Platinum miner Zimplats Holdings confirmed yesterday (2nd December) that it has closed open-pit mining at its Zimbabwe operation due to the current depressed market conditions.

The Australia-listed firm posted figures for the September quarter which showed that 270,000 tonnes of ore were mined at the open pit during the period.

In addition, the underground operation at the site yielded 370,000 tonnes at an overall mine grade of 3.21g/t, which produced 32,879 oz PGM, 295 tonnes of nickel and 203 tonnes of copper.

However, a statement released by the company has revealed that mining at the open pit was halted during November.

One section read: "Due to the continued fall in metal prices, discussions to extend the open pit mining operations by another 18 months were discontinued."

The figures for the September quarter were lower than those posted for June - when a total of 50,917 oz PGM was produced - a situation partly explained by a fire at a smelter furnace.

Source:

DJ Zimplats: Platinum Open Pit Mining Ceased November 2008 (02/12/08)
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