Condensed Consolidated Interim Results for the six months ended 30 June 2022
Creating economic value for all our stakeholders by delivering
MORE THAN MINING
RBPlat is a mid-tier producer of platinum group metals (PGMs) listed on the Johannesburg Stock Exchange with operations on shallow long-life Merensky and UG2 ore bodies located on the Bushveld Igneous Complex in the North West province of South Africa. We focus on extracting value from the PGMs and base metals we mine that make a difference in people's lives.
We own and operate two mines and two concentrators:
Bafokeng Rasimone Platinum Mine (BRPM), a twin decline shaft system with an average mining depth of 450m, is a conventional and hybrid mining operation
Styldrift Mine (Styldrift), a twin vertical shaft system, is a mechanised bord and pillar mining operation with an average mining depth of 680m
BRPM concentrator, is a 250ktpm capacity traditional MF2 process concentrator
Maseve concentrator has been upgraded to a MF2 process concentrator.
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COMMENTARY
OVERVIEW
The first half of 2022 was characterised by uncertainty and geopolitical tensions as Russia invaded Ukraine. This led to the palladium price reaching a record high in the first quarter of the year, however, PGM prices have since come down as Russia continues to supply palladium to the market. The war in Ukraine has affected global supply chains resulting in inflationary cost pressures impacting profit margins and raising fears of a global recession. The Covid-19 lockdown in China further exacerbated existing supply chain challenges.
After more than two years of the Covid-19 pandemic, all indications show it is now under control. Our dedication towards health and wellness in order to maintain a safe work environment has resulted in 94% of our employees being fully vaccinated. This resulted in limited exposure to the impact of the 5th wave of Covid-19. Although all Covid-19 restrictions have been lifted we still encourage our employees to continue taking the necessary safety precautions as we move towards returning to normality.
After more than two years of the Covid-19 pandemic, all indications show it is now under control. Our dedication towards health and wellness in order to maintain a safe work environment has resulted in 94% of our employees being fully vaccinated. This resulted in limited exposure to the impact of the 5th wave of Covid-19. Although all Covid-19 restrictions have been lifted we still encourage our employees to continue taking the necessary safety precautions as we move towards returning to normality.
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FINANCIALS
Condensed consolidated interim statement of financial position
Condensed consolidated interim statement of comprehensive income
Condensed consolidated interim statement of changes in equity
Condensed consolidated interim statement of cash flows
Notes to the summary consolidated annual financial statements
