On the 27th of February 2020, Impala Platinum released its financial results for the six months ended 31 December 2019. Gross revenue for the period was R28 billion, up by 19%, which resulted in a gross profit of R6 billion and a cash flow of R5 billion. Headline earnings per share was R4.36, an increase of 41% year-on-year. During the reporting period, Impala Platinum concluded its R11bn takeover of Canada’s North American Platinum.
Given the current SA government regulation on mining, limiting underground mining activities to less than 50%, Impala has reduced its group refined production to 2.6-2.9Moz (from 3-3.4Moz). Impala expects FY2020 CAPEX to range between R3.6-4.4bn (from R4.9-5.2bn). Production has decreased as a result of the COVID-19 outbreak and associated regulations.
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