Impala Refining Services (IRS), which leverages Impala’s smelting and refining assets to process concentrate and matte for group operations as well as third parties, saw a 13% decline in refined platinum production during the year.

As expected the Kroondal contract ended in March 2008, resulting in a drop of 130 000 platinum ounces through IRS. Further ounces were lost following the collapse of the decline at Everest, which caused the suspension of operations at that mine in December 2008.

Excluding the Kroondal ounces, overall production decreased by only 1%, thanks to increased year-on-year deliveries from other suppliers, particularly Two Rivers, Implats’ mine-to-market projects, Aquarius’ Marikana and Eastplats’ Crocodile River Mine.

Outlook

Future growth in platinum output at IRS in the short term will emanate from continued ramp-up in production at Zimplats and Marula, as well as the two juniors, Smokey Hills and Blue Ridge. Everest is expected to resume production in the medium term and increased deliveries of autocatalysts are expected in line with the gradual improvement of the global economic environment.

We anticipate growth in our production profile through IRS as various projects continue to ramp-up.