Valterra Platinum's profits plummet in interim results

Stephen Grootes speaks to Craig Miller, CEO at Valterra Platinum about the mining company’s interim results.

Listen to the interview in the audio player below. 

Valterra Platinum on Monday reported its headline earnings down 81% in the six months to the end of June.

The mining company also recorded a 25% drop in sales, as well as a R1,4 billion in costs from its demerger from Anglo American Platinum.

The drop in sales of Platinum Group Metals (PGMs) is largely attributed to the impact of flooding at its Amandelbult operations following heavy rains earlier in the year.

Speaking to Stephen Grootes on The Money Show, Craig Miller, CEO at Valterra Platinum says they're already looking ahead to the second half of the year.

"The impact of the Amandelbult flooding which took place in February, certainly had the biggest contribution to our decline in earnings."

- Craig Miller, CEO - Valterra Platinum

"Incurring the cost of, not only the demerger, but the separation from Anglo American. Those are once-off events, so a large part of those earnings been impacted in the first half."

- Craig Miller, CEO - Valterra Platinum

"We're already looking ahead to the second half, where we're ramping up production at Amandelbult and at our other operations."

- Craig Miller, CEO - Valterra Platinum

Scroll to the top of the article to listen to the full interview.