Key features for the year
- 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.
- 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
- Fatal accidents remain a concern at Impala
- Improved safety performances at
Zimplats, Marula, Mimosa and Two Rivers.
- 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.
|Mineral Resources and Mineral Reserves|