Integrated Annual Report 2014
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AT A GLANCE THE IMPLATS GROUP GROUP PERFORMANCE
OPERATIONAL REVIEW GOVERNANCE AND REMUNERATION SUMMARY CONSOLIDATED ANNUAL FINANCIAL STATEMENTS
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At a glance
Summarised operational review

           
    SOUTH AFRICA          
               
   
Impala
  
Marula
  
Two Rivers
             
Overview    
  • A 14 shaft mining complex
  • Mineral processes, incorporating concentrating and smelting plants
  • Refineries, housing the base and precious metals refineries
  • Reserves: 19.8 million attributable ounces of platinum
  • Resources (including reserves)
    57.6 million attributable ounces of platinum
  • Contribution to Group Pt production: 35%   
  
  • Two decline
  • shafts Concentrator plant
  • Reserves: 1.1 million attributable ounces of platinum
  • Resources (including reserves)
    7.4 million attributable ounces of platinum
  • Contribution to Group Pt production: 7%
 
  • Joint venture with African Rainbow Minerals Limited
  • Two on-reef shafts Concentrator plant
  • Reserves: 0.8 million attributable ounces of platinum
  • Resources (including reserves)
    2.9 million attributable ounces of platinum
  • Contribution to Group Pt production: 14%
             
Platinum production       411 000 ounces
  of refined platinum  		     78 500 ounces
  of platinum in concentrate  		     175 100 ounces
  of platinum in concentrate  
                         
    2014    2013   2012     2014    2013   2012     2014    2013   2012  
Platinum ('000oz)     411.0    709.2   750.1     78.5    71.7   69.1     175.1    162.2   149.9   
Palladium ('000oz)      197.4    350.5   408.6     80.5    73.5   71.2     102.7    98.6   89.5  
Rhodium ('000oz)      50.2    101.3   98.9     16.7    15.2   14.8     31.0    28.7   25.5  
Nickel (t)      1 976    4 035   4 757     279    245   238     566    555   595  
Tonnes milled ('000)     6 183    10 897   10 654     1 794    1 628   1 579     3 279    3 172   3 103  
Head grade 6E (g/t)      4.34    4.32   4.38     4.19    4.19   4.18     4.01    4.02   3.86  
Performance                       
Revenue (Rm)     10 327    14 588   13 009     1 791    1 404   1 197     3 669    2 867   2 335  
Cost (R/Pt oz)     22 036    17 241   13 913     19 860    19 665   16 483     11 433    11 683   10 814  
Gross profit/(loss) (Rm)      (1 902    2 097   2 889     (12)    (216)   (80)     1 082    634   508  
Capital expenditure (Rm)   2 823    4 390   5 269     159    125   223     319.00    489.00   467.00  
Safety                      
– Safety – LTIFR     5.04    4.91   5.74     5.29    5.42   11.46     1.40    1.78   1.43  
– Safety – FIFR     0.048    0.087   0.110     0.000    0.000   0.130     0.000    0.000   0.280  
Environmental                         
Energy consumption ('000GJ)     10 494    14 180   14 048     792    729   713     730    681   656  
Total water consumed (Mℓ)     17 502    25 979   27 263     3 573    3 544   3 585     1 752    1 134   1 320  
Total water recycled (%)      36    41   39     53    44   45     n/a    n/a   n/a  
Total CO2 emissions ('000tpa)     2 344    3 024   2 938     214    182   177     213    11   10  
Total direct SO2 emissions (tpa)      4 735    6 519   4 993     n/a    n/a   n/a     n/a    n/a   n/a  
                           
Outlook    
  • Strategic review to be completed by December 2014
  • Long-term goal to complete 2 420 new housing units at a total cost of R1 billion
  • Production to build to 850 000 ounces of platinum per annum by 2019
  • Capital expenditure of R3 billion for FY2015   
  
  • Optimisation of existing infrastructure
  • Production planned to increase to 90 000 ounces of platinum over the next five years   
  
