A higher platinum group metals (PGMs) rand basket price boosted by increases in palladium, rhodium and nickel resulted in an laudable operational and financial turnaround by Impala Platinum (Implats) in the six months to end December, when earnings before interest tax depreciation and amortisation rose 112% to R5.90-billion. A year ago, Implats had a vulnerable balance sheet, negative operational cash flow, six fatalities and a huge headcount challenge at the then loss-making Impala Rustenburg. But a lot has changed and on Thursday the company was able to report equal output with 1 500 fewer people and flattened costs despite inflation.
