Zimplats posts slight decline in quarterly output
ASX-listed Zimplats has reported a 6% quarter-on-quarter decrease in the production of platinum, palladium, ruthenium, rhodium, iridium and gold (6E) platinum group metals (PGMs) to 143 061 oz for the three months ended September 30.
The PGMs miner also reported a 4% higher quarter-on-quarter cash cost per 6E ounce produced of $680/oz.
Zimplats did, however, note a 1% improvement in head grade to 3.45 g/t.
The company attributed its lower productivity to a ramp-up in production at the Ngwrati mine from July 1, after the company successfully rehabilitated a boxcut highwall, as well as a concentrator at the Selous metallurgical complex being shut down for a planned mill reline.
In the quarter under review, Zimplats produced 65 499 oz of platinum, 55 895 oz of palladium, 7 803 oz of gold, 5 932 oz of rhodium, 5 423 oz of ruthenium and 2 509 oz of iridium.
Additionally, the company produced 12 049 oz of silver, 1 276 t of nickel, 968 t of copper and 14 t of cobalt, which were all between 7% and 10% lower quarter-on-quarter.
Operating cash costs were 1% higher quarter-on-quarter as a result of increased Covid-19 spend and insurance costs.
Zimplats spent $400 000 on exploration in the quarter under review, with $1-million of spending committed to exploration in the coming months, including for mineral resource evaluation over existing projects.
Zimbabwe’s third wave of Covid-19, which began near the end of the prior quarter, had receded by the end of the reporting quarter, with lockdown restrictions having moved from Level 4 to Level 2.
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