Why Implats has changed its tune on Waterberg
IMPALA Platinum (Implats) earlier this month declared R13.1bn in final dividends, a sum that outshone its rivals. It also revised its payout policy in such a way that the door is…
Implats takes shine to bite-sized Waterberg JV
IMPALA Platinum (Implats) has turned more positive on the long-delayed Waterberg JV project as plans for a smaller mine improve its chances of getting off the ground. Implats…
Northam seeks bids amid “exploratory” offer from rival
NORTHAM Platinum has enlisted offers for either a corporate- or asset- deal after disclosing on Tuesday it had received an “exploratory” offer for the company from a rival…
Fragile supply gives platinum price new lease on life
IT was once common to describe the platinum price in terms of gold, the so-called gold-platinum ratio. Then came the global financial crisis in 2008. As automakers’ demand…
Implats stabilises Styldrift but metal prices to hit earnings
IMPALA Platinum (Implats) said on Tuesday headline share earnings would be 40% to 49% weaker for the six months ended December. The rand value of platinum group metals it sells…
Canada’s streamers making hay in the Africa
CANADIAN metals investor Sprott was in Johannesburg last month to drum up some business. “We are always looking for opportunities and places to invest our capital,” says Caroline…
Afrimat is a new breed of diversified miner
If there is a fatal flaw in mining companies, it is poorly timed capital allocation at the top of a particular commodity cycle. More than a few counters – especially of the…
ARM’s earnings drop 43% after PGM strategy backfires
AFRICAN Rainbow Minerals has reported a 43% drop in headline earnings for the year to June as the downturn in the platinum group metals (PGM) market delivered a kick in the teeth…
Implats CEO “anxious” for US rate cut as PGM prices languish
IMPALA Platinum (Implats) CEO Nico Muller said he was “anxiously waiting” on a US interest rate cut as it would be a boost to languishing platinum group metal (PGM) prices.…
Implats consigned to year-end loss as impairs mines for R19.8bn
IMPALA Platinum (Implats) today announced it had impaired assets for R19,8bn, equal to basic earnings of R22,04 per share, owing to a one-third decline in the average metal price…
Implats resolves illegal strike at BRPM
IMPALA Platinum (Implats) said on Wednesday an illegal stoppage at the North shaft of its Impala Bafokeng BRPM operation had been resolved after a week of downtime. “Employee…
Implats hit by illegal strike at troubled Bafokeng mine
AN illegal work stoppage has taken place since Thursday, June 27 at the North Shaft of Impala Platinum’s (Implats) Impala Bafokeng BRPM operation resulting from contractors on…
PIC likely to oppose BHP’s bid for Anglo? That’s not a given …
THE Public Investment Corporation (PIC), the government pensions fund, gave few clues as to its standing on BHP’s takeover proposal for Anglo American. In an interview with…
Implats CEO urges investors to play the long game
NICO Muller, Impala Platinum (Implats) CEO, carries a slightly haunted air at the moment. Speaking at the PGMs Industry Day conference in Joburg last month, he reflected ruefully…
Implats says investors continue to influence “volatile” PGMs
INVESTORS continued to influence platinum group metals (PGMs) in Impala Platinum’s (Implats’) third quarter resulting in volatile pricing, the firm’s CEO Nico Muller said in a…
Implats to slash 3 900 jobs on weak PGM prices
ABOUT 3,900 jobs are on the line at platinum group metals (PGM) miner Implats as weak platinum prices and input cost pressures have forced it to consider retrenchments, it said…
Implats CEO says RBPlat deal wouldn’t make sense today
THE deal Impala Platinum (Implats) did to acquire Royal Bafokeng Platinum (RBPlat) would be viewed as “incredibly stupid” if done today at current prices and expected future cash…
Time to let out the handbrake on platinum group metals?
The JSE’s four largest platinum miners cut nearly R30bn in planned capital and stay-in-business expenditure in February in a clear vote that the metal’s price, and those of its…
‘A very bloody picture’. Why Northam is downbeat on PGMs
TWO years ago things were looking so good for the platinum sector that Impala Platinum (Implats) and Northam Platinum got into a corporate brawl over ownership of Royal Bafokeng…
Northam warns PGM price slump could last for two years
NORTHAM Platinum has forecast an extended slump in platinum group metal (PGM) prices of up to two years placing “significant pressure on earnings and cash generation”. Commenting…