Implats produces its 50-millionth platinum ounce

JOHANNESBURG (miningweekly.com) – Impala Platinum (Implats) has reached a record milestone, producing its 50-millionth ounce of platinum.

The 50-million ounces is equivalent to 1 555 t of platinum and estimated to be worth R750-billion at current metal prices.

“This is a tremendous milestone for the group and has taken us 47 years to achieve. 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,” commented outgoing CEO Terence Goodlace.

In 1970, Implats produced 117 446 platinum ounces. Within three years, the group had produced more than 500 000 oz and, by 1988, total production reached the one-million platinum ounce mark.

Ten-million platinum ounces was achieved after 16 years of operation and, in 1997, the 20-millionth platinum ounce milestone was reached.

“In 1997, we produced one-million platinum ounces on an annualised basis for the first time.  Following this, production grew rapidly and peaked at two-million platinum ounces per annum in 2007. Cumulatively, Implats produced its 40-millionth platinum ounce in August 2009, 40 years after the first metal was produced.”