By Jaime Llinares Taboada
Impala Platinum Holdings Ltd. on Friday reported that its production of platinum group metals fell in the fiscal third quarter, but reaffirmed full-year guidance.
The South African mining company refined 800,000 ounces of 6E platinum group metals--platinum, palladium, rhodium, iridium, ruthenium and gold--in the three months ended March 31, it said. This was down from 862,000 ounces a year earlier, when the company undertook a material reduction in excess accumulated inventory.
Conversely, sales volumes increased 14% to 862,000 ounces in the period, the company said.
In addition, Implats reaffirmed full-year guidance of 3.2 million-3.5 million ounces, with adjusted operating costs of 14,600 rand-15,100 rand ($1,026-$1,061) per 6E ounce, and capital expenditure of ZAR5.8 billion-ZAR6.2 billion.
Chief Executive Nico Muller said Implats continues to demonstrate resilience during the pandemic, adding that rand PGM pricing remains elevated.
Write to Jaime Llinares Taboada at email@example.com; @JaimeLlinaresT
(END) Dow Jones Newswires