies in the world – and the Canadian Shield, a prominent layered igneous domain.
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