{"id":8042,"date":"2012-02-16T14:08:40","date_gmt":"2012-02-16T12:08:40","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-implats-h1-earnings-get-lift-from-weak-rand\/"},"modified":"2012-02-16T14:08:40","modified_gmt":"2012-02-16T12:08:40","slug":"update-1-implats-h1-earnings-get-lift-from-weak-rand","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-implats-h1-earnings-get-lift-from-weak-rand\/","title":{"rendered":"UPDATE 1-Implats H1 earnings get lift from weak rand"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, FEB 16 &#8211; Impala Platinum, the<br \/>\nworld&#8217;s second-largest platinum producer, reported a 66 percent<br \/>\njump in first-half earnings after a weaker rand bolstered the<br \/>\nprice it receives for its product.<\/p>\n<p><span><\/span><\/p>\n<p>The company, which lost 33,000 ounces of output in the last<br \/>\nfour months of 2011 because of government-ordered safety stops,<br \/>\nis currently struggling with labour woes, which could hit output<br \/>\nfor the remainder of the year.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s government has ramped up efforts to reduce<br \/>\naccidental deaths in the its mines, which are some of the<br \/>\nworld&#8217;s deepest and most dangerous.<\/p>\n<p><span><\/span><\/p>\n<p>The safety drive across the gold and platinum industries has<br \/>\ncut output and is a key reason behind a 17 percent spike in spot<br \/>\nplatinum so far this year.<\/p>\n<p><span><\/span><\/p>\n<p>The company said an illegal strike at its Rustenburg<br \/>\noperations which resulted in the firing of over 17,000 workers<br \/>\nhad cost it 60,000 ounces in lost outut as of Feb 14 and the<br \/>\nmine remains shut.<\/p>\n<p><span><\/span><\/p>\n<p>This will bite into its production and earnings for the rest<br \/>\nof its financial year and has prevented it from taking full<br \/>\nadvantage of the recent recovery in the platinum price.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings were 573 cents per share for the six<br \/>\nmonths to the end-December, a huge spike from 345 cents a share<br \/>\nin the same period the previous year.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings, the main profit gauge in South Africa,<br \/>\nstrip out certain one-time items.<\/p>\n<p><span><\/span><\/p>\n<p>The platinum price fell during the period, but that was<br \/>\ncounter-balanced by a sharp decline in the rand which Implats<br \/>\nsaid resulted in exchange gains of 608 million rand. \t<\/p>\n<p> (Reporting by Ed Stoddard; editing by David Dolan)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details) JOHANNESBURG, FEB 16 &#8211; Impala Platinum, the world&#8217;s second-largest platinum producer, reported a 66 percent jump in first-half earnings after a weaker rand bolstered the price it receives for its product. The company, which lost 33,000 ounces of output in the last four months of 2011 because of government-ordered safety stops, is currently [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8042","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8042"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8042\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}