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Mimosa platinum output declines
29/04/2014 00:00:00
by The Source
 
Platinum output down ... Mimosa MD Winston Chitando
 
RELATED STORIES

PLATINUM production at Zimbabwe’s second largest platinum producer Mimosa Mine’s platinum group metals output dropped seven percent to 51,907 ounces quarter-on-quarter, after a plant shutdown in February, its parent company said on Tuesday.

Ore production fell five percent to 598,094 tonnes from 568,608 tonnes in the third quarter to March 31 after below budget metal recoveries and power outages.

Stockpiles at the end of the quarter totalled approximately 165,060 tonnes.

Revenue slightly increased by one percent to $63 million from $62 million in the previous quarter due to high metal prices, which improved by two percent in the quarter said Aquarius, which co-owns Mimosa with Implats.

Mining cash costs increased by nine percent to $81 per tonne, and costs per PGM ounce also rose by seven percent to $892 due to decrease in production.

Capital expenditure stood at to $6.5 million.

“Expenditure was incurred mainly on mobile equipment, drill rigs and LHDs, the conveyor belt extension and down dip development,” said Aquarius in a third quarter update.



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