Zimplats’ production increases marginally in Q1 2020

0
525
  • Ore mined increased by 2%
  • 6E metal production in final product increased by 6%
  • Operating cash costs per 6E ounce decreased by 7% from the previous quarter
  • The Group’s operations during the period under review were not impacted by COVID-19 disruptions

Harare – Platinum Group Metals (PGM) producer, Zimplats Holdings Limited has reported a marginal increase in ore mined for the quarter ended 30 June 2020 to 1,829 tonnes which is a 2% increase from 1,798 tonnes mined in the previous quarter attributed to the increase in the number of operating days.

Tonnes milled however, reduced by 1% from the previous quarter due to lower running time at the concentrators.

“Running time for the quarter under review was affected by the planned mill reline shutdown at the Selous Metallurgical Complex (SMC) concentrator plant,” the Group said in its Q1 report.

Located on the Hartley Geological Complex on the Great Dyke south-west of Harare, Zimplats mines six elements (6E) minerals which include Platinum, Polladium, Gold, Rhodium, Ruthenium and Iridium and other metals which include Nickel, Silver, Copper and Cobalt.

6E metal production in final product increased by 6% during the period under review to 161 190 ounces from 151 620 ounces achieved in the previous quarter, benefiting from the treatment of reverts stockpiled when the furnace was drained in June 2019 for the 122-day major rebuild shutdown.

Meanwhile, total operating cash costs increased by 2% to US$92.7k from US$90.4k from the previous quarter owing to increased production and sales with the Group reporting that “additional costs were incurred to minimize the spread of COVID-19 among employees and the community in which the Group operates.”

Operating cash costs per 6E ounce decreased by 7% from the previous quarter, mainly due to the 6% increase in 6E metal production and improved efficiencies.

The Group’s operations during the period under review were not impacted by COVID-19 disruptions as it continues to operate as part of the essential services in Zimbabwe, subject to strict adherence to World Health Organisation (“WHO”) safety and hygiene standards.

By the end of the quarter, the Group had not recorded any confirmed COVID-19 cases at its operations.

Equity Axis News

LEAVE A REPLY

Please enter your comment!
Please enter your name here