Platinum miner Implats is still on track to meet its full-year target of PGM production of 3.4-3.6 million ounces, with tons milled at managed operations – including Zimplats – 10 percent higher in the March quarter.
The group said the tonnage milled at Zimplats increased “on the back of improved mining fleet availability and higher open-pit volumes at Zimplats”.
Positive operating momentum at its Impala Rustenburg operation also contributed.
“All this offset the planned reduction in volumes at Impala Canada and continued focus on development at Marula. But 6E production from these mines fell three percent to 588,000oz, largely because of a fall in production of matte at Zimplats due to furnace maintenance.”
Implats said the Zimplats furnace maintenance was completed during the quarter and matte tapping began again in mid-March.
Zimplats is 87 percent-owned by Implats.
In the nine months to end-March, Implats said production has benefited from momentum at Impala Rustenburg and Zimplats, which has offset changes in operating parameters at Marula and Impala Canada.
Implats chief executive Nico Muller said PGM demand from customers had stayed robust, despite geopolitical tensions, and the group benefited from sustained pricing support in the March quarter.
Its target was consistent and safe production to capitalise on strong PGM pricing, maximise free cash flow generation and deliver value to shareholders.
Production of PGMs from Implats’ own operations, JVs and third parties eased 0.5 percent to 762,000oz in the March quarter compared with the same quarter in 2025, but total gross sales volumes, which include contributions from Impala Canada and Impala Rustenburg North Shafts (formerly Impala Bafokeng), were nine percent higher at 847,000oz.
Scheduled work on the rebuilt of Implats’ Furnace 4, which started in December, has progressed, with first matte produced in mid-April.
At the end of the period, Implats held about 320,000oz in inventory, down from 375,000oz in the same period last year.
The reduction was ahead of expectations, and reflected a strong performance at the base and precious metals refineries and despite the Furnace 4 rebuild, Muller said. – TML/Miningmx