Shortage of 'critical skills' at Impala Canada contributes to lower PGM production for Implats in Q3

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(Kitco News) -Impala Platinum (JSE: IMP,Implats), a leading producer of platinum group metals, announced today that inSeptember quarter 2021, its total 6E PGM concentrate volumes decreased 6% to809,000 ounces, with a 5% decline in managed volumes to 592,000 ounces, a 3%decline in JV production to 138,000 ounces and 16% lower third-party receiptsof 80,000 ounces.

The company said that grosstonnes milled at managed operations decreased by 6% to 5.76 million tonnesduring the quarter, with lower volumes reported at Impala Rustenburg and ImpalaCanada offsetting gains at Zimplats.

Milled grade improved marginallyto 3.64g/t and, together with improved recoveries and yield, the decline in 6E concentrateproduction of 592,000 ounces at managed operations was limited to 5%, Implatsadded, whereas 6E concentrate production from the joint ventures at Mimosa and TwoRivers declined by 3% to 138 000 ounces.

Impala Refining Services 6Ein concentrate receipts from third-party and toll customers declined by 16% to80,000 ounces, resulting in gross Group concentrate production declining by 6%to 809,000 ounces.

Refined 6E production, whichincludes saleable ounces from Impala Canada, declined by 15% to 741,000 ounces,with the annual scheduled processing maintenance, which was completed duringJuly and August, contributing to the decline, the company said.

CEO Nico Muller commented,"After a slow start, operating momentum improved during the quarter as wecompleted our annual scheduled processing maintenance, the third wave of theCovid-19 pandemic receded in South Africa and global logistical constraintsstarted to ease."

"The improved organisationalflexibility installed over recent years enabled the Group to manage severalheadwinds at the start of FY2022, including unprotected industrial action and intermittentpower provision at Impala Rustenburg and a shortage of critical skills atImpala Canada," he added.

Implats is a leading producerof platinum group metals. The company's operations are located on the BushveldComplex in South Africa, the Great Dyke in Zimbabwe - the two most significantPGM-bearing ore bodies in the world - and the Canadian Shield, a prominentlayered igneous domain.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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