Mimosa sees decrease in milled platinum in Q1

PLATINUM producer, Mimosa Mining Company, has reported a 2,1 percent decrease in milled platinum to 702 000 tonnes in the first quarter ended September 30, 2018.

In its production update for the period under review, the firm attributed the decrease to planned maintenance at Mimosa during the reporting period.

“Tonnes milled during the period decreased by 2,1 percent to 702 000 tonnes, compared to 717 000 tonnes in the previous comparable quarter, impacted by planned mill maintenance during the reporting period,” it said.

As a result of lower milled tonnage and mill grade, platinum production in concentrate at Mimosa during the period under review also slid by 6,3 percent to 30 000 ounces from 32 000 ounces in the prior corresponding period.

Early this year, the Zvishavane-based mining company indicated plans to ramp up output over the next three years to cushion itself against declining ore grade and depressed platinum prices on the international market.

Mimosa, jointly owned by Aquarius Platinum and Impala, is presently sitting on 230 million tonnes of platinum ore reserves with a lifespan of 30 years.

Meanwhile, the largest platinum producer in the country, Zimplats, sustained its operational performance during the quarter under review.

“Zimplats sustained its operational performance with mill throughput and grade largely unchanged at 1,68 million tonnes and 3,48 g/t (6E) respectively.

“As a result, platinum in concentrate produced at the operation during the quarter was maintained at 70 000 ounces,” said the company.

“However, platinum in matte increased by 42,9 percent to 70 000 ounces, compared to 49 000 ounces in the prior corresponding period, which was impacted by scheduled furnace maintenance.”

Implats is a leading producer of platinum and is listed on the Johannesburg Stock Exchange and also has a level 1 American Depositary Receipt programme in the United States of America.

– Chronicle

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