Unki output up 10%

Published: 20 July 2017

PRODUCTION at the country's third largest platinum producer, Unki Mine, increased 10% to 19,500 ounces in the second quarter of 2017, up from 17,800 ounces in the prior comparable period.

However, on a quarter-to-quarter basis, Unki's platinum production was marginally up by 3% from 18,900 ounces. The Shurugwi-based mine is owned by Anglo American Platinum (Amplats).

According to Amplats, Unki's increased its platinum output as efforts continued to improve mining height control, which has reduced mining waste and increased grade resulting in higher production.

Unki Mine is essentially an underground mine located in the country's Midlands province. It represents one of the largest platinum reserves in Zimbabwe, having estimated reserves of 34 million ounces of platinum.

The mine produces an average 64 000 ounces of platinum yearly. Last year, Unki total production jumped 12% to 75 000 ounces for the year ended December 31, 2016.

Meanwhile, the JSE-listed platinum group's output for Q2 increased 5% to 617,100 ounces compared to 585,800 ounces in the prior comparable period. And its refined platinum production increased by 316 100 ounces to 576 900. As a result, sales volumes of 518 800 ounces for the quarter rose 26 percent.

The company said sales volumes was down 26% to 600,500 ounces during the period compared with a year earlier which had additional sales of metal reflecting the recovery at the Precious Metals Refinery after a planned stocktake and safety stoppage in the first quarter of 2016.

Anglo American Platinum said its full-year production guidance remains unchanged at 2.35 to 2.40 million platinum ounces.
- Business Daily