North American Palladium has announced its production figures for the second quarter of 2007, posting a 16 per cent increase in palladium output.

The company produced 66,651 oz of palladium over the course of the three month period, compared to 57,326 oz during the same quarter in 2006.

Over the course of the quarter, North American Palladium produced an average of 2,141 tonnes per day from its underground mine, with a palladium head grade of approximately 5.36 grams per tonne.

North American Palladium added that the increases in production compared to the previous year were mainly down to the impact of the underground mine, which has been in commercial production since the second quarter of 2006.

It said that the increases had come despite power outages that affected mining at the firm in May and June that were due to lightning strikes. The firm said it has now introduced new procedures to reduce the risk of damage from further disruptions to power supplies.

Source:

North American Palladium Reports Second Quarter 2007 Production Results, 18/07/07
http://www.marketwire.com/2.0/release.do?id=752583&sourceType=1

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