South African platinum mining shafts are among the world’s deepest, oldest and most expensive to operate. Impala’s Rustenburg mines are “scrapping by for now” and further action could be taken if prices remain low, Theron said. “The shafts are not making money, but they are not losing money either, they are just getting by,” Theron said. Impala is also weighing postponing planned spending at some expansion projects at its Zimplats and Mimosa units in Zimbabwe as well as Two Rivers and Marula mines in South Africa. “We are in a process to reset the organization for a lower price environment,” Theron said.

Source: The North Africa Journal November 07, 2023 21:21 UTC