High platinum prices have helped Zimplats Platinum Mines to achieve a 57 per cent increase in revenue during the fourth quarter to $60.67 million.

Meanwhile Zimplats Holdings mined 630,000 tonnes of ore during the fourth quarter, down from the 655,000 tonnes mined in the September quarter after operations were affected by power outages.

Total operating costs were 54 per cent higher measuring $34.26 million mainly due to the volume of metal being produced and costs were negatively affected by high fuel prices.

Safety also suffered during the quarter with one fatality and seven lost time injuries recorded bringing the total number of lost time incidents to nine last year.

"Management is working on ensuring that the company re-establishes a high level of safety consciousness in all its operations," the firm said.

Despite the challenging operating conditions in Zimbabwe, the Ngezi Phase one Expansion project remains on schedule, the statement confirmed.

Source:

Zimplats production falls, 31/01/08 2:09
http://www.thetimes.co.za/Business/Article.aspx?id=696015

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