Impala Platinum considers early mine closure in Canada amid price slump [Yahoo! Finance]
IMPALA PLATINUM HLDGS ADR (IMPUY)
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Source: Yahoo! Finance
Muller revealed the potential closure following a 43% fall in profit in the first six months of the 2025 financial year (FY25), reported Reuters On a media call Muller stated: “I would not be surprised if, in the course of the next few months, we come to a position that an accelerated and responsible wind down of that operation seems to be economically the most effective way to deal with (Impala) Canada." The company's profit plummeted to R1.85bn, impacted by lower metal prices, leading to the suspension of dividend payments. Last year, Implats announced a three-year reduction in the lifespan of the Canadian mine to mitigate costs amidst declining prices. The mine's production dropped by 20% to 116,000 tonnes (t) in first half of FY25. Despite the current market challenges, Muller expressed confidence in platinum group metals (PGM) prices, with a notable deficit of platinum, as well as palladium and rhodium, according to the company's half-year presentation, reported Mining
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