[miningmx.com] — IMPALA Platinum (Implats), the world’s second largest producer, on Wednesday reported a 7% rise in first-quarter platinum output, boosted by better performance at its Impala and Zimplats mines.
Implats said gross platinum production during the quarter to the end of September rose 7% to 441,000 ounces.
Palladium output rose to 285,000oz from 266,000, while production of rhodium dropped 10% to 57,000oz
Implats said production at its Impala Rustenburg unit rose by 39% to 251,000oz. In the comparable quarter last year some 70,000oz were lost due to a strike and a major accident at its Shaft 14. The unit is on track to produce 940,000oz of platinum for the full year.
Implats said its Zimbabwe unit, Zimplats, increased platinum in matte output by 22% to 44,000oz, in line with its phase one expansion plans.
Further expansion should be completed in the second quarter of the 2011 financial year, raising annual production to 270,000oz of platinum by 2013.
South Africa’s 2011 platinum supply may rise a touch next year after falling slightly in 2010 on safety-related stoppages and wage strikes in the world’s top source of the precious metal, a leading refiner said on Tuesday.
This year, South Africa’s platinum output is expected to fall by 1% from last year to 4.59 million ounces, Johnson Matthey said in its latest platinum review.
Shares Implats were down 0.76% at R210.98 by 16:51, compared with a 0.36 percent fall in Johannesburg’s Top-40 blue-chip index.
