Key features for the 12 months

IMPALA PLATINUM HOLDINGS LIMITED (IMPLATS, GROUP OR COMPANY) IS ONE OF THE WORLD’S FOREMOST PRODUCERS OF PLATINUM AND ASSOCIATED PLATINUM GROUP METALS (PGMS). IMPLATS IS CURRENTLY STRUCTURED AROUND FIVE MAIN OPERATIONS WITH A TOTAL OF 20 UNDERGROUND SHAFTS. OUR OPERATIONS ARE LOCATED WITHIN THE BUSHVELD COMPLEX IN SOUTH AFRICA AND THE GREAT DYKE IN ZIMBABWE, THE TWO MOST SIGNIFICANT PGM-BEARING ORE BODIES IN THE WORLD.

SAFETY

  
  • A 28% improvement in FIFR to 0.047*
  • A 12% improvement in LTIFR to 5.30*.

OPERATIONAL

  
  • Stable mine-to-market platinum in concentrate production of 1.31Moz
  • 5% increase in refined PGM production of 3.07Moz, including:
    • 4% increase in refined platinum of 1.53Moz, and
    • 7% increase in refined palladium of 0.91Moz
  • Industry-leading cash cost performance:
    • Group unit costs per platinum ounce on a stock-adjusted basis, up 4% to R23 942
  • Consolidated Group capital expenditure of R3.8bn.

FINANCIAL

  
  • Net cash from operating activities of R10.7bn
  • Free cash flow of R7.7bn generated
  • R2.2bn in debt repayments and a closing net cash position of R1.1bn
  • Group liquidity headroom improved to R12.2bn
  • Gross profit of R6.8bn and headline earnings of R3.0bn
  • Incentivised US$ bond conversion post-year-end.

MARKET

  
  • Increased catalyst loadings have tightened the market for palladium and rhodium
  • Progress in R&D for the reintroduction of platinum in gasoline catalyst formulations
  • Growing recognition of the potential of hydrogen to address decarbonisation
  • Dollar revenue per platinum ounce sold up 11% to US$2 237
  • Rand weakness resulted in revenue per platinum ounce sold increasing by 22% to R31 765.

* Per million man hours worked.