Xstrata recorded a two per cent rise in consolidated saleable pgm production in the first quarter of 2010, it was confirmed on Wednesday (5th May).

The diversified Swiss miner saw output reach 54,901 oz, compared to the figure of 53,797 oz recorded during the equivalent three-month period last year.

Platinum production fell slightly from 32,985 oz to 32,905 oz, while palladium output was up from 15,931 oz to 16,601 oz and rhodium output jumped from 4,881 oz to 5,395 oz.

The company attributed the rise to improved feed grade at Eland and noted that it has high hopes for the South Africa-based project in the next four years.

A statement read: "The development of the western decline shaft at Eland is progressing according to plan, with the eastern decline set to commence shortly.

"The underground mine development will enable Eland to progressively increase current platinum production levels to up to 300,000 platinum oz per annum by 2014."

Xstrata has operations in 18 countries and also produces copper, coking coal, thermal coal, nickel, ferrochrome, vanadium and zinc.

Source:

Interim Management Statement and Q1 Production Report (05/05/10)

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