Impala Platinum Holdings Limited has posted its results for the year ending June 30th, showing record production at Impala of 1.125 million ounces of platinum. (2.003 million ounces of pgms).

In its annual report, being posted to shareholders today (August 25th), the company notes that gross platinum production has remained steady at 1.846 million ounces, with pgm production at 3.49 million ounces.

CEO Keith Rumble said: "Prospects for pgms remain sound, and we continue our consistent growth in production, targeting 2.3 million ounces of platinum by FY2010.

"Production in FY2007 is anticipated to exceed 2 million ounces of platinum."

Mr Rumble added that the group intended to focus its attention on costs and productivity.

The report also notes that the group unit cost per platinum ounce refined went up by 8.7%.

The 2006 financial year has been characterised by high levels of profitability, driven by higher metal prices and a strong demand for platinum group metals, Mr Rumble observed.

The strong market for platinum group metals has been driven in a large part by automotive demand.


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