Impala Platinum is confident about the future of its pgm operations in Zimbabwe, according to a new report by Mining Weekly today (4th September).

The world's second-largest platinum producer revealed recently that its gross production of the precious metal fell 11 per cent to 1.7 million ounces in the year to 30th June.

Operational issues at the Impala Platinum mine in Rustenburg contributed to the decline, while cancelling the Kroondal contract and a shutdown at Everest also took their toll.

Decreasing grades and efficiencies at the company's Rustenburg facility - where workers are currently striking - are a particular problem because they are delaying production.

Impala CEO David Brown admitted to the news provider that the situation will take approximately two years to resolve but he is far more positive on its Zimbabwe projects.

Refined platinum production at Zimplats increased to 97,000 oz, while tonnes milled rose by seven per cent to a record 2.3 million tonnes ahead of the phase one expansion.

The portal-one section of the expansion hit full annual production of 1.2 million tonnes and the portal-four portion is scheduled to reach full production of two million tonnes per year by 2011.

With the two-million-tonne concentrator also now commissioned, Mr Brown explained that Zimplats "delivered another outstanding operational performance".

In addition, refined platinum production increased by eight per cent to 79,000 oz at Impala's Mimosa facility, where tonnes milled were up 21 per cent to 2.1 million tonnes.

Following the completion of the phase five expansion at Mimosa - on which R555 million was spent during the year - the company expects it to produce 100,000 oz per year.

Source:

Impala Platinum's worst 'probably not over', but Zimbabwe shines (04/09/09)

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