Impala Platinum’s output of refined platinum group metal (PGM) fell 9% year-on-year in the second half of 2022 as power cuts and a furnace rebuild hit smelter operations, the company said on Friday.

In a production update, Impala said it had lost an estimated 38,000 refined PGM ounces, nearly 3% of total refined output, due to load-shedding.

Impala’s refined output declined to 1.476-million ounces in the six-month period, down from 1.617-million ounces in the same period last year.

“Smelting capacity was constrained by the increased occurrence and severity of load-shedding and worsened by the commencement of the scheduled rebuild of the No 4 furnace in Rustenburg,” Impala said.