Our scope/approach to reporting

 

This Integrated Annual Report, compiled for Impala Platinum Holdings Limited (Implats) and its subsidiaries, provides information relating to strategy, governance practices, performance and prospects for the financial year 1 July 2011 to 30 June 2012. The Integrated Annual Report is the responsibility of the Company’s directors.

This is Implats’ third integrated annual report. It has been produced in line with the recommendations of the South African Code of Corporate Practice and Conduct (King III), and draws on the guidance provided in the Discussion Paper, Towards Integrated Reporting, issued by the International Integrated Reporting Council (IIRC).

The report seeks to provide a concise and balanced account of performance over the reporting period, and of the approach taken to addressing those social, economic, environmental and governance issues that have a material impact on the long-term success of the business and that are important to key stakeholders. The process for identifying the issues that we regard as being most material to Implats in FY2012 is described on pages 50.

While the report is targeted at existing and prospective stakeholders who wish to make an informed assessment of the Group’s ability to create and sustain value, it focuses primarily on meeting the needs of shareholders, analysts and investors. Additional information is provided in separately available Annual Financial Statements, Mineral Resources and Mineral Reserve Statement, and Sustainable Development Report. This report contains abridged financial information which was compiled in terms of IAS 34 Interim Financial Reporting.

In this report production is reported in terms of platinum and platinum group metals (PGMs), which include platinum, palladium, rhodium, ruthenium and iridium as well as gold; when included these are referred to as 6E. Both historical and forward-looking data is provided. Unless otherwise stated, information in this report is primarily for the FY2012 (ended June), except for that relating to physical metals markets, which is provided by calendar year.

There has been no significant change to the organisational structure, nor were there any significant restatements of data during the year. Data restatement has been indicated. Certain statistical information is provided for comparative purposes for up to 10 years (financial years 2003 to 2012). Information in the report covers all subsidiary, joint venture and investment companies over which the Group has direct control and for which it sets and implements policy and standards. For sustainability elements, information relating to managed operations is disclosed, while that for joint ventures and associates is excluded. Where information is attributable to Implats it is highlighted. In all cases, US$ or Dollar refers to the US Dollar.

Please address any queries or comments on this report to investor@implats.co.za.

Additional information is provided in the following reports, all of which are available at www.implats.co.za

Annual Financial Statements: These were prepared according to International Financial Reporting Standards (IFRS), the requirements of the South African Companies Act, the regulations of the JSE and recommendations of King III.

 

Notice of Annual General Meeting: This was prepared according to the requirements of the South African Companies Act, the Listings Requirements of the JSE and recommendations of King III.

 
       

Mineral Resource and Mineral Reserve Statement: This conforms to the South African Code for Reporting of Mineral Resources and Mineral Reserves (SAMREC) and the Australasian Code for the Reporting of Mineral Resources and Ore Reserves (JORC), and has been signed off by the competent persons, as defined by these codes.

 

Sustainable Development Report: This has been developed in line with the recommendations of the G3 Sustainability Reporting Guidelines of the Global Reporting Initiative (GRI), and with consideration to the UN Global Compact.