Impala Platinum Holdings has reported a stable production and robust demand for platinum group metals (PGMs) in the third quarter to March 31, 2026. The company’s 6E group production volumes were stable at 2.56 million ounces, with managed volumes largely unchanged at 2 million ounces, joint venture production decreasing 2% to 395,000 ounces, and third-party receipts of 167,000 ounces increasing by 16% from the prior comparable period.
The company’s gross 6E refined and saleable production rose 5% to 2.63 million ounces, and 6E sales volumes increased by 3% to 2.63 million ounces during the period. According to CEO Nico Muller, the processing assets delivered well to reduce excess inventory, despite the scheduled rebuild of their Number 4 furnace during the period.
PGM Demand Remains Robust
Demand for PGMs from the company’s customer base has remained robust, despite elevated global geopolitical tensions, and the company has benefitted from sustained pricing support for PGMs in the quarter. As noted on the Wikipedia page on platinum, the metal is highly valued for its catalytic properties and is used in a variety of industrial applications.
The group was closely monitoring the impact of events in the Middle East on supply chains, with steps already taken to buffer the availability of critical consumables and spares at their operations. Muller stated that the company remains focused on delivering consistent and safe production in the final months of the financial year, ensuring their ability to capitalise on strong rand PGM pricing, maximise free cash flow generation, and deliver value.
Operational Update
During the quarter, there were two fatalities at managed operations, resulting from a winch incident in February and a tramming incident in March, both of which occurred at Impala Rustenburg. The board and management team have extended their sincere sympathies and continue to offer support to the families of the deceased.
Tons milled at managed operations increased by 10% to 6.49 million tons, reflecting improved mining fleet availability and higher open-pit volumes at Zimplats, as well as positive operating momentum at Impala Rustenburg, which offset the planned reduction in volumes at Impala Canada and the continued focus on development at Marula. The 6E milled grade of 3.75g/t benefitted from changes in ore mix, with higher milled volumes at Impala Rustenburg offsetting the impact of increased throughput of lower-grade open-pit ore at Zimplats and lower grades at Impala Canada.
Here are some key highlights from the company’s quarterly report:
- Gross group 6E production was stable at 762,000 ounces
- 6E production at managed operations fell 3% to 588,000 ounces
- Mined and milled volumes increased, despite the planned reduction in volumes at Impala Canada
For more information on the company’s operations and performance, please visit the Impala Platinum Holdings website.
