Implats forecasts 20pc profit jump

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ZIMBABWE Platinum Mines’ (Zimplats) majority shareholder, Impala Platinum (Implats), is expecting a 20 percent jump in annual earnings for the year to June 30, 2020, on the back of firm metals prices.
In a trading update, Implats, the world’s third largest source of platinum group metals (PGMs) which operates mines in Zimbabwe and South Africa, said it expects commodity prices to remain firm in the medium term.

“A significant increase in the dollar basket price for PGMs, together with rand depreciation, has resulted in a higher rand PGM basket price received by the group during the period. Consequently, Implats is expecting headline earnings and headline earnings per share for the period, to be significantly more than 20 percent higher than that reported for the year ended June 30, 2019,” said Implats.