Impala Platinum (Implats, IMP), the world’s second-largest platinum producer, lost about 131 000oz of platinum production during the March quarter because of the Association of Mineworkers and Construction Union (Amcu) strike that began on January 23.
The production was lost from the group’s flagship Rustenburg mines, which have been shut since that date.
CEO Terence Goodlace said: “Production from other mining operations, which typically accounts for approximately 45% of the group’s total production, remained unaffected”.
Mr Goodlace said that at group level gross refined platinum production declined by 18% to 992 000oz in the nine-month period to end-March compared with 1.2-million ounces in the nine-month period to March 2013.
He said “stringent cash preservation initiatives” had been put in place because of the strike and that the only operating costs in the March quarter were incurred on security and essential service and maintenance work.
“The net result was that for the period of the strike operating costs and capital expenditure were curtailed by 67% – about R1.9bn – in total,” Mr Goodlace said.