  • Production capacity should be maintained at around 150 000 ounces of platinum in concentrate
Key risks and challenges     Improving delivery on development, equipping, construction and ledging and through this increasing ore reserve availability.     Delivering on development targets. The adjustment of dealing with an additional union at the operation. Rebuilding relationships with all stakeholders.      
Employees and contractors     44 608   46 671   48 307     4 304   4 018   3 708      3 416   3 706   3 514  

 

    ZIMBABWE        
             
IRS
  
Zimplats
  
Mimosa
         
         
  • Provides smelting and refining services through offtake agreements with Group companies (except Impala) and third parties
  • Recycling and toll-treatment
  • Contribution to Group Pt production: 16% from third parties   
  
  • Four shallow mechanised underground mines
  • Concentrator and smelter plants at Selous
  • Metallurgical Complex (SMC)
  • Concentrator plant at Ngezi
  • Reserves: 6.2 million attributable ounces of platinum
  • Resources (including reserves) 95.1 million attributable ounces of platinum
  • Contribution to Group Pt production: 19%   
  
  • Joint venture with Aquarius Platinum Limited
  • Mechanised shallow underground mine
  • Concentrator plant Reserves: 0.6 million attributable ounces of platinum
  • Resources (including reserves) 3.7 million attributable ounces of platinum
  • Contribution to Group Pt production: 9%   
         
767 000 ounces
of refined platinum  		   239 700 ounces
of platinum in matte  		   110 200 ounces
of platinum in concentrate  
         
2014    2013   2012     2014    2013   2012     2014    2013   2012  
767.0    872.3   697.5     239.7    198.1   187.1     110.2    100.3   106.0  
513.0    669.8   541.1     197.6    157.1   149.2     87.0    79.5   82.3  
107.3    118.4   111.1     22.3    17.0   16.9     9.3    8.7   8.5  
11 939    11 983   10 582     4 830    3 909   3 787     3 329    3 161   3 046  
n/a    n/a   n/a     5 939    4 683   4 393     2 453    2 381   2 324  
n/a    n/a   n/a     3.47    3.53   3.53     3.92    3.95   3.93  
18 495    14 696   14 069     5 973    4 159   3 665     2 970    2 579   2 403  
n/a    n/a   n/a     13 383    11 524   9 594     17 768    15 713   11 255  
1 701    1 409   1 339     2 039    1 451   1 589     572    623   905  
n/a    n/a   n/a     1 225    1 449   2 137     298    265   497  
n/a    n/a   n/a     0.41    0.70   0.21     0.38    0.26   1.19  
n/a    n/a   n/a     0.06    0.000   0.000     0.000    0.000   0.000  
n/a    n/a   n/a     2 390    1 940   2 100     719    725   701  
n/a    n/a   n/a     10 386    7 852   6 003     3 313    3 336   3 263  
n/a    n/a   n/a     38    26   27     34    30   35  
n/a    n/a   n/a     364    410   428     117    171   162  
n/a    n/a   n/a     26 000    12 017   13 470     n/a    n/a   n/a  
            
  • Short-term market production decline expected. IRS has access to spare smelting capacity
  • Opportunities evaluated on an ongoing basis   
  
  • Remains in negotiations with government on finalising the agreed indigenisation plan
  • Phase 2 expansion project remains on schedule, for full production during FY2015   
  
  • Steady state platinum concentrate production will be maintained in the region of 100 000 ounces per annum
Understanding the future demand for our products, and the corresponding industry supply-side profile. Scanning the environment for technological advances that may affect the demand for Implats' products.     Maintaining regular contact with government officials. Ensuring full legal and regulatory compliance in a continuously changing environment. Investing in community and social development initiatives.     Addressing relevant issues regarding sustainability, corporate responsibility, and being recognised as a good corporate citizen.  
n/a   n/a   n/a     6 074   5 704   9 203     1 550   1 682   1 771