About Implats
How we create value

While maintaining our social licence to operate, we will continue our cash preservation initiatives as well as the drive to enhance productivity and profitability. We continue to invest in our operations and will mechanise and optimise through the downturn to ensure we are well-positioned for the future.

Business Model

Process


Group strategic risks.

  • Depressed PGM basket prices
  • Non-delivery of production and productivity targets at Impala Rustenburg
  • Weak balance sheet and cash flows (liquidity)
  • Excessive taxation and levies at Zimbabwean operations
  • Revenue impact of Section 54
  • A deterioration in safety performance
  • Unavailability of secure and reliable power in South Africa and Zimbabwe
  • Capital constraints affecting project delivery
  • Employee relations climate
  • Maintaining a social licence to operate


  • Non-controllable
  • Controllable
  • Partially controllable

Material opportunities.

MINING OPERATIONS

  • Grow/maintain production volumes of all mining operations
  • Volumes have a significant impact due to high fixed cost base
IRS
  • Opportunity to leverage spare capacity in world-class refining asset
EMPLOYEE RELATIONS
  • Build on industry-leading housing initiative in terms of which Implats has already spent R3,7 billion over the last eight years on employee housing in South Africa


Value added statement

VALUE ADDED STATEMENT
for the year ended 30 June
2016 
Rm 
Revenue 16 976 
Net cost of products and services (9 503)
Value added by operations 7 473 
Other net (expenditure)/income 132 
Depreciation (2 014)
Total value added 5 591 
Employee benefits 5 009 
Labour and other 5 147 
Share-based payments (138)
The state as direct taxes 284 
Deferred tax (841)
Royalty recipients 516 
Providers of capital 693 
Financing costs 620 
Non-controlling interest 27 
Dividends 46 
Total value distributed 5 661 
Reinvested in the Group (70)
  5 591 

Positive and negative outcomes

Human

Human

  • Injuries and fatalities
  • Occupational health (NIHL)
  • Skilled leaders and employees
  • Economic empowerment of our people
  • Equity and transformation


  • Positive
  • Negative

Financial

Manufactured

Social & Relationship

Intellectual

Natural