Impala Platinum has announced a record refined platinum production of 1.03 million ounces, an increase of 1.4 per cent, after releasing its figures for the six months ending December 31st.

David Brown, Chief Executive Officer, said: "Operationally the group delivered an excellent performance with overall refined platinum production up to a record 1.03 million ounces for the period on the back of improved results from Impala Rustenburg and the on-going ramp-ups at our other operations."

Sales revenue rose by ten per cent to R16.3 billion while profits rose by seven per cent to R4.7 billion in the six months ending December 31st.

Mr Brown did say that safety needed to be improved even though the lost time injury frequency rate (LTIFR) improved by 13 per cent.

"There were regrettably eight fatal incidents throughout the group. There is a need to drive continuous improvement in this area and we welcome the initiatives by government to ensure safer work environments," he said.

Although labour related issues have occurred at Marula its plans to achieve full production of 136,000 oz of platinum in concentrate per annum for the 2010 financial year remain.

Zimplats saw an 11.5 per cent reduction in the production of platinum in matte due to the planned closure of the furnace for maintenance and Mimosa produced 39,600 oz of platinum in concentrate - a 3.1 per cent increase.

Meanwhile, Mr Brown was looking to the future and expected tight market conditions in the rest of 2008 because of South African supply constraints due to the power crisis.

Sources:

Impala Platinum Profit Climbs 7.3%; Output to Drop, 14/02/08
http://www.bloomberg.com/apps/news?pid=20601116&sid=aECt84haMTc8&refer=africa

Record half year refined platinum production of 1.03 million ounces, 14/02/08
http://www.implats.co.za/im/press/display.asp?id=218

http://www.implats.co.za/im/reports/interim/files/interim_results_14feb08.pdf

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