Impala Platinum Holdings (Implats) has announced that this year's performance looks set to be better than previously forecast.

The South African firm, the world's second largest platinum producer, claimed second-half predictions were being increased due to a softer rand that would help to increase export earnings.

According to Reuters, headline earnings for the full year are expected to be above the 36 rand predicted, with second half headline earnings alone expected to reach above 20 rand.

In addition, chief executive Keith Rumble, revealed he expected platinum production to be double that of the first half, plus four per cent, reaching 1.83 million ounces.

Mr Rumble explained that a "ten to 15 per cent weakening" in the rand would boost the company "on the top and bottom line" and expected the firm to be "materially better" than previously thought.

"It is good operational performance, slightly higher volumes than we anticipated...clearly the big driver has been the rand and the fact that metals prices have held up well," Mr Rumble added.

He also felt that operational performance and strong metal prices would be seen across the industry.