Implats not yet at full production

Johannesburg - Impala Platinum's [JSE:IMP] operations have yet to return to full production due to four fatal accidents and after being hit earlier this year by a five-month strike, the company said on Wednesday, leading it to review its assets.

"Good progress in re-starting the operation during the first two months of the quarter was interrupted by four separate fatal incidents at the mine and the subsequent closure of the mining operation," the company said in a first quarter production update.

Implats, the world's second-largest platinum producer, said it had begun a "strategic review of all operations and projects" but did not elaborate further.

READ: Implats warns of sharp fall in profits

The company, however, maintained its half-year production guidance and full-year at 250 000 and 575 000 ounces respectively.

Gross platinum production in three months to September fell 25.5% to 280 000 ounces from 376 000 ounces in the same period last year as the company ramped-up operations.

READ: In depressed platinum market, Amplats struggles

Implats' situation stands in sharp contrast to that of rivals Anglo American Platinum [JSE:AMS] and Lonmin [JSE:LON], which were also hit by the strike but have both resumed full production ahead of schedule.

Amplats said in July it would sell its labour intensive shafts around Rustenburg, the epicentre of the strike, as it switches to more mechanised methods of mining.

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                              Lonmin swings back to full production