South Africa-focused Eastern Platinum has reported a drop in production for the three months to the end of June.

Ian Rozier, president and chief executive officer at the Canadian platinum group metals (pgm) miner, said ounces sold in Q2 were down 33 per cent on the previous year, from 30,820 oz to 20,528 oz.

US dollar operating cash costs increased 72 per cent to $1,515/oz in Q2 2011, compared to $882/oz in Q2 2010.

Head grade decreased to 3.9 g/t in Q2 from 4.1 g/t in the same period last year.

Average concentrator recovery decreased from 80 per cent in Q2 2010 to 76 per cent this year.

Mr Rozier said run-of-mine ore hoisted fell 32 per cent from 297,186 ts in Q2 2010 to 203,166 tonnes in the last quarter.

Run-of-mine ore processed also decreased, falling 30 per cent to 201,986 ts in Q2 2011, from 290,028 ts in Q2 2010.

Eastplats has four primary assets: the Crocodile River Mine on the western limb of the Bushveld Complex, as well as the Kennedy Vale, Spitzkop and Mareesburg projects on the eastern limb.

Source:

Eastplats goes into the red as sales fall (15/08/11)
 

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