Briefs
Implats to aim for “smaller” Rustenburg operation
Impala Platinum said on Thursday it aimed to modernise its Rustenburg mines, the epicentre of often violent labour unrest in recent years, into "smaller, more concentrated mining" operations.
Unveiling the results of a strategic review that the company has said will include a pivot away from labour-intensive mining to mechanisation, the world's No. 2 producer of platinum also said "the business may require additional funding in order to ensure the long-term strategic intent remains intact."
Simultaneously, it stressed the need to conserve cash in the face of depressed prices. Its balance sheet shows its cash and cash equivalents as of Dec. 31 was 2.7 billion rand ($235.5 million), a fall of 25 percent compared with the same period in 2013.
($1 = 11.4575 rand)