Zimbabwe Platinum Mines (Zimplats) has seen its revenues rise on the back of escalating pgm prices.

The platinum miner said it has sold 20,106 ounces of platinum, 16,286 ounces of palladium, 1,819 ounces of rhodium and 2,286 ounces of gold in its fourth quarter.

Revenues hit $28.33 million, as a rise of nearly ten per cent bettered the previous quarter's $25.78 million figure, according to Dow Jones.

The miner, which is the world's second largest platinum outfit, also revealed that its Marula platinum mine is exceeding expectations after a number of changes to operations.

In an online briefing, Implats chief executive Keith Rumble explained: "Our decision to embark on owner-mining rather than using contractors is, I believe, one that will stand us in good stead.

"Peter Sandilands, an experienced manager from our Impala operation, has been installed as the general manager at Marula and we have already contracted our own employees - less than half the number employed by the former contractor."

However, Mr Rumble once again underlined the problems of the strong rand which have plagued the industry in recent months.

He said the currency changes had had a significant impact on Implats' earnings, but added that the firm was seeking ways of making itself more resilient to the issue.

Net operating costs increased significantly to $24.28 million from $19.57 million in the latest quarterly figures, resulting in a loss of 50 per cent in net profits.