Sunday, 14th August 2022

Royal Bafokeng Platinum (RBPlat) has reported a 7.7% increase in platinum, palladium, rhodium, iridium, ruthenium and gold metals-in-concentrate production to 124 000 oz for the first quarter of 2022.

It said total tonnes milled for the period under review rose by 8.7% to 1.1-million tonnes.

The production of platinum, palladium, rhodium and gold (4E) metals-in-concentrate jumped 7.5% to 110 600 oz, while the overall concentrator recovery dropped by 0.2% to 80.93%, in line with the reduction in built-up head grade and variations in ore mix.

It said the built-up head grade fell by 1% year-on-year to 3.79 g/t gold, due to increased dilution currently being experienced, mostly in the Merensky reef mining sections of the Styldrift mine.

Meanwhile, RBPlat said its total cash operating costs increased by 21.7% to R2 billion for the reporting period compared to 2021.

The increase in expenditure was due to increased production and industry-related inflation.

Overall unit cash cost per tonne milled and 4E ounce increased by 12% and 13.2% to R1 807 and R18 282, respectively.

Total capital expenditure for the quarter increased by 4.2% to R335.1 million compared to the comparative 2021 period.

Expansion capital expenditure was reduced by 43.4% to R66 million in line with project progress at the Maseve concentrator MF2 upgrade, the BRPM tailings storage facility expansion and Styldrift.

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