adminOliver Kazunga, Senior Business Reporter
ZVISHAVANE-BASED platinum miner, Mimosa Mining Company, has marginally increased output to 30 129 ounces in the first quarter compared to 29 975 oz during the same period last year.
The platinum producer is a joint venture between South Africa’s Sibanye and Impala Platinum. In its trading update, Sibanye indicated that in the first three months of the year, Mimosa’s tonnes milled totalled 338 000 tonnes while during the comparable period last year, 335 000 tonnes were milled.
According to the trading upgrade, during the period under review, Mimosa’s plant head grade was 3,56 grammes per tonnes compared to 3,58g/t in the same period last year.
Plant recoveries were, however, up at 78,15 percent during the period under review compared to 77,22 percent in the same period in 2017. It said ongoing cost benefit derived from cost and operational synergies realised in 2017 resulted in an eight percent reduction in underground operating cost for the Southern African Platinum Group of Metals (PGM) operations to $922 per oz.
“At the Rusternburg operations, 4E PGM production of 195 578oz during the March 2018 quarter was consistent with the comparable period in 2017.
“Kroonfal, Mimosa and Platinum Mile reported attributable 4E PGM production of 90 616oz for the quarter ended March 2018 which is in line with production for the comparable period in 2017 (90 409 oz).”
Sibanye said due to the impact of the strong South African Rand on cash flow in the March 2018 quarter, a decision has been taken to defer all non-essential capital expenditure.
On the outlook, it said 2018 remains positive with its operations expected to maintain strong operational performance reported in the quarter under review.
@okazunga
derick.khumalo