Impala Platinum Holdings said its second-half profit likely fell by more than 85% as the company battled with slumping metal prices and wrote down the value of assets in South Africa and Canada.
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Profit for the six months through December probably dropped between 86% and 93% to 1 billion and R2 billion, the Johannesburg-based miner said on Thursday.
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Implats versus Amplats share price over 12 months
Rival Anglo American Platinum also reported a slump in earnings on Thursday, with 2023 profit falling by as much as 79% to between R10.1 billion and R15 billion. It also cited lower prices of platinum-group metals.
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