By Business Reporter – Friday 8 May 2020
HARARE (Mining Index) – PLATINUM production at Zimplats rose by 32 percent while 6E production (platinum, palladium, rhodium, ruthenium, iridium and gold) increased 31 percent from the previous quarter.
The group said operating cash cost per 6E ounce however decreased by 18 percent from the previous quarter largely as a result of the 31 percent increase in 6E metal production.
“During the previous period metal production was impacted by an increase in concentrate stocks and build-up of inventory in the furnace after a major rebuild shutdown. Some concentrate stocks produced in the previous quarter were smelted in the quarter under review,” said Zimplats in its report for the quarter ended 31 March 2020.
The group’s operating cash costs fell three percent from the preceding quarter.
Zimplats said due to the smelting of concentrates stockpiled in the previous quarter, US$2.2 million was transferred from opening stock to operating cost. In the previous quarter US$6.9 million was transferred from operating costs to closing stocks.
Production of mined ore was impacted by less operating days in the period under review and decreased marginally from the previous quarter, despite an increase of 2 percent in tonnes milled due to higher running time.
“Running time in the previous quarter was affected by the planned mill reline shutdown at the Selous Metallurgical Complex (SMC) concentrator plant,” said Zimplats.
Group operations continue to operate in the wake of COVID-19, subject to strict adherence to the World Health Organisation (WHO) safety and hygiene standards.
Zimplats revealed its safety performance improved during the quarter, recording two lost-time injuries against four recorded in the previous quarter. The Group achieved 1.9 million fatality free shifts during the period under review.
Out of a total of US$1.1 million committed to exploration projects during the period under review, the group spent US$0.4 million of its budget. ENDS// www.miningindex.co.zw
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