https://www.miningweekly.com

Metal prices boost Zimplats’ Dec quarter revenue

31st January 2019

By: Creamer Media Reporter

     

Font size: - +

Platinum group metals miner Zimplats on Thursday reported a 5% quarter-on-quarter decrease in platinum, palladium, rhodium and gold (4E) production to 133 086 oz for the quarter ended December 31.

The decrease was the result of a 5% decrease in the volume of concentrates smelted, as a result of a routine seven-day furnace taphole inspection shutdown.

ASX-listed Zimplats’ 4E metal sales also decreased by 7% quarter-on-quarter to 130 432 oz.

Revenue, however, increased by 10% quarter-on-quarter to $152.93-million, as a result of an increase in metal prices.

Further, net operating costs decreased by 14% quarter-on-quarter.

Meanwhile, the company reported that it was making progress with the redevelopment of its Bimha mine, with installation of the north underground crusher and the ore conveyancing system completed during the December quarter.

The south underground crusher and ore conveyancing system will be commissioned in August.

Further, Zimplats said it was ahead of schedule with the development of its Mupani mine, which is expected to reach full output in August 2025.

South Africa’s Impala Platinum holds an 87% shareholding in Zimplats.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION