IMPALA REFINERIES PROJECTS The nature and quantum of ore feeds contributing to the group's PGMs production continues to evolve over time, while ounce production is set to increase in line with Implats' growth and beneficiation strategy, with R3.9-billion over five years being allocated to improving the South African refining facilities. About R50-million has been approved to debottleneck sections of the Base Metals Refinery in Springs and expand treatment capacity by 10% in the medium term to provide room for future growth. In addition, a new precious metals facility is being built, which includes three new processing sections and acquired utilities and ancillary areas. Feasibility studies into further capacity expansions at the South African base and precious metals refineries are also well advanced. MARULA'S PHASE II EXPANSION PROJECT The R5.1-billion Marula Phase II project was approved by the board during the year.