Implats caps top year for platinum with R8.7bn special payout

THE impact of surging platinum group metal (PGM) prices was for all to see in Impala Platinum’s (Implats’) year-end numbers, which it capped with a special final dividend of R8.7bn (R9.55/share).Including a base dividend of R4.4bn (R4.90/share), Implats’ final payout was R13.1bn, taking the total payout for the financial year ended June to R16.8bn – or 82% of adjusted free cash flow. Implats’ revised dividend policy is to pay a 30% base dividend from adjusted free cash before capex, with discretion to approve an additional ordinary dividend.Platinum and rhodium prices were 79% and 75% higher respectively, and despite a narrowing of deficits in platinum and palladium for the remainder of the calendar year, Implats expects prices to hold up.“While uncertainty has become a defining feature of the macroeconomic landscape, the constructive medium-term outlook for PGMs continues to provide impetus,” it said in commentary to its year-end numbers.At 3.55 million ounces, refined and saleable production was 5% higher for the 12 months ended June. Implats has targeted production of between 3.3 and 3.5 million oz for the current 2027 financial year, despite losing ounces in a recent one-week safety-related shutdown.While the final payout was handsome, Implats still left R6.9bn on the balance sheet after generating R22bn in free cash flow. That meant Implats ended the period with net cash of R20bn (debt was repaid). For the coming year, however, capex is expected to increase to between R9bn and R11bn from R7.2bn in 2026.The post Implats caps top year for platinum with R8.7bn special payout appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com