Published: 28 January 2014

Mimosa production was stable and costs reduced further, in line with management's expectations. Unfortunately Mimosa does not benefit from a weakening currency and hence the lower Dollar metal prices impacted its margin directly.

Mimosa Platinum Mine's 12-month rolling average Disabling injury incidence rate, being the number of lost-time injuries expressed as a rate per 200,000 man-hours worked, deteriorated to 0.05 per 200,000 man hours worked. Production increased by 1% to 629,101 tonnes. Head grade improved to 3.65 g/t. Recoveries improved slightly to 78%.

Volumes processed increased by 2% to 632,872 tonnes. Stockpile at the end of the quarter was approximately 135,573 tonnes. PGM production increased  by 5% to 55,586 PGM ounces. Revenue whilst flat on a PGM ounce basis, increased in line with increased ounces sold.

Mining cash costs decreased by 1% to $75 per tonne, costs per PGM ounce decreased by 4% to $837 on higher production. Stay-in-business capital expenditure was $176 per PGM ounce for the quarter. Mimosa's cash margin for the period remained the same at 18% as in previous quarter. 
- businessdaily

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