Consolidated interim results (reviewed)
for the six months ended 31 December 2016
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Our values

WE RESPECT
  • All our stakeholders, including:
    • Employees and their representative bodies
    • Communities within which we operate
    • Regulatory bodies
    • Suppliers and customers
    • Directors and management
    • All other interested and affected parties
  • The principles of the UN Global Compact
  • The laws of the countries in which we operate
  • Company policies and procedures
  • Our place and way of work
  • Open and honest communication
  • Diversity of all our stakeholders
  • Risk management and continuous improvement philosophies.

Our vision is to be the
world’s best platinum-
producing company,
delivering superior returns
to stakeholders relative to
our peers.


Our mission
To safely mine, process,
refine and market our
products at the best possible
cost, ensuring sustainable
value creation for all our
stakeholders.

 

WE CARE
  • For the health and safety of all our stakeholders
  • For the preservation of natural resources
  • For the environment in which we operate
  • For the socio-economic well-being of the communities in which we operate.
WE STRIVE TO DELIVER
  • Positive returns to our stakeholders through an operational excellence model
  • A safe, productive and conducive working environment
  • On our capital projects
  • A fair working environment through equitable and competitive human capital practices
  • On the development of our employees
  • On our commitments to all stakeholders
  • Quality products that meet or exceed our customers’ expectations.
 

IMPALA PLATINUM HOLDINGS LIMITED

Impala Platinum Holdings Limited

Key features

Safety
  • Regrettably four employees suffered fatal injuries at Impala Rustenburg during the period under review
  • Over the last five years, the Group has invested significantly in safety initiatives
  • Implats has 13 safety ”millionaire” sites, three of which have operated for over 15 years without a fatal incident.
Market
  • Overall demand for platinum group metals (PGMs) remained strong, while supply constraints continue
  • On a fundamental basis, the platinum market experienced a fifth consecutive deficit year
Prices
  • Platinum and palladium showed positive gains
  • Rand revenue per platinum ounce rose 14.1% to R24 921.

 

Strategic response
  • Continued focus on cash preservation and profitability in a low metal price environment
  • Ongoing capital expenditure remains a focus area.
Operational performance
  • Gross refined platinum production increased by 12.5% to 778 500 ounces
  • Zimplats, Two Rivers, Mimosa and Impala Refining Services (IRS) deliver good operational performances
  • Difficult operating environments continued to challenge the operational performance of Impala Rustenburg and Marula.
Liquidity
  • Generated R1.8 billion in cash from operations before changes in working capital
  • Gross cash of R5.4 billion
  • Net debt of R1.1 billion
  • R4.0 billion of unutilised facilities available until 2021.

Refined platinum ounces indicated above have been rounded for
illustrative purposes.
*Ex-Impala Refining Services (IRS)