Impala Platinum could see annual pgm output at its section of the Rustenburg mine decline by about 100,000 oz in the year to June 2010, it emerged today (28th September).

The world's second-largest platinum producer has been forced to close its number 14 shaft at the South African facility twice in the last two months after accidents caused three fatalities.

In addition, its workers at the site downed tools in August over a wage dispute that resulted in output being compromised for two weeks as negotiations stalled.

As a result, Impala's annual Rustenburg production could fall from 950,000 oz to 850,000 oz, Chief Executive David Brown has revealed in an interview with Business Report.

"We had a 50,000 oz reduction as a result of the closure after the 14th shaft accident plus the revision of the mine plan, so that is 50,000 oz in total for the 2010 year - that brings us down to about 900,000 oz," he told the news provider.

"With the strike we are down another 40,000 to 50,000 oz of platinum. So we are probably targeting 850,000 oz on the lease area."

However, Mr Brown added that production will be on an upward curve for the 2011 financial year as cost increases and "moderated inflation" play their part in the total.

He also revealed that the company is assessing each of its shafts in order to ascertain whether they are "correctly and adequately staffed for that production profile".

Impala Platinum produced 1.91 million ounces of platinum across all its operations in the 2008 financial year.

Source:

Web Exclusive: Implats could miss 2010 Impala target (28/09/09)

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