Zimplats production increases by 4 percent
The country’s biggest platinum group metal producer Zimplats’ production increased by 4 per cent during the quarter ended 31 December 2023 compared to the same quarter the previous year due to pillar reclamation operations at Rukodzi Mine and the continued ramp-up in production from Mupani Mine.
Rudairo Mapuranga
Ore mined according to Zimplats increased to 1 995 000 tonnes during the quarter ended 31 December 2023 from 1 968 000 in the quarter ended September 30 and 1 915 000 during the year ended 31 December 2022.
The group’s production also increased by 1 per cent compared to the previous quarter ended 30 September 2023 with Increased tonnes from pillar reclamation bolstering 6E head grade, which increased by 1 per cent from the prior quarter and was stable year-on-year.
According to Zimplats, Ore milled was in line with mined volumes in the period and was stable quarter-on-quarter and year-on-year, with the concentrator plants performing at expected throughput rates.
However, 6E metal in the final product declined by 1 per cent from the prior quarter, as a scheduled furnace shutdown resulted in an accumulation of in-process inventory in the period. Metal volumes benefited from improved metal recoveries and increased by 1 per cent year-on-year.
Ore mined according to Zimplats increased to 1 995 000 tonnes during the quarter that ended 31 December 2023 from 1 968 000 in the quarter ended September 30 and 1 915 000 during the year ended 31 December 2022.
Meanwhile in response cost containment initiatives, in response to softening metal prices, were implemented in the period, and resulted in a 1 per cent retracement in total operating cash costs from the prior quarter, with a year-on-year increase of 3 per cent.
Transfers to closing stocks from operating costs amounted to US$0.4 million during the period, in line with inventory movement in the value chain. Cash costs of metal produced declined by 1 per cent from the prior quarter and were stable year-on-year. Operating cash costs of US$825 per 6E ounce retraced by 1 per cent from the prior quarter and were 2 per cent lower year-on-year, benefitting from higher production volumes, which offset inflationary pressures on utilities.