Zimplats notes quarterly improvement in output

30th July 2021 By: Marleny Arnoldi - Creamer Media Online Writer

ASX-listed Zimplats’ production of platinum, palladium, rhodium, ruthenium, iridium and gold (6E) platinum group metals (PGMs) for the quarter ended June 30, increased by 12% quarter-on-quarter, but decreased by 5% year-on-year,.

Specifically, the company produced 70 688 oz of platinum, 59 544 oz of palladium and 8 533 oz of gold in the reporting quarter, against 63 326 oz of platinum, 53 425 oz of palladium and 7 584 oz of gold in the first quarter of this year.

That compares with 73 785 oz of platinum, 63 563 oz of palladium and 8 576 oz of gold produced in the quarter ended June 30, 2020.

As for rhodium, the company’s output improved by 15% quarter-on-quarter to 6 358 oz, while ruthenium and iridium output increased by 15% and 17%, respectively, to 5 803 oz and 2 717 oz.

Total 6E PGMs production was 153 643 oz in the quarter under review, against total PGMs output of 137 093 oz in the preceding quarter and 161 190 oz in the comparable quarter last year.

Moreover, Zimplats reported a 12% quarter-on-quarter improvement in silver production to 13 285 oz, a 14% quarter-on-quarter rise in nickel production to 1 391 t and 14% quarter-on-quarter growth in copper production to 1 080 t.

Cobalt production came in lower at 15 t, compared with 21 t in the preceding quarter.

The company attributes its higher PGMs production in the quarter to a combination of higher throughput and increased process recoveries, while PGM volumes last year benefitted from the treatment of furnace reverts stockpiled during the furnace rebuild and higher 6E head grade and recoveries.

The 6E head grade in the quarter under review came in at 3.4 g/t, while the recovery rate averaged 77.9%.

Zimplats, in the quarter under review, spent $1.3-million on exploration projects, including more than 10 000 m of surface diamond drilling over existing projects – Zimplats operates four projects in the country.