Production at Zimplats, an offshoot of South African mining company Impala Platinum, was up by 75 per cent in the second half of 2009, it has been revealed.

Mining Weekly reports that the company's platinum, palladium, rhodium and gold output increased to 163,490 oz in the six months to December 31st.

The news comes ahead of the full release of the results in Johannesburg on Thursday (February 18th).

According to the publication, a statement given to the ASX said improved production figures and higher metal prices had helped Zimplats record a $28 million half-year after-tax profit.

This compares favourably with the $26 million loss recorded in the comparative period.

"Metal prices improved during the period spurred by moderate levels of economic recovery recorded in most developed economies, as well as renewed appetite for platinum group metals investment products," the release said.

However, operating costs also increased and Zimplats was additionally hit by a tax bill for the period which came to $31 million.

Zimplats recently announced the resignation of Gregory Sebborn as a non-executive director of the board.

Mr Sebborn had previously served as Zimplats chief executive officer from January 2005 to August 2007.

Source:

Zimplats posts $28m profit, output jumps 75% (17/02/10)

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