Lower PGM prices result in 99% H1 profit decline for Implats

Platinum miner Impala Platinum’s (Implats’) gross profit for the six months to December 31, decreased to R21-million from R1.5-billion in the previous year – a direct result of lower metal prices. The net effect was that its headlines earnings declined 13% to R347-million for the half-year. Implats on Thursday released its results for the six months, noting that it would continue efforts to prioritise shorter‐term cash preservation and profitability in the current low-metal price environment, which the company expected to persist in the longer term.