Impala Platinum Holdings Limited - Implats Withdraws From Ambatovy
IMPALA PLATINUM HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(registration No. 1957/001979/06)
ISIN: ZAE000003554
JSE Share Code : IMP
LSE Share Code : IPLA
ADR Code : IMPUY
("Implats" of the "the company")
IMPLATS WITHDRAWS FROM AMBATOVY
Following a meeting in London on 30 November 2005 between Dynatec Corporation,
Sumitomo Corporation and Impala Platinum Holdings Limited (Implats), Implats
advises that pursuant to its review of the Ambatovy Project, it has delivered a
formal notice of withdrawal under the Shareholders Agreement.
Internationally, both the capital and production costs relating to mining
projects have escalated since the initial feasibility study was completed in
February 2005. While there were synergies for Implats" own nickel production
cost profile in Implats view, the project as a whole would not meet Implats"
hurdle rates.
Johannesburg
1 December 2005
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
Date: 01/12/2005 09:01:03 AM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
