Mining News

Implats’ earnings to decline on lower sales revenue, inflationary pressures

Platinum group metals (PGMs) miner Impala Platinum (Implats) expects its basic earnings for the financial year ended June 30 to decrease by between 29% and 35% year-on-year, to between R30.5-billion and R33.5-billion, while its earnings a share for the period are expected to decrease by between 33% and 39% to between R36.69 and R40.30.

In the previous financial year, Implats’ basic earnings of R47-billion and earnings a share of R59.96 benefited from the reversal of impairment losses on property, plant and equipment and the prepayment of royalties of R10.6-billion or R13.52 a share (post-tax).

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