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S.Africa's Impala Platinum misses production target amid power crisis
South Africa's Impala Platinum's refined platinum group metal (PGM) output declined 4% in the year ended June 30, missing its production forecast amid persistent electricity cuts, the company said on Monday. The production decline and weaker metal prices will see Impala's headline earnings per share (HEPS) decline by more than 20%, compared to the 38.53 rand ($2.07) reported last year. Impala said in a production update its refined PGM output for the year was 2.96 million ounces, just missing out on its production guidance range between 3 and 3.15 million ounces. "Regional power constraints provided a notable ... (full story)