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Wednesday, May 8, 2024
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Zimplats Production Marginally Up

Platinum giant, Zimplats Holdings tonnage mined during the three months to September was up one percent from previous quarter to reach 1.8 million tonnes following the recommencement of Ngwarati Mine.

However, tonnes milled decreased by 5 percent from the prior quarter.

Ngwarati Mine lost substantial production time when in February it reported a fatal injury following the collapse of a high wall at its boxcut.

The group said volumes were however 3 percent lower than those achieved same period last year due to lower productivity as a result of the required ramp up of teams recommencing production at Ngwarati Mine from 1 July 2021 following the successful rehabilitation of the box-cut highwall.

The Group said while ore milled declined by 5 percent from the prior quarter, it was stable relative to the September 2020 quarter.

As a result, 6E production in final product of 143 061 ounces decreased by 7 percent from the prior quarter.

Metal in final product volumes in the September 2020 quarter were impacted by the deferral of concentrates smelted to the December 2020 quarter and therefore, volumes for the quarter under review were 1 percent higher.

Total operating cash costs were 1 percent higher than the prior quarter mainly due to increased Covid-19 spend and insurance costs.

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The combination of lower production volumes and higher operating costs resulted in a 4 percent quarter-on-quarter and a 7 percent year-on-year increase in operating cash costs of US$680 per 6E ounce.

A total of US$0.4 million was spent on exploration projects, with a further US$1.1 million committed as at 30 September 2021.

Exploration activities included mineral resource evaluation, comprising approximately 8 621 metres of surface diamond drilling over existing projects on the two mining leases.

 

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