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Impala Platinum

#2748

Rank

$4.81B

Marketcap

ZA South Africa

Country

Impala Platinum
Leadership team

Mr. Nicolaas Johannes Muller B.Sc, B.Sc., Mining Eng. (CEO & Exec. Director)

Ms. Meroonisha Kerber B.Com., C.A. (CFO, Debt Officer & Exec. Director)

Mr. Gerhard S. Potgieter MSc (Chief Operating Officer)

Products/ Services
Mining
Number of Employees
20,000 - 50,000
Headquarters
Johannesburg, NA - South Africa, South Africa
Established
1966
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
IMP.JO
Social Media
Overview
Location
Summary
Impala Platinum Holdings Limited engages in the mining, processing, refining, and marketing platinum group metals (PGMs). The company produces platinum, palladium, rhodium, nickel, and by-products. It has operations on the PGM-bearing ore bodies, including the Bushveld Complex located in South Africa; and the Great Dyke situated in Zimbabwe. The company also owns and operates the Lac des Iles Mine located northwest of Thunder Bay, Ontario, Canada. Impala Platinum Holdings Limited is based in Sandton, South Africa.
History

Implats was formed in 1966 as a subsidiary of Union Corporation, which established a platinum mine in Rustenburg with an initial capacity of 100,000 oz per year. It received technical advice from Canadian company Inco, while British bank Hambros provided financial advice. The two, along with South African state-owned Industrial Development Corporation, each took a 10% share in the company. In 1968, Implats entered into a prospecting accord with the Bafokeng tribe and obtained a lease for 12,000 ha of land, with production kicking off in July 1969.During the 1970s, legislation introducing new vehicle emission standards worldwide, including those introduced and pursued in the U.S. by the Environmental Protection Agency , increased global demand for platinum. In 1974, Implats began supplying major motor manufacturer General Motors with up to 300,000 t oz of platinum and 120,000 t oz of palladium a year for devices to reduce exhaust pollution.On 26 January 1973, Bishopsgate Platinum Limited, of which Implats was a wholly owned subsidiary, was listed on the Johannesburg Stock Exchange . On 19 October 1978, Bishopsgate changed its name to Impala Platinum Holdings Limited .In 1990, Implats acquired an effective interest in Western Platinum and Eastern Platinum . A full merger agreement with Lonplats was attained in 1995, but was subsequently blocked by the European Union in 1996.Between 2000 and 2004, Implats gained mineral rights to establish Marula Platinum and also acquired strategic stakes in Zimbabwean operations Zimbabwe Platinum and Mimosa Mining Company. It entered into a joint venture with Anglovaal Mining to develop the Two Rivers Platinum project, and sold its stakes in Barplats Mines and Lonplats.

In 2003, Implats' parent company Gencor completed its "unbundling" after having amalgamated with Gold Fields in 1998. Shareholders were given 8.8 Implats shares for every 100 Gencor shares they held.In March 2011, the government of Zimbabwe implemented laws which required local ownership of mining companies. Following this news, there were falls in the share prices of companies with mines in Zimbabwe, including Implats.In late January 2014, thousands of employees belonging to Impala Platinum and other platinum mines in South Africa went on strike, demanding a basic salary of R 12,500 .The strike, the longest in the history of South Africa, ended in late June 2014 when the Association of Mineworkers and Construction Union signed a three-year settlement deal with Impala Platinum and other platinum mine owners, which saw workers earning less than R 12,500 get a wage increase of R 1,000 per month for two years and R 950 per month in the third year.In October 2019, Implats announced it would acquire the outstanding shares in Canadian-based North American Palladium Limited for $758 million.North American Palladium Ltd. was purchased by Johannesburg-based Impala Platinum Holdings Limited for CA$1 billion in 2019. Under the terms of the deal, Brookfield Business Partners was paid $570 million for its 81% stake in the company and minority shareholders were paid $19.74 per share. From that point on, the Lac des Iles mine would be operated by the new company called Impala Canada Limited.

Mission
To be the world's best PGM producer, sustaibly delivering superior value to all our stakeholders
Vision
To be the world's best PGM producer, sustaibly delivering superior value to all our stakeholders
Key Team

Mr. Johan Theron (Group Exec. of Corp. Affairs)

Ms. Kirthanya Pillay (Group Exec. of Corp. Devel.)

Mr. Sifiso Sibiya (Group Exec. of Refining & Marketing)

Mr. Alexander Mhembere A.C.I.S., A.C.M.A., M.B.A., ACIS, ACMA, MBA (Chief Exec. Officer of Zimplats)

Ms. Lee-Ann N. Samuel B.A., BA (Group Exec. of People & Exec. Director)

Mr. Jonathan Andrews (Group Exec. of Health & Safety)

Mr. Tebogo T. Llale (Company Sec.)

Recognition and Awards
Impala Platinum is recognized as the largest single producer of Platinum operating at one location considering both opencast and underground operations. The company has achieved many awards and merits, including: Most Efficient Continent Mine award in 2012, Most Productive Company in 2011, Overall Mine Excellence for the past nine years, and Mining Company of the Year for five consecutive years.
References
Impala Platinum
Leadership team

Mr. Nicolaas Johannes Muller B.Sc, B.Sc., Mining Eng. (CEO & Exec. Director)

Ms. Meroonisha Kerber B.Com., C.A. (CFO, Debt Officer & Exec. Director)

Mr. Gerhard S. Potgieter MSc (Chief Operating Officer)

Products/ Services
Mining
Number of Employees
20,000 - 50,000
Headquarters
Johannesburg, NA - South Africa, South Africa
Established
1966
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
IMP.JO
Social Media