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Implats produces 50 millionth platinum ounce

Implats notes that this significant achievement is equivalent to 1 555 t of platinum and estimated to be worth a staggering R750 billion at current metal prices.

Terence Goodlace, CEO at Implats says this is a tremendous milestone for the group and has taken it 47 years to achieve.

[quote]“I would like to thank every employee, past and present, whose considerable efforts and contributions have maintained Implats as one of the world’s most significant platinum group metals producers,” says Goodlace.

In 1970 Implats produced 117 446 oz of platinum and within three years the group had produced more than half a million ounces and by 1988 total production reached the one million platinum ounce mark.

A total of 10 Moz of platinum was achieved after 16 years of operation and in 1997 the 20 Moz of platinum milestone was reached.

Goodlace concludes, “In 1997 we produced 1 Moz of platinum on an annualised basis for the first time, following this, production grew rapidly and peaked at 2 Mozpa of platinum in 2007. Cumulatively, Implats produced 40 Moz of platinum in August 2009, 40 years after the first metal was produced.”

Over the long term the company intends to improve the profitability of its existing operations through targeted interventions aimed at improving mining efficiencies and increasing platinum production.

Implats’ vision is to be the world’s best platinum producing company by delivering superior value to all its stakeholders.