South Africa’s platinum company, Implats (Impala platinum) on Tuesday said that the reduction in the production of platinum was due to a stock buildup coupled with the scheduled furnace maintenance at its Impala and Zimplats operations.

During the first-quarter platinum production fell 6.6 percent and gross refined platinum fell from 365,200 ounces which it was at this period last year to 341,200.

However, Implats said it milled 6,741,000 tonnes in the first quarter compared with 6,149,000 tonnes in the same period last year.

The full year’s production is expected to be between 1.51 million ounces and 1.56 million ounces of platinum, which will be according to the forecast the company said.