Zimbabwe Platinum Mines produced 94,300 oz of platinum matte in the year to June 30th, Impala Platinum has confirmed in its report of the firm's consolidated statement of annual results.

Impala Platinum - which holds an 86 per cent stake in the company - explained that although the figure represents a 2.3 per cent decline, this can be attributed to the problematic operating environment.

The group also confirmed that Zimbabwe Platinum Mines' phase one expansion project continued during the year, with the smelter being successfully refurbished ahead of the stated 2011 completion target.

The smelter will operate at a full capacity of 180,000 oz of platinum per year, while plant capacity has been increased by 500,000 tonnes per annum already as a result of modifications.

With the opencast operation now extended until November to incorporate the increased capacity, Impala Platinum said: "The extra tonnes will be stockpiled to supply the concentrator enabling it to run at full capacity of 2mt annually from May 2009, when production from portal 4 is to begin ramping up."

Impala Platinum's appraisal comes on the back of last week's report in Mining Weekly, which confirmed that Zimbabwe Platinum Mines milled a record overall total of 2.2 million tonnes during the year.



Source:

Zimplats Contribution to Implats Up (04/09/08)
http://www.thezimbabweindependent.com/business/21098-zimplats-contribution-to-implats-up.html

Zimbabwe platinum mines record yearly increase in tonnes milled (05/09/08)
http://www.platinum.matthey.com/media_room/zimbabwe_platinum_mines_record_yearly_increase_in_tonnes_milled_18766959.html