By Business Reporter – Monday 3 August 2020
HARARE (Mining Index) – 6E METAL production in final product increased 6 percent from the previous quarter, benefiting from the treatment of reverts stockpiled when the furnace was drained in June 2019 for the 122-day major rebuild shutdown, Zimplats revealed in its quarterly report ended 30 June 2020.
“Operating cash costs per 6E ounce dropped 7 percent from the previous quarter due to the 6 percent increase in 6E metal production and improved efficiencies,” said Zimplats.
Comparatively, 6E production for the quarter ended 31 March 2020 rose 31 percent compared to preceding quarter ended 31 December 2019, which recorded a 23 percent decline.
Ore mined for the quarter ending 30 June 2020 increased by 2 percent % from the previous quarter owing to increase in the number of operating days.
Tonnes milled reduced by 1% from the previous quarter due to lower running time at the concentrators. Running time for the quarter under review was affected by the planned mill reline shutdown at the Selous Metallurgical Complex (SMC) concentrator plant.
US$1.2 million was transferred from operating costs to closing stocks during the quarter compared to US$2.2 million transferred from closing stocks to operating costs in the previous quarter.
A total of US$0.3 million was spent on exploration projects during the quarter and US$0.7 million was committed.
The Group continued to operate as part of the essential services in Zimbabwe, subject to strict adherence to World Health Organisation (WHO) safety and hygiene standards.
“By the end of the quarter, the Group had not recorded any confirmed COVID-19 cases at its operations,” said Zimplats.
Additional costs were incurred to minimise the spread of COVID-19 among employees and the community in which the Group operates.
Resultantly, total operating cash costs increasing by 2% from the previous quarter owing to increased production and sales. ENDS// www.miningindex.co.zw
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