adminMimosa Platinum Mine saw its revenues jumping 39 percent to US$96 million in the period under review as the company benefited from firming world metal prices.
Production of platinum group metals at the mine was also up 9 percent to reach 51 255 ounces over the quarter ended March 31.
Aquarius Platinum holds a 50 percent interest in Mimosa with the balance controlled by South Africa-based Impala Platinum.
In a statement, Aquarius chief executive officer Mr Stuart Murray attributed the positive performance to the strong commodity prices that prevailed during the period.
On the other hand, Zimbabwe Platinum Holdings, which is 87 percent owned by Impala, saw its output of metal concentrate dip to 84 000 tonnes for the quarter to March 2011, down from 92 964 tonnes the previous quarter after maintenance work on its mine. Revenue during the period also declined to US$130,5 million compared to US$139,8 million the previous quarter, affecting operating profit, which dipped to US$65,5 million.
Briefing journalists during the firm’s operations update recently, Zimplats chief executive Mr Alex Mhembere attributed the depressed performance to maintenance shut- down of its two concentrators during the quarter.
Online Reporter