JOHANNESBURG (miningweekly.com) – At end-January, JSE-listed Bauba Platinum had exceeded its production target of 12 000 t of run-of-mine (RoM) ore at its Moeijelijk mine, after having resumed mining activities earlier that month.
The mine was placed on care and maintenance in January 2016 as a result of low prices, but mining resumed in January after a recovery in prices.
Bauba sold and delivered 10 044 t of RoM free-on-truck at the mine in January.
Further, the company has received a composite sales consideration of R40.3-million for the sale of the January RoM, which took place in terms of an offtake agreement entered into by Bauba with a Singapore-based trading company.
“The achievement of our January 2017 production target reflects that the newly appointed day-to-day management team of Bauba has successfully been bedded down and we are confident that the continued build-up to a monthly production of 20 000 t RoM may be achieved by the end of March,” said Bauba CEO Nick van der Hoven.