Key features for the year

Financial

  • Group unit cost increase was contained at 4.4%
  • Earnings impacted by impairment of R10.2 billion
  • Balance sheet strengthened with gross cash of R7.8 billion, and unutilised facilities of R4 billion available until 2021.

Operational

  • Gross refined platinum production increased by 6.4% to 1.53 million ounces
  • Disappointing production at Impala Rustenburg with output below original targets
    • Restructuring review underway for a return to profitability under new normal pricing environment
  • Production volumes at Marula below target due to community disruptions
  • Outstanding operational performances from Zimplats, Two Rivers, Mimosa and IRS

Safety

  • Fatal accidents remain a concern at Impala
  • Improved safety performances at
    Zimplats, Marula, Mimosa and Two Rivers.

Market

  • Overall PGM demand stable, while supply remains constrained
  • Current platinum price disconnected to market fundamentals.

Mineral Resources and Mineral Reserves

  • No material change in Mineral Resources totalling 191.6 million platinum ounces and Mineral Reserves of 22.4 million platinum ounces.
  Operational  
 
  • Gross refined platinum production increased by 6.4% to 1.53 million ounces
  • Disappointing production at Impala Rustenburg with output below original targets
    • Restructuring review underway for a return to profitability under new normal pricing environment
  • Production volumes at Marula below target due to community disruptions
  • Outstanding operational performances from Zimplats, Two Rivers, Mimosa and IRS
 
  Financial  
 
  • Group unit cost increase was contained at 4.4%
  • Earnings impacted by impairment of R10.2 billion
  • Balance sheet strengthened with gross cash of R7.8 billion, and unutilised facilities of R4 billion available until 2021.
 
  Market  
 
  • Overall PGM demand stable, while supply remains constrained
  • Current platinum price disconnected to market fundamentals.
 
  Safety  
 
  • Fatal accidents remain a concern at Impala
  • Improved safety performances at Zimplats, Marula, Mimosa and Two Rivers.
 
  Mineral Resources and Mineral Reserves  
 
  • No material change in Mineral Resources totalling 191.6 million platinum ounces and Mineral Reserves of 22.4 million platinum ounces.