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Zimplats slips on low prices and mine closure

Malcom Sharara

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The new data showed that Nigeria's economy grew $453bn in 2012 and expects a jump to $509bn for 2013. (Shutterstock)

Harare - Impala Platinum's [JSE:IMP] Zimbabwe-based unit Zimplats reported a significant drop in profits for the half-year ended December 31 2014.

According to the results published by the miner on Thursday, net profit at US$3.9m was 88% lower than the $32.2m of the same period last year.

Management said this was largely due to lower sales volumes and metal prices coupled with the write-off of the Bimha mine.

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