Unki projects higher output

Published: 29 January 2019
ANGLO American's local platinum producer, Unki Platinum Mine projects that this year's output will increase to at least 4,2 million ounces from 1,3 million oz last year.

In a quarterly production report for the year ended December 31, 2018, Anglo American said Platinum Group Metals (PGM) outlook for 2019 ranges between 4,2 million and 4,5 million oz.

"PGM production outlook (excluding tolling material from Sibanye-Stillwater) for 2019 is between 4,2 and 4,5 million oz, including platinum production of between 2,0-2.1 million oz and palladium production guidance of between 1,3 and 1,4 million oz," reads part of the report.

It said production guidance in 2018 was down due to the transition of Sibane-Stillwater material to a tolling arrangement in place of its concentrate bought.

Anglo American said the total PGM for 2018 saw a three percent increase to 1,26 million oz from 1,22 million oz reported in the same period in 2017. The company said production increased because of operational performances across the majority of the portfolio.

"Platinum production increased by three percent to 602 300oz (Q4 2017: 587 000oz) and palladium production increased by three percent to 386 600 oz (Q4 2017: 374 900oz)."

Palladium production was up 38 percent to 19 600oz compared to 14 200oz recorded the same period last year.

The company's $62 million platinum processing plant was now complete and is envisaged to be commissioned this year. Construction of the plant began in 2016 after the Government threatened to shut down mines exporting unprocessed platinum.

The Government introduced a 15 percent tax on the exportation of unbeneficiated platinum, with a view to compel mining companies to expeditiously transition towards beneficiation of the mineral.

In view of the progress and commitments made by PGM metals producers towards beneficiation, the Government through the 2019 budget postponed the export tax to January 1, 2022.

Previously, all the three platinum miners which operate in Zimbabwe, Unki and the Impala Platinum-owned Zimplats and Mimosa mines would send their matte for refining in South Africa.

According to the Reserve Bank of Zimbabwe, the country exported platinum valued $566, 9 million during the first half of 2018.
- online
Tags: Unki,


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