eBusiness Weekly
Enacy Mapakame
Zimbabwe’s largest platinum producer Zimplats Holdings Limited six elements (6E) production for the quarter to June 30, 2019 increased 3 percent to 147 136 ounces compared to 143 446 ounces achieved in the previous quarter.
Year-on-year the 6E, which comprise platinum, palladium, gold, rhodium, ruthenium and iridium, grew 6 percent mainly due to metal recovered from draining the furnace for the major rebuild, which commenced on June 10, 2019 (3 036 ounces of 6E).
The growth was despite a 2 percent decrease in ore mined in the period under review from the previous quarter mainly due to a temporary work stoppage following the fatal accident experienced at Mupfuti Mine in April 2019.
Of the 6E metals, platinum was the biggest contributor after 67 978 ounces were produced during the quarter under review, representing a 2 percent and 4 percent increase from previous quarter and prior year’s comparable quarter respectively.
At 57 258 ounces, palladium grew 4 percent from previous quarter and 8 percent year-on-year. Gold remained flat from previous quarter, but jumped 18 percent from the comparable prior year period.
Ore mined increased by 7 percent from the prior year’s comparable quarter ended June 30, 2018, largely due to fleet productivity improvements undertaken in financial year 2019.
Tonnes milled decreased by 2 percent from the previous quarter due to planned mill reline shut-downs at both concentrators during the quarter under review.
Zimplats indicated that the operating cash cost per platinum ounce decreased by 12 percent from the previous quarter, mainly due to a 10 percent decrease in operating cost and a 2 percent increase in platinum production. Operating cost decreased from the previous quarter mainly due to improved efficiencies.
On exploration work, the platinum producer utilised a total of US$2,67 million for the year ended June 30, 2019 on surface drilling (26 628 metres), sample assay analysis and geophysics ahead of mining all portals.
