Mimosa HY output doubles to 60, 000oz

Mimosa HY output doubles to 60, 000oz

HARARE, August 30 (The Source)- Platinum production at Mimosa in the six months to June reached 60 879 ounces compared to 29 491 ounces during the same period in 2016 largely on improved mining efficiencies.

In a trading update on Wednesday Mimosa’s parent company Sibanye-Stillwater of South Africa said costs at the mine in Zvishavane and other two operations Kroondal and Platinum Mile were maintained within guidance.

All-in sustaining costs at Mimosa was $655 per 4E ounce while the average PGM basket price for the period was at $910 compared to $822 in 2016.

Tonnes milled at Mimosa at 681 000 tonnes more than doubled from 327 000 tonnes last year but yields declined to 2.78 g/t from 2.81 g/t.

Plant recoveries during the period were marginally down at 77.60 percent compared to 78.54 percent in the same period in 2016.

A total $7.9 million was spent as capital expenditure at the mine during the period which was an increase from $3.9 million in the same period last year.

At Group level, chief executive officer Neal Froneman said despite the average 4E PGM basket price for the period remaining subdued the SA PGM operations recorded a R506 million ($38 million) operating profit, with Mimosa contributing an additional attributable R195 million ($15 million).