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IRS has access to Impala’s smelting and refining capacity and remains well placed to process additional material from new or existing projects.
IRS performance
What happened ...
Subsidence at Everest Mine, an operation owned by IRS’ long-time major customer Aquarius Platinum, resulted in suspension of mine operations and reduced baseload concentrate
What we did about it ...
Increased third-party purchases and toll treatment
Benefited from Group expansions
What we achieved ...
Increased production year-on-year by 15%
Where to from here ...
Short term
Production growth from continued ramp-up at Zimplats, Marula and Smokey Hills
Aquarius has resumed operations at the Everest Mine
Long-term production growth from
Restoration of full operation at Everest Mine
Phase 2 expansion at Zimplats
The rebound in metal and scrap prices from those experienced in 2009 which should support sustained growth in the autocatalyst recycle market
Continued pursuit of concentrate/matte purchase offtakes and toll treatment opportunities
Business summary
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 New autoclave at the BMR refinery, Springs.
Impala Platinum’s excess processing and refining capacity is used to smelt and refine the concentrate and matte produced at the Group’s other mine-to-market operations, material purchased from other companies, recycling and toll-refining on behalf of other companies. In case of the former two business streams, Implats acquires the PGM-bearing material and markets the final product, while in the case of the latter, the final product is returned to the company from which it was acquired.
Despite the continued suspension of operations at Everest, refined platinum production rose by 15% to 870 000 ounces. This was primarily due to the ramp-up in production at both Zimbabwean operations, namely Mimosa and Zimplats, a further increase from Two Rivers as a result of plant modifications and the start of production at the two new offtake projects, Blue Ridge and Smokey Hills.
Five-year outlook
In the short term, growth will come from continued ramp-up in production at Zimplats, Marula and Smokey Hills and the resumption of operations at Everest. In the longer term, growth will be underpinned by the phase 2 expansion at Zimplats, restoration of full operations at Everest and increasing deliveries of autocatalysts in line with the organic development of this market.
IRS has access to smelting and refining capacity from Impala and remains well placed to process additional material from new or existing projects on a purchase or toll basis. |
