Implats seeks to deliver sustained value to its key stakeholders. This is achieved by leveraging, strengthening and growing the Group’s competitive mineral portfolio and collection of processing assets, and through its commitment to responsible stewardship, operational excellence and an optimal capital allocation framework.


The widespread use of our products, their recyclability and our commitment to ensure we produce them in a safe, socially and environmentally sensitive and responsible manner, underpins their appeal as the world increases its focus on the environment.

Demand for our primary products has evolved over time in response to:

The emergence of the hydrogen economy will result in structural demand growth for platinum, iridium and ruthenium over the next decade, offsetting the impact of rising electrification of the light-duty vehicle fleet.

Primary supply is highly concentrated with limited expectations for medium-term expansion due to significant barriers to entry, including constrained processing capacity, rising regulatory oversight, increasing stakeholder requirements and prudent capital allocation by the producing peer group.

Implats sustains and grows value by supporting present and future demand drivers, with strong customer relationships and production aligned to evolving demand. The Group plays a leading role in industry bodies and collaborates with industry partners and peers to leverage relationships to enhance future value creation.

Responsible stewardship

Implats aspires to become an industry leader in its environmental, social and governance performance, producing metals that sustain livelihoods beyond mining to create a better future.

Our commitment to superior ESG practices is recognised in several rankings by leading global and regional agencies. A low-carbon transition strategy is in development to guide decarbonisation efforts, strengthen energy security and position the Group in the new energy value chain.

Constructive and beneficial relationships with mine-host communities and sustainable socio-economic development remain priorities for the Group and its leadership.

Asset portfolio

Our mineral resource portfolio is geographically diverse and dominated by low-cost, mechanised ore bodies. Our ore bodies are well understood and defined, and life-of-mine extensions have been delivered through expanded reserve positions across the portfolio.

Implats has announced expansion projects at Zimplats and joint venture operation, Two Rivers. These capital-efficient and quick-to-market brownfields expansions at the Group’s lowest-cost operations will deliver 9% or 260 000 6E ounces mine-to-market production growth by 2021

Processing capacity

The ability to process and market Implats’ expanding production base remains a core competitive advantage, which will be leveraged for additional future benefit. The changing ore mix of our growing production profile, and the aspiration to improve the energy efficiency and environmental impact of the Group’s value chain, will result in a series of studies aimed at proposing the optimal route for expanding our smelting and refining assets. Implats is well positioned to extract mine-to-market margins for the Group while creating flexibility to influence future supply through the granting of tolling capacity.

Capital allocation framework and priorities

Implats’ capital allocation framework aims to deliver, sustain and grow meaningful value for all stakeholders and provide attractive returns to shareholders, while retaining financial flexibility for the Group.

Implats’ balance sheet is strong, with a substantial cash buffer and increased funding flexibility through upsized and refinanced facilities. The Group is well positioned to allow a meaningful shift in capital allocation priorities to enhance shareholder returns and fund the sustainable and efficient growth of its asset base.

Management actions

The Group’s strategic repositioning over the past several years has enabled it to leverage the windfall on PGM pricing to strengthen the business, care for employees, reward investors and secure future growth and sustainability.

The operational focus in the near term is on:

Improving our climate change-related practices and disclosures

The Financial Services Board’s Task Force on Climate-related Financial Disclosures (TCFD) recommendations for voluntary and consistent climate-related financial risk disclosures has gained prominence as a guide to best practice reporting on climate change.

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Increasing use of technology to monitor tailings dams

Technology has a vital role in strengthening the monitoring of our tailings facilities. A particular focus is the increasing use of drones to monitor environmental and critical controls, and to document inspections through photographs and video.

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Growing the hydrogen economy

Hydrogen is a versatile, zero-emission energy carrier with a high energy density. It can also be stored in large quantities and for long periods. The Hydrogen Council currently estimates that hydrogen could represent 18% of global energy demand by 2050.

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