Mimosa Q3 output remains flat

LOW-COST local platinum producer Mimosa Mine’s production for the third quarter to March 31, 2017 remained flat at 30 000 ounces. This was on the back of a marginal decline in ore milled during the period under review.

“Tonnes milled at Mimosa during the quarter ended 31 March 2017 was largely unchanged at 670 000 tonnes (676 000 tonnes in the prior corresponding period).

“Consequently, platinum in concentrate production for the quarter was maintained at 30 000 ounces platinum,” said parent company Impala Platinum in its latest trading update.

However, for the nine-month period to the close of the third quarter, Mimosa experienced an upturn in both ore milled and refined platinum.

Tonnes milled during the nine-month period rose 2,5 percent to 2,04 million tonnes, compared to 1,99 million tonnes in the prior corresponding period.

“The increased throughput yielded 1,1 percent higher platinum in concentrate production of 91 000 platinum ounces, compared to 90 000 platinum ounces reported in the prior corresponding period,” said Implats.

Mimosa is 50 percent-owned by Implats (which also operates another platinum producer in the country, Zimbabwe Platinum Holdings). The balance of the stake is in the hands of another South Africa-based mining group, Sibanye Resources.

Sibanye took over the Mimosa stake in April last year 2016 with its acquisition of Aquarius Platinum Limited.

Mimosa — a somewhat shallow mine — is located along the Great Dyke in Zimbabwe.

The platinum producer has an off-take agreement with Centametall AG of Switzerland, in terms of which it delivers its concentrate to the Implats smelter for toll processing and refining by Impala Refining Services before delivery of the metal. — BH24