Xstrata confirmed today (20th October) that production of its three main pgms increased by five per cent on a year-on-year basis during the third quarter of 2009.

Platinum output for the three-month period was 36,506 oz, representing a small rise from the figure of 36,250 oz recorded at the equivalent point in 2008.

In addition, palladium production was up from 16,818 oz to 18,605 oz, while output of rhodium increased from last year's third-quarter total of 4,850 oz to 5,974 oz.

"Pgm volumes were higher than the same period last year as the Mototolo Joint Venture is now producing at a steady state of 209,500 oz per annum," noted the company.

"The Eland operation has commenced the development of an underground mine, which will replace its opencast tonnage and progressively increase current pgm production levels to up to 300,000 platinum oz per annum from 2014."

Xstrata also revealed that palladium production for the first nine months of 2009 was 50,328 oz, up from 47,444 oz during the same period in 2008.

Rhodium output also improved from 12,906 oz to 15,775 oz, while platinum production was the lone figure to suffer, dropping slightly from 100,767 oz to 100,014 oz.

The diversified Swiss miner recently announced the withdrawal of its proposal for a merger with Anglo American after the Takeover Panel issued a 'put up or shut up' ultimatum.

Sources:

Interim Management Statement and Q3 Production Report (20/10/09)

Xstrata reports increased production in thermal coal, platinum, nickel, zinc and lead (20/10/09)

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