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Zimplats profit soars on platinum prices

Apr 30 2012 17:34 Reuters

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 108.00
Change 4.1
% Change 0.04
Cumulative volume 1367844
Market cap 68.28bn

Last Updated: 22/07/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Harare - Impala Platinum Holdings [JSE:IMP] Zimbabwe unit Zimplats reported a 170% jump in third-quarter profit on Monday, buoyed by higher platinum prices.

Zimplats said January to March operating profit rose to $52m from $19m the previous quarter. Revenue, at $128m, was 32% higher than the last quarter.

The company said production dropped by two percent to 90 557 ounces after an illegal strike by some workers and electricity cuts, which affected operations at the mine's platinum matte furnace.

A planned maintenance shutdown reduced ore milled by 4% to 1.1 million tonnes.

Implats, which owns 87% of Zimplats, said in March it had agreed to a deal that would see it comply with Zimbabwe's requirement that 51% of shares in Zimplats be held by locals.
zimplats  |  impala platinum
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