Amplats Q2 output rises 60% y/y

16th July 2015 By: Natasha Odendaal - Creamer Media Senior Deputy Editor

JOHANNESBURG (miningweekly.com) – JSE-listed Anglo American Platinum’s (Amplats’) output for the second quarter of the current financial year bounced back from the strike-hit performance in the comparative period last year.

In the three months to June 30, the group’s attributable equivalent refined platinum production increased by 60% year-on-year to 572 000 oz.

Output also compared favourably with 536 000 oz produced in the first quarter of this year.

The protected industrial action during the second quarter of 2014 had cost the company 229 000 oz in output, with an additional 16 000 oz lost during the post-strike ramp-up.

During the June quarter, Amplats own mines and tailings retreatment operations doubled production to 372 000 oz, compared with the 157 000 oz produced in the second quarter of 2014, while joint ventures and third-party purchases remained steady.

Amplats posted “excellent” mining performance from its Mogalakwena mine, in Mokopane, with production rising 5% year-on-year to 101 000 oz, on the back of continued strong mining performance, higher achieved head grade and improved recoveries at the concentrator.

This marked the second consecutive quarter that the mine had achieved production in excess of 100 000 oz.

The group’s Amandelbult mines, in Rustenburg, also delivered a marked improvement during the period under review, with equivalent refined platinum production increasing to 102 000 oz, compared with 14 000 oz in the comparative period last year.

The operation also realised a 26% rise in production over the first quarter’s 81 000 oz, despite Section 54 stoppages at the mines and concentrator.

The Union mine, also in Rustenburg, produced 30 000 oz in the period under review, a rise on the 4 000 oz produced in the prior comparative period, but a decline on the 32 000 oz achieved in the preceding March quarter.

Rustenburg mines, including Western Limb Tailings Retreatment plant, increased equivalent refined platinum production from 26 000 oz in the second quarter of 2014 and 118 000 oz in the first quarter of this year to 119 000 oz for the quarter under review.

The group’s Zimbabwe-based Unki mine produced 16 000 oz of equivalent refined platinum, a 4% rise on the comparative period and in line with the first quarter.

However, only 1 300 oz in concentrate was dispatched to Amplats’ Polokwane smelter, after the suspension of export of concentrate in April as negotiations over export taxes were undertaken with Zimbabwe’s government.

The export of concentrate resumed on July 3 after an agreement was reached to postpone the taxes.

Independently managed production – mined and purchased – decreased by 3% to 183 000 oz in the June quarter owing to Section 54 safety stoppages and lower grades hitting production at Bafokeng Rasimone platinum mine and Mototolo.