IMPALA Platinum’s executive bonuses have come under scrutiny after worker fatalities at its operations, Bloomberg reported, citing Institutional Shareholder Services (ISS).
In an exclusive report, Bloomberg said the world’s biggest proxy-advisory firm had raised concerns about parts of Implats’ remuneration policy ahead of the miner’s annual general meeting on October 29.
ISS recommended that shareholders vote in favour of all resolutions at the meeting, but said executive bonus payments could attract scrutiny given the number of fatalities reported during the year.
“Potential concerns continue to be identified under the remuneration policy,” ISS said in a note to clients seen by Bloomberg. It also flagged Implats’ ability to make sign-on and retention payments.
Four Implats employees died in accidents in the year to June 2026, according to the company’s annual report. Implats said the fatalities were regrettable, even as its overall injury rates improved.
A further two employees died in July, prompting Implats to suspend operations at its biggest mines while it reassessed safety procedures.
Eight workers died in accidents in the previous financial year.
Implats declined to comment to Bloomberg.
CEO Nico Muller received total pay of R69m in the year to June 2026, 39% more than a year earlier. Incentives and benefits accounted for 79% of the total.
CFO Meroonisha Kerber and executive director Lee-Ann Samuel also received increases of a similar scale.
By comparison, Craig Miller, CEO of larger rival Valterra Platinum, was paid about R46m in the year to December 2025.