Royal Bafokeng Platinum (RBPlat) has raised its profits thanks increasing production and higher metal prices.
The Johannesburg-based mining company said the amount of tonnes milled rose 12 per cent to 2.41 Mt, as output of PGM ounces in concentrate increased seven per cent to 288,100 oz.
At the same time, head grade dropped by five per cent to 4.31g/t, the company said in its results for the year ending December 31st 2010.
Although RBPlats believes 2011 will be a year of consolidation, it will be focusing growth efforts on the Styldrift expansion project.
Mining Weekly reports that this is progressing well, with the bulk earthworks and bulk site infrastructure constructions completed.
The sinking of the main and service shafts is underway, with permanent power supply planned for 2014.
Bloomberg reports that this project, which aims to boost production to 611,000 oz of PGM a year by the end of 2017, will be largely funded by an agreement between the company and Impala Platinum Holdings.
The world's second largest producer of platinum will have access to part of RBPlats' reserves in return for a 17.5 per cent royalty.
"It will give Impala the Merensky ounces they need" and deliver "some nice cash flow" to RBPlats, its chief financial officer Martin Prinsloo is reported as saying.
He explained to the news provider that Impala will gain access to the ore via its own Number 20 shaft at the northern end of RBPlats' Boschkoppie reserves, adding that further deals of this sort could be done in the future.
Announcing the results for last year, Business Today reports that RBