Zimplats, the Zimbabwe operation of South Africa's Impala Platinum, has recorded a sharp rise in platinum production over the last three months.

4E platinum group metal (pgm) sales rose 22 per cent, the firm said in a statement outlining the miner's performance in the fourth quarter of the financial year.

In the three months to the end of June, Zimplats shifted 103,757 oz, compared with 85,069 oz in the previous quarter.

It also compares favourably with the June quarter of 2010, when 90,418 oz were sold.

Total ore mined by the firm rose seven per cent from the previous quarter to 1.138 million tonnes, up 18 per cent year-on-year.

Recovery rates of 4E pgms also improved, while metal in concentrate rose from 89,260 oz in Q3 to 103,874 oz in Q4.

Overall, Zimplats said operational and financial performance was "good", though its safety record was "unsatisfactory".

"Mining and milling operations performance was ahead of expectation and the previous quarter's performance," the miner said.

It also stated that implementation of the Ngezi Phase II expansion project is on schedule.

Source:

Zimplats Fourth-Quarter Operating Profit and Platinum Production Rises (28/07/11)

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