HARARE — Platinum production at Zimbabwe’s second largest platinum producer Mimosa Mine’s platinum group metals output dropped 7% to 51,907 ounces quarter-on-quarter, after a plant shutdown in February, its parent company said on Tuesday.
Ore production fell 5% to 598 094 tonnes from 568 608 tonnes in the third quarter to March 31 after below budget metal recoveries and power outages.
Stockpiles at the end of the quarter totalled approximately 165 060 tonnes. Revenue slightly increased by one percent to $63 million from $62 million in the previous quarter due to high metal prices, which improved by 2% in the quarter said Aquarius, which co-owns Mimosa with Implats.
Mining cash costs increased by 9% to $81 per tonne, and costs per PGM ounce also rose by 7% to $892 due to decrease in production.
Capital expenditure stood at to $6,5 million.
“Expenditure was incurred mainly on mobile equipment, drill rigs and LHDs, the conveyor belt extension and down dip development,” Aquarius said in a third quarter update.