Impala Platinum has recorded earnings of RN4.3 billion (US$600 million) over the six months to December 31st following higher metal prices and a weaker Rand/US dollar exchange rate.

The interim results for the world's second largest platinum producer show group platinum production was up 8.5 per cent to 1.018 million oz. While platinum production fell 7.8 per cent at Impala Platinum to 545,000 oz, Zimplats production rose by six per cent to 46,100 oz of platinum in matte.

Looking forward, Chief Executive David Brown said: "Fundamentals for PGMs remain sound going forward.

"The platinum market will continue to be tight due to the rollout of automotive emission legislation which now incorporates heavy duty vehicles and continuing growth in diesel market share in Europe."

He added that the outlook for palladium price improvements would be determined by the level of stock sales and tighter nitrogen oxide emissions legislation would affect the rhodium market in the medium term.

Impala Platinum is also currently in talks to make a cash offer for African Platinum. The deal at R7.76 (US$ 1.08) a share values the company at around RD3.7 billion (US$520 million).

Ÿ Adfero Ltd