Impala Platinum, a South African mining firm, anticipates a 20% drop in profits through Dec 2022, attributed to lower metal prices from electric vehicle growth and weakened auto demand.

Impala Platinum, a South African mining company, expects a 20% decline in profits for the six months leading up to December 31st, primarily due to lower metal prices. The decline is a result of weakened automotive demand and increased sales of electric vehicles, which has consequently lowered the prices of platinum group metals. The mining company's headline earnings and earnings per share were 14 billion rand and 16.54 rand, respectively, during the same period in 2022.

January 31, 2024
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