Anooraq Resources saw its pgm production rise by 12 per cent on a quarter-on-quarter basis during the three months to the end of June 2010.

The company announced that its Bokoni Platinum Mines facility in South Africa yielded 29,926 oz pgm 4E (platinum, palladium, rhodium and gold).

A breakdown of the total reveals that platinum production increased by 13 per cent to 16,091 oz, while palladium output rose by 12 per cent to 11,044 oz.

Rhodium output was up nine per cent to 1,769 oz and gold production jumped by 11 per cent to 1,022 oz, with tonnes milled surging by 24 per cent to 283,637 tonnes.

Anooraq explained that the higher production volumes can be largely attributed to efficiency improvements and a recent labour restructure.

However, a disappointing performance at the Bokoni concentrator plant during its upgrade commissioning saw built-up head grade slump by six per cent to 3.8g/t, with delivered grade unchanged at 4.1g/t.

"We now have a full year of management control at the Bokoni operations under our belt and I believe we have used the experience to full effect by implementing the key changes required to begin bringing the best out of this world-class pgm asset base," said President and Chief Executive Philip Kotze.

"The focus on productivity improvement within our mining operations in the coming months is a key objective to ensure stability and volume growth going forward, and I am confident that we will achieve this goal in the second half of 2010."

Anooraq Resources currently controls the third-largest pgm resource base in South Africa, according to its official website.

Source:



Anooraq Announces Results for the Period Ended June 30, 2010 (05/08/10)

© Adfero Ltd