Chief Executive Officer Nico Muller appointed an analyst to help the Johannesburg-based company understand the base-metals market. Copper and nickel, which Implats already produces alongside platinum-group metals, will be a particular focus, he said.
“We do recognize the threat of electrification and as a consequence we said that we will be looking to diversify our portfolio, in particular into forward facing metals associated with renewable energy and the energy transition,” the CEO told reporters on Thursday, after profit slumped 85% in the 12 months through June.
“Certainly, RBPlats is going to require a lot of attention in order to get the cost of operation to the position that we aspired to when we made the offer for the company,” said Muller, commenting on challenges at its Styldrift mine. Those mechanized operations were prized as key to the future profitability of adjacent Implats shafts in Rustenburg.