Mimosa output flat


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The world’s second largest platinum miner, Impala Platinum, says production at its 50 percent owned Mimosa Mine in Zvishavane remained unchanged at 30 000 ounces of platinum in the third quarter to March 31.

In its unaudited production report for the quarter, Implats said tonnes milled were at 670 000, down on the 676 000 tonnes over the same period last year.

In the nine months to March 31, tonnes milled rose by 2.5 percent to 2.04 million tonnes, compared to 1.99 million tonnes in the prior corresponding period.

“The increased throughput yielded 1.1 percent  higher platinum in concentrate production of 91 000 platinum ounces, compared to 90 000 platinum ounces reported in the prior corresponding period,” the miner said in a trading update.

The group also owns Zimplats in Ngezi, Marula and Two Rivers in South Africa.

Implats co-owns Mimosa with South Africa’s Sibanye Gold, which bought out the Bermuda registered Aquarius Platinum last year.

Commenting on the results, acting chief executive, Gerhard Potgieter, said: “I am pleased to report that there has been encouraging progress across the Group in meeting our strategic objectives, despite persistently low metal prices and a challenging operating environment.”

 

See also:

Zimplats profit doubles to $42 million

(21 VIEWS)

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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