Ziegler, Ziegler & Associates LLP
                                Counselors at Law
                         555 Madison Avenue, 11th Floor
                            New York, New York 10022
                                 (212) 319-7600
                            Telecopier (212) 319-7605

                                December 6, 2002

Deutsche Bank Trust Company Americas,  as Depositary
60 Wall Street
New York, New York 10005

                           American Depositary Shares
                    evidenced by American Depositary Receipts
                             for deposited Shares of
                        Impala Platinum Holdings Limited
                        --------------------------------

Dear Sirs:

         Referring to the Registration Statement on Form F-6 relating to the
above-entitled American Depositary Shares ("ADSs") evidenced by American
Depositary Receipts ("ADRs") each ADS representing one-half of one share of
Impala Platinum Holdings Limited (the "Company"), a corporation incorporated
under the laws of the Republic of South Africa. Capitalized terms used herein
that are not herein defined shall have the meanings assigned to them in the
Deposit Agreement appearing, or incorporated by reference, in Exhibit (a) to the
Registration Statement.

         We are of the opinion that the ADSs covered by the Registration
Statement, when issued in accordance with the terms of the Deposit Agreement,
will, when sold, be legally issued and will entitle the holders thereof to the
rights specified in the Deposit Agreement and the ADRs.

         The foregoing opinion is limited to the Federal laws of the United
States and the laws of the State of New York, and we are expressing no opinion
as to the effect of the laws of any other jurisdiction.

         We hereby consent to the use of this opinion as Exhibit d of the
above-mentioned Registration Statement. In giving such consent, we do not admit
thereby that we are within the category of persons whose consent is required
under Section 7 of the Securities Act of 1933, as amended.


                                          Very truly yours,

                                          /s/ Ziegler, Ziegler & Associates LLP