Implats CEO says FY 2015 costs will "not be pretty" - CNBC Africa

Implats CEO says FY 2015 costs will "not be pretty"

Earnings

by Reuters 0

Impala Platinum faces a tough task to reduce costs in its next financial year. PHOTO: Getty Images

This is due to the impact of a five month strike at its key South African operations, its chief executive said on Thursday.

"Costs in 2015 are not going to be pretty," [DATA IMP:Impala Platinum Holdings Limited]'s Terence Goodlace told reporters after the company unveiled a 74 percent fall in its earnings for 2014.

Goodlace said as the company ramped-up operations, it expected to produce 250,000 ounces at its strike-hit Rustenburg shafts in the six months to the end of December, compared to 390,000 ounces last year.

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