By Jaime Llinares Taboada
Impala Platinum Holdings Ltd. said Wednesday that it expects its headline and basic earnings for the year ended in June to increase by at least 20%, reflecting stronger production and prices.
The precious-metals miner said both headline and basic earnings are expected to be at least 19.2 billion South African rand ($1.30 billion).
Implats said that a significant increase in the basket price for platinum group metals and higher sales volumes resulted in higher revenue and improved profitability for the period.
Refined production rose 16% in the year to 3.3 million ounces, and sales volumes were up 17% at 3.3 million.
In addition, average revenue per ounce of 6E sold jumped 59% to ZAR39,478, Implats said.
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(END) Dow Jones Newswires