Zimplats increases mined tonnages
Precious metals miner Zimplats increased its mined tonnages by 2% quarter-on-quarter for the three months ended September 30, 2020.
Mined tonnages were also 4% higher year-on-year owing to improved fleet productivity and additional tonnage from the Mupani mine, which is still under development.
Platinum, palladium, rhodium, ruthenium, iridium and gold (6E) production of 142 024 oz, however, decreased by 12% over the same period. The company said 6E production “benefitted from the treatment of inventory associated with the smelter rebuild”.
Cash costs per 6E ounce produced increased by 12% quarter-on-quarter, to $634/oz.
Total operating cash costs increased by 3% from the previous quarter, as a result of higher volumes mined and an increase in minerals marketing in line with increased revenue.
A total of $5.6-million was, meanwhile, transferred from operating costs to closing stocks during the quarter, compared with $1.2-million in the previous quarter, owing to the increase in run-of-mine (RoM) ore and concentrate stocks.
The accumulation of RoM ore stocks will continue in preparation for the commissioning of increased concentrator capacity, which is planned for the second half of 2022.
Zimplats also spent $1.2-million on exploration projects during the quarter.
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