Implats production drops 12 percent while unit costs increase 10.8 percent
During Q1 Implats production fell 12% due mostly to planned operational outages.
Gross platinum production was 388,000 oz compared to 441,000 during the same quarter a year ago. Palladium also declined in line with platinum, coming in at 251,000 oz compared to 285,000 year ago. Rhodium declined by just 7% from 53,000 oz compared to 57,000 oz.
Costs also rose during Q1.
"Group unit cost per platinum ounce produced excluding share-based payments rose by 10.8% from the previous quarter a year ago primarily due to the recent impact of the 10% wage settlement and the continuation of high electricity tariff increases," said the company in a statement.