Typical IRS products include:

flotation concentrates from Marula, Mimosa and Two Rivers as well as Aquarius’ Marikana, Everest mine and Blue Ridge mines and Eastern Platinum’s Crocodile River mine.  An offtake agreement has also been concluded with Platinum Australia’s Smokey Hills mine which began production in FY2009;

• furnace matte from Zimplats;
• spent autocatalysts from A-1 Specialised Services and Supplies Inc. for recycling; and
• selected base metal residues and other secondary materials.

IRS enters into either metal purchase agreements or toll refining agreements, or a combination of the two.  In metal purchase agreements a percentage of the contained value(allowing for Impala’s cost and a profit margin) is purchased after an agreed processing period.  In toll refining agreements, IRS charges the client a smelting, refining and handling fee and returns to the client, the metal after an agreed processing period.  Impala, in turn, charges IRS a market-related fee for its expertise and the use of its processing facilities.

Growth

Future growth in platinum output at IRS in the short term will emanate from continued ramp-up in production at Marula, as well as the two new projects, Smokey Hills and Blue Ridge and Everest which has resumed production following the collapse of the decline at that mine.  The Phase 2 expansion project at Zimplats will contribute an additional 90,000 ounces of platinum in matte by FY2014.  Increased deliveries of autocatalysts are expected in line with the gradual improvement of the global economic environment. 

IRS continues to engage in discussions relating to the exploitation of future reserves and welcomes approaches from customers needing an established processing route for their products.