Customers reaffirm increased 2027 demand for Implats’ products

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Annual contractual negotiations with core customers has reaffirmed increased 2027 demand for the sustainable and responsible supply of all the precious and base metal products of Implats, CEO Nico Muller made clear on Thursday, October 29, when the company published its first-quarter production report.
While pricing volatility increased during the period, Muller pointed to Implats' robust platinum group metals (PGM) basket price remaining fully supportive of the continued delivery of the Johannesburg Stock Exchange-listed company's strategic aspirations.
In the three months to September 30, PGM pricing continued to be heavily influenced by global macroeconomic news flow, with minor metals outperforming both platinum and palladium.
First-quarter production volumes decreased by 3% to 854 000 oz. Managed ventures recorded a 4%-lower 665 000 oz, joint ventures (JVs) a 4%-lower 133 000 oz, and third parties an 8%-higher 56 000 oz.
Gross refined and saleable production volumes declined 8% to 763 000 oz, while sales volumes were 6% lower at 796 000 oz.
The company was deeply saddened to report the loss of five colleagues during the period, with four of the fatal incidents occurring at Impala Rustenburg and one at Marula. Rail-bound equipment, sulphur dioxide exposure, winches and rigging and fall-of-ground-related risks were fatality-linked.
Technology-enabled controls form an important component of the response while additional work is underway to strengthen automated risk monitoring, exception reporting and critical control verification through electronic risk management and safety systems.
"Safe production is a non-negotiable and underpins both sustainable operations and value delivery," Muller stated in a release to Mining Weekly.
The company is expected to benefit from improved operational resilience and remains on track to deliver previously communicated operational, cost and capital expenditure guidance in financial year 2027.
During the quarter, six element (6E) tonnes milled at managed operations retracted by 5% to 6.77-million tonnes and 6E production volumes declined by 3% to 854 000 oz.
Production at Zimplats in Zimbabwe benefitted from improved equipment availability, while volumes at Impala Canada were broadly stable.
At Impala Rustenburg, milled grade rose marginally to 3.75 g/t on higher grade and declined by 4% overall at managed operations to 665 000 oz.
Concentrate production from the Mimosa and Two Rivers JVs declined by 4% to 133 000 oz, while third-party 6E concentrate deliveries to Impala Refining Services increased by 8% to 56 000 oz.
Refined 6E production, which includes saleable ounces from Impala Canada and Impala Rustenburg's North Shafts, retraced by 8% to 763 000 oz while 6E refined production from South African processing assets declined by 8% to 605 000 oz.
Annual processing maintenance and stock counts were completed on schedule in July, however smelting rates in August were negatively impacted by the fatality at Mineral Processing.
In total 135 000 6E oz of smelter throughput was deferred in the period, with the impact on refined production expected between September and November.
Owing to both scheduled maintenance and reduced smelter output, excess 6E inventory increased by 95 000 oz from the end of financial year 2026 to 395 000 oz at the end of the period.
Sales volumes decreased by 6% to 796 000 oz.
At Impala Refining Services, mine-to-market 6E receipts from Zimplats and Marula improved by 1% to 196 000 oz on improved deliveries from Zimplats.
Impala Refining Services' receipts from JV operations decreased by 7% to 143 000 oz, while third-party 6E receipts improved by 8% to 56 000 oz.
Refined 6E production improved by 6% to 392 000 oz on the allocation of proce...