Corrections & Amplifications
This flash was corrected at 0810 GMT to fix the FY year. It is 2023, not 2022.
By Anthony O. Goriainoff
Impala Platinum Holdings announced that it anticipates a decrease of at least 20% in both headline earnings and headline earnings per share for fiscal year 2023. The company attributes this projection to ongoing challenges in its operating environment, such as persistent headwinds and regional power constraints.
The South African platinum miner stated on Monday that the decline in earnings is primarily due to weaker prices for dollar platinum-group-metals and reduced production as a result of load curtailment.
For the fiscal year ending on June 30, 2022, Impala Platinum reported headline earnings of ZAR 32.03 billion ($1.73 billion), with headline earnings per share of 3,853 South African cents.
Additionally, the company forecasts a 20% decrease in basic earnings and basic earnings per share for the year, mainly driven by the lower dollar platinum-group-metal basket price and reduced production. In the previous year, basic earnings amounted to ZAR 32.05 billion and basic earnings per share were 3,856 South African cents.
Impala Platinum also revealed that its gross group production of six platinum group metals (6E) for fiscal year 2023 increased by 2%, reaching 3.25 million 6E ounces. Moreover, production from managed operations rose by 6% to 2.42 million 6E ounces.
The six platinum group metals, or 6E, include ruthenium, rhodium, palladium, osmium, iridium, and platinum.
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