Impala Platinum Holdings have announced an increase in platinum production of 9.8 per cent, to a record 2 million ounces.

Palladium output also grew by 13 per cent to 1.1 million ounces, and rhodium and nickel climbed by 2.1 per cent and 3.8 per cent respectively.

Impala posted a 60 per cent rise in full-year pretax profit on higher precious metals and nickel production and stronger prices.

Pretax profit for the year ending in June 2007 reached 11.2 billion rand, as sales grew by 80 per cent to a record 31.5 billion rand.

The company said earnings were boosted by the continued strong metal prices, increased production and a weaker rand which resulted in record sales and an overall margin of 46 per cent.

Implats CEO David Brown said: "We are delighted to have broken through the 2 million platinum ounce horizon for the first time.

"This achievement, despite the disappointing performance at Impala Rustenburg, puts us firmly on track to achieve 2.5 million ounces of platinum per year by 2012 and clearly highlights the valuable contributions of all our operating units to our growth profile going forward."


Source: Impala Platinum FY pretax profit jumps 60 pct to 11.2 bln rand

http://www.forbes.com/afxnewslimited/feeds/afx/2007/08/30/afx4067065.html

Record production exceeding 2 million ounces of platinum

http://www.implats.co.za/im/press/display.asp?id=210
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