Royal Bafokeng Platinum narrows H1 loss, says U.S./China tariffs cloud H2 (updated)

Platinum Metals

06/08/2018 07:08

(Adds details)
    JOHANNESBURG, Aug 6 (Reuters) - South African platinum
producer Royal Bafokeng Platinum  RBPJ.J  said on Monday its
half-year loss narrowed, with costs related to an impairment and
its newly acquired Maseve operations keeping it in the red.
    The mid-tier producer also warned that "uncertainties over
trade tariffs" in the United States and China "may cloud the
second half of 2018."
    The company reported a headline loss per share of 6 cents
for the six months ended June 30, compared with a loss per share
of 15.3 cents a year ago. HEPS is the main profit gauge in South
Africa, which strips out certain one-off items.
    EBITDA improved by 13.4 percent and platinum production rose
6.6 percent to 106,500,000 ounces for the half-year period.
    Earnings were however constrained by a 25.9 million rand 
($1.95 million) impairment from feasibility study costs for the
Styldrift concentrator plant and 20.5 million rand in costs
related to the newly acquired Maseve concentrator plant and
mine. 
    Platinum Group Metals  PTM.TO  said in September it would
sell its Maseve to RBPlat in a transaction valued at around 
$74.0 million.  urn:newsml:reuters.com:*:nFWN1LN09V
    ($1 = 13.3499 rand)

 (Reporting by Tanisha Heiberg; Editing by Ed Stoddard)
 ((Tanisha.Heiberg@thomsonreuters.com; +27117753034; Reuters
Messaging: tanisha.heiberg.thomsonreuters.com@reuters.net))