SPECIAL FEATURE
Mining Many mining companies are thinking of expansion. SECTOR INSIGHT Energy plants are being constructed on mines.
Credit: Implats
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ommodity prices buoyed the mining sector in 2021. Impala Platinum (Implats) posted a 125% increase in headline earnings in September 2021. The group allocated 70% of free cashflow to shareholder returns through convertible bond repurchases and cash dividends. This came about because of record rand prices for the PGM basket, increased sales and improved operations. Work has been done
NORTH WEST BUSINESS 2021/22
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a t I m p l a t s’ R u s te n b u rg to enhance mine flexibility and the company expects this to deliver further growth. Pilanesberg Platinum Mines has been active 80km north-west of Rustenburg since 2009. Mining operations are conducted by contractors while PPM manages the concentrator (screen, crush, mill, float, thicken and dry). The operation has annually achieved an average of about 150 000 ounces of platinum group metal (PGM) concentrate. RBPlat declared an interim dividend of R1.5-billion in August of 2021 and was expecting to have similar good news at yearend, despite reduced production volumes because of the Covid-19 pandemic. The four metals that make up the bulk of Royal Bafokeng Platinum’s portfolio increased in price by more than 50% in the course of 2021. Rhodium earns RBPlat 45% of its income, followed by palladium, platinum and gold. Even though the Rustenburg furnace 5 was put on care and maintenance, Merafe Resources reported a small improvement in ferrochrome production for the first quarter of its financial year. The joint with Glencore, Glencore Merafe Chrome Venture, apparently
