Impala Platinum Sees Fiscal Year 2023 Production Toward Lower-End Guidance
By Michael Susin
Impala Platinum Holdings said Tuesday that production for fiscal 2023 is likely to be toward the lower end of its previously guided range on the back of constrained operations, while unit costs are moving toward the top end of the guidance.
The South African platinum miner had forecast platinum group metals production for the year ending June 30 of 3.0 million-3.15 million ounces, with operating costs in the range of 18,500 to 19,500 South African rand ($1,005.75 to $1,060.12) an ounce.
The South African platinum miner said that group production volumes for the nine months ended March 31 fell 2% to 2.35 million ounces.
It added that gross refined and saleable production declined by 9% to 2.14 million ounces due to constrains on processing capacity.
"The increased severity of domestic and regional power constraints has been well-documented and was a notable impediment to operational delivery in the quarter," Chief Executive Nico Muller said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 02, 2023 08:06 ET (12:06 GMT)
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