Impala Refining Services: Production down due lower concentrate deliveries

Concentrate receipts were impacted by lower deliveries from managed and JV operations, which offset the benefit of higher receipts from third parties. Receipts from managed operations decreased by 20% to 174 000 6E ounces. JV receipts fell by 19% to 106 000 6E ounces as concentrate deliveries from Mimosa were impacted by administrative delays. Refined 6E production from both mine-to-market operations (Zimplats, Marula, Two Rivers, and Mimosa) and IRS third-party customers increased by 17% to 361 000 ounces as previously accumulated inventory was reduced.

Nine months ended 31 March 2025

Mine-to-market receipts decreased by 11% to 944 000 6E ounces, reflecting higher in-process inventory at Zimplats, delayed deliveries from Mimosa and weaker volumes from Two Rivers and Marula. Third-party receipts were 3% lower at 144 000 6E ounces and gross receipts were 10% weaker year-on-year at 1.09 million ounces. Refined volumes were constrained by smelter maintenance but improved by 2% to 1.11 6E million ounces.

OUTLOOK AND GUIDANCE

Despite the challenging operating environment during the period under review, Implats remains on track to deliver within the guided Group parameters for FY2025.