Our operating environment
- Across emerging markets and developing economies, debt increased rapidly resulting in the need for strengthened fiscal policies to stabilise and spur economic recovery.
- Debt containment is a growing imperative for governments, in the face of a critical need for infrastructure and social spending to mitigate social unrest.
- Further escalation in trade tensions, rising geopolitical risks and policy uncertainty in major economies, could lead to a sudden deterioration in risk sentiment, which could see capital flows retreat from emerging market and frontier economies and impact negatively on commodity prices.
- We remain cautious on a platinum price recovery given a sluggish growth in demand and a continued surplus and expect slight growth in the palladium and rhodium markets.
- We have intensified in-country stakeholder engagement with governments at all levels.
- We actively and continuously assess conditions in the countries where we sell our metals across all the key demand sectors.
- Our market development activities are tailored to support key market segments and grow new areas of demand. We are aligned with and support key institutional partners (such as WPIC, PGI, IPA).
- Relationships with key customers, globally, are grown and sustained.
- Supply/demand fundamentals have a direct impact on metal prices and market sentiment, resulting in platinum prices remaining subdued, with palladium and rhodium prices growing strongly more recently.
- Low metal prices have a direct impact on profitability, the generation of shareholder returns and our ability to fund and grow the business into the future.
- The potential for prolonged, relatively flat platinum prices remains strong.
- Palladium should continue to receive strong price support, incentivising a partial switch back to platinum use in the auto sector.
- Platinum and palladium will continue to receive demand support from increasing emission regulations and growth in the global vehicle fleet in the short to medium term.
- Implats uses conservative price forecasts, given muted platinum sentiment and global risk factors.
- Group-wide cost-saving and turnaround initiatives have been implemented over the past four years.
- To sustainably improve its competitive position, profitability and financial returns, Implats has committed to a value-over-volume focused strategy. The Group is reducing its exposure to higher-cost, labour intensive conventional operations to improve flexibility, capacity and sustainably generate attractive returns.
- The strategic transformation of Impala Rustenburg is designed to unleash the value of the operation, for the benefit of all stakeholders, and for the long-term sustainability of the Group.
- A maintained focus on cash conservation and strengthening the balance sheet.
- Rigorous capital allocation criteria with a focus on low-cost, palladium-rich, mechanisable assets.
- The decline in Chinese jewellery demand is one factor driving negative sentiment around platinum, affecting price and investment decisions.
- A wholesale change to different vehicle technologies will impact the demand for our metals with consequent metal price impacts.
- Pure battery EV development will have a larger impact on value.
- The impact on value from hybrid electric/internal combustion engines will be less significant.
- We continue to focus on maintaining our visibility and marketing spend in China through the PGI, focusing on platinum bridal jewellery at bridal fairs in Tier 1 cities.
- The EV market is overestimating the negative impact of powertrain electrification on platinum demand in the long term. The move towards EVs can only be answered by having a large part of the vehicle fleet as hybrid, plug-in hybrid and fuel-cell vehicles, all of which contain PGMs.
- Diesel technology remains essential to reducing global vehicle fleet greenhouse gas emissions.
- We continue to support the International Platinum Association (IPA) in their engagement with and lobbying of automotive-related policymakers and local and national governments.
- Long-term, we expect a growing hydrogen economy and the increasing adoption and advancement of fuel cell vehicles.
- Stakeholder expectations and our response to these have a significant impact on our legal and social licence to operate, which in turn could impact on investment decisions and the Company’s bottom line.
- The section 189 processes in place at Impala Rustenburg, as well as the wage negotiations, increase tensions with union shop stewards and head office officials, leading to increased labour action risks.
- Retrenchment has the potential to damage the trust relationship with the Department of Mineral Resources.
Our response
- We continue to implement rigorous and effective stakeholder engagement strategies, to build and maintain value-enhancing relations with all key stakeholders, to create sustainable shared value and to secure our social licence to operate.
- Implats has developed supporting systems, processes, policies, targeted engagement and communication plans to this end.
- In all cases where job loss avoidance measures are not successful, Impala Rustenburg is committed to implementing the required changes in consultation with all social partners to mitigate the socio-economic impacts as far as possible.
- Discussions are ongoing with key stakeholders, including government and the relevant trade union representatives, on the restructuring and wage negotiations – to secure the future viability of the Group to the benefit of all stakeholders.
- Scarcity of water in the region and insecurity of power supply impacts our ability to operate effectively and the increasing cost of resources has a negative impact on profitability.
- There is also an indirect impact on our social licence to operate as we share these resources with local communities.
- Growing regulatory and social pressure, increasing demands for limited natural resources and the changing costs of energy and water all highlight the business imperative of responsible environmental management.
- Implats has an environmental policy that commits the Group to conducting its exploration, mining, processing and refining operations in an environmentally responsible way and to ensure the well-being of its stakeholders.
- The policy also commits to integrating environmental management into all aspects of the business with the aim of achieving world-class environmental performance in a sustainable manner.
- We work actively with all stakeholders to conserve natural resources.
- Measures have been taken to address security of resource supply – for example through efficiency, recycling and fuel-switching – and to actively minimise our impacts on natural resources and on the communities around our operations.
- These measures have direct benefits in terms of reduced costs and liabilities, enhanced resource security and the improved security of our licence to operate.
Source: https://www.implats.co.za/operating-environment.php
Reporting directly to the Planning/Reliability General Foreman, the Electrical Maintenance Planner is responsible for liaising between Engineering, Operations and Maintenance groups to ensure the maximum use of Maintenance resources while minimizing interruptions to Operations and Production.
Working a fourteen (14) day on fourteen (14) day off rotation at the mine site, the successful candidate will be responsible for leading and directing the Fixed Plant Maintenance Crews, while ensuring they work in a safe and productive manner at Lac des Iles Mine.
LDI mine is looking for a motivated individual to join our Safety team. Reporting to the Safety Superintendent, you will work an 8 days on / 6 days off schedule at the Lac des Iles Mine site.
Reporting to the Technical Services Manager, working a four (4) day on three (3) day off rotation or an (8) day on six (6) day off rotation at the mine site, the successful candidate will be in charge of Lac des Iles Mine’s medium to long term planning and scheduling.
Reporting to the Mill General Foreman on a 14 days on, 14 days off rotation, the successful candidate will be responsible for leading and directing the Mill Operations Crews, while ensuring they work in a safe and productive manner at Lac des Iles Mine.
- They must demonstrate the skills to prepare for long-hole blast following cleaning and loading prints, selecting blasting agents, operating loading equipment, loading holes, determining firing sequence, blasting the face and perform other duties as required and assigned by the supervisor.
- They must demonstrate the skills to operate and maintain various LHD’s on remote control, inspecting Draw-Points “Safe Limit Lines”, Remote Stands, handling oversize muck, secondary blasting and perform other duties as required and assigned by the supervisor.
- They must demonstrate the skills to operate and maintain various LHD and haul trucks and perform other duties as required and assigned by the supervisor.
- Maintain, troubleshoot, and repair all on-site mobile equipment (surface heavy equipment, underground equipment and all service vehicles).
- Service, repair and perform routine preventative maintenance on all stationary equipment on site, including hoisting and underground
- Direct and troubleshoot irregularities and malfunctions with all plant related equipment