JOHANNESBURG - Zimbabwes biggest platinum producing company Zimplats, recorded a good operational and financial performance in its March 2011 quarterly report, released recently.
The company, a subsidiary of multi-national company Impala Platinum, reported a higher iron ore production, adding that metal prices continued to trend upwards in line with moderate levels of economic recovery recorded in the major world economies.
Bimha Mine also remains on course to reach targeted design production capacity while the implementation of Ngezi Phase II Project is progressing well.
Ore mined was four per cent higher than the previous quarter reflecting on-going ramp up of production at Bimha Mine, said Zimplats in a statement.
Metal prices continued to trend upwards in line with moderate levels of economic recovery recorded in the major world economies. Bimha Mine remains on course to reach design production capacity of 2mtpa in May 2011, while implementation of Ngezi Phase II Project is proceeding as planned with work having commenced on several of the constituent parts of the project.
However, milled tonnage was lower than the previous quarter, as both concentrators undertook five day maintenance shut downs.
Metal production and sales volumes were lower than the previous quarter reflecting the lower milled tonnage as well as lower smelter running time as a result of a seven day maintenance shut down. Concentrates stockpiled during the smelter shutdown were processed subsequent to quarter end, it said.
Post published in: Economy