IMP - Impala Platinum Holdings Limited - Implats f17 Nov 2010
IMP - Impala Platinum Holdings Limited - Implats first quarter production report
for period 01 July to 30 September                                              
Impala Platinum Holdings Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration No. 1957/001979/06)                                               
ISIN: ZAE000083648                                                              
JSE Share Code : IMP                                                            
LSE Share Code : IPLA                                                           
ADR Code : IMPUY                                                                
("Implats" or "the Company")                                                    
Unaudited       Unaudited                 
 Operational information              Quarter ended   Quarter ended             
                                      30 September 10 30 September 09           
 Implats Gross Refined                                                          
 Platinum                   000oz     441             413                       
 Palladium                  000oz     285             266                       
 Rhodium                    000oz     57              63                        
Nickel                     000tonne  3.76            3.48                      
 Tonnes Milled              000       3 979           2 997                     
Grade (6E)                 g/t       4.66            4.61                      
 % Merensky (Ex                       42%             41%                       
 Refined Platinum           000oz     251             180                       
 Tonnes Milled              000       437             393                       
Grade (6E)                 g/t       4.32            4.41                      
 Platinum in Concentrate    000oz     20              19                        
Tonnes Milled              000       1 043           869                       
 Grade (6E)                 g/t       3.56            3.52                      
 Platinum in Matte          000oz     44              36                        
 Tonnes Milled              000       594             577                       
 Grade (6E)                 g/t       3.91            3.86                      
 Platinum in Concentrate    000oz     27              26                        

 Refined Platinum           000oz     190             233                       

 Prices Achieved                                                                
 Platinum                   $/oz      1 528           1 211                     
 Palladium                  $/oz      470             260                       
Rhodium                    $/oz      2 286           1 509                     
 Nickel                     $/tonne   19 100          16 330                    
 Average exchange rate      R/$       7.41            7.82                      
Regrettably, three of our employees lost their lives at work during the first   
quarter of FY2011.  Two of these incidents occurred at Impala Rustenburg, one   
due to a fall-of-ground, the other the result of material handling.  The third  
followed an explosives incident at Mimosa in which one of our contractor        
employees was injured and who later passed away in hospital.  The Board and     
management team extend their sincere sympathies to the families, friends and    
colleagues of these employees.                                                  
The challenge the group continues to face is changing the safety behaviour of   
all employees.  Du Pont Sustainable Solutions have been contracted to assist our
Rustenburg and Marula operations with the introduction of a new Behaviour Based 
Safety System.  Key to this is zero tolerance for unlawful behaviour and        
violations of the safety rules by all levels within the company and the         
empowerment of employees to stop unsafe work places and practices.              
Gross platinum production rose by 7% compared to the first quarter a year ago to
441 000 ounces due to increased production from Impala and Zimplats.  Palladium 
production increased in line with platinum, but rhodium fell by 10% as the      
pipeline in both the BMR and PMR were restocked during the period.              
At Impala Rustenburg tonnes milled improved by 33% and platinum production      
improved by 39% to 251 000 ounces.  In the previous comparable quarter 70 000   
ounces were lost due to the strike action and the major safety incident at 14   
Shaft.  The amount of Merensky ore milled continues to be impacted by limited   
face availability at the major shafts.  However, improvements in both headgrade 
and yield have benefited production.                                            
The focus at the operation remains on on-reef development at current shafts and 
main development at the project shafts.  Number 20 Shaft is on track for first  
reef production early in the new year.  The start of equipping at 16 Shaft and  
first level development at 17 Shaft are scheduled to commence in the first half 
of 2011.  Impala is on track to produce 940 000 ounces of platinum for the full 
Production at Marula continues to be hampered by constrained mining flexibility.
While tonnes milled rose by 11%, a marginal decline in headgrade as a result of 
increased on-reef development coupled with lower recoveries resulted in platinum
production only rising by 5% to 20 000 ounces of platinum in concentrate.       
Zimplats` platinum production in matte was up 22% in line with a 20% increase in
tonnes milled.  This is reflective of the ramp up of the Phase 1 expansion and  
the commissioning of the new concentrator which occurred in September 2009.  The
Phase 2 expansion project has commenced with the earthworks for the Portal 3    
boxcut scheduled for completion in the second quarter of FY2011.  This project  
will take production to 270 000 ounces of platinum by 2013.                     
Mimosa achieved a marginal improvement in tonnes milled which resulted in record
quarterly platinum in concentrate production of 27 000 ounces.  The operation is
running at steady-state production of 100 000 ounces of platinum in concentrate 
per annum.                                                                      
IRS` refined platinum production declined by 19% quarter on quarter due to the  
timing of a portion of deliveries.  These deliveries will be processed in the   
second quarter.                                                                 
17 November 2010                                                                
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited               
Date: 17/11/2010 16:15:02 Produced by the JSE SENS Department.                  
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