Platmin has forecast total metal output of between 60,000 and 65,000 4E ounces at its Pilanesberg mine for the financial year 2010.

In its third quarter results for the South Africa-based mine, Platmin downgraded expectations of production being closer to 80,000 ounces.

However, output was still higher in the third quarter than it was in the first two quarters of the year.

Production hit 17,041 4E ounces over the July to September period, compared to 14,392 4E ounces and 10,867 4E ounces in Q1 and Q2 respectively.

This took the total number of ounces produced to 42,300 for the first nine months of the year.

Meanwhile, the amount dispatched and sold for the year to the end of September was 39,051 4E ounces.

This figure would have been higher but for a six week strike at the Northam Platinum Mine, which affected dispatches.

Although commercial production has yet to be declared at the mine, Platmin CEO Tom Dale believes progress is being made.

"The principal production challenge remaining is to strip adequate volumes of waste in the right areas and sequence in order to expose healthy volumes of the silicate reefs and the high grade UG2 reef which lies at the bottom of the reef succession," he commented.

"Progress in this regard is evident from the results for the September quarter and the month of October, when 7,004 ounces were produced."

Platmin is also looking to modify the current Environmental Management Plan so the pit can be used as a damn after mining operations are completed rather than being backfilled.

In addition to being the cheaper option, Platmin says the proposal has the support of the local community.

Platmin also has interests in two projects adjacent to Pilanesberg as well as the Mphahlele project of the Bushveld Complex.

Sources:



Continuous improvements to metal output at Platmin (15/11/10)



Production build-up continues at Platmin’s Pilanesberg Platinum Mine (12/08/10)

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