Lossmaking operations will not be supported – Implats
South Africa’s second-biggest platinum mining company, Impala Platinum (Implats), has said that it would no longer be supportive of loss making operations and was taking strong steps to bring about a cash-neutral position at its major productivity hit Impala Rustenburg platinum mine and would close the community-distrupted Marula mine if it failed to become cash positive.
Impala Rustenburg, which produced 654 600 oz of platinum in the 12 months to June 30, incurred a headline after-tax loss of R2.68-billion in the period, with disruptions, mainly by surrounding communities, putting Marula R737-million in the red.
“We’re the second-largest platinum producer and, de facto, that imposes on us a leadership responsibility. We take that seriously. That’s why we are very explicit at this stage that we’ll not support ongoing lossmaking operations,” new Implats CEO Nico Muller told a media roundtable in which Creamer Media’s Mining Weekly participated.
Esta historia es de la edición September 22, 2017 de Mining Weekly.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 22, 2017 de Mining Weekly.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Supply Cliff?
Commodities supply shortfall looming following years of underinvestment
Strikes Threaten Coal Sector
If an agreement cannot be reached on the future structure and form of wage nego­tiations in the coal sector, unions have threatened to strike, says Solidarity mining industry deputy general secretary Connie Prinsloo.
Continued Focus On Downstream Development
Continued Focus On Downstream Development
Unrelenting Scourge
Mining fatalities in South Africa rise for first time in decade
Plea For Open Discussion
Diamonds body calls for ‘productive dialogue’ on Kimberley Process reform
Deep Potential
Stillwater deal seen positioning Sibanye as globally competitive mining champion.
Explosive Advantage
Explosives reloading system helping Gold One to reduce mining costs.
Critical Juncture
South Africa’s mining sector at a crossroads, collaborative effort required.
Consulting Engineering's Viability Proportional to Mining's Growth
The consulting engineer-ing industry’s sustain-ability and growth are largely dependent on and proportional to the mining industry’s sustainability and growth respectively, says industry body Consulting Engineers South Africa (Cesa).
Greater Emphasis On Ensuring Sustainability
Engineering expertise can be used to generate socio-economic gains for mining companies, particularly in jurisdictions that are dependent on the finite business of mineral extraction, states global engineering and infrastructure advisory firm Aurecon, an adviser to the African mining sector.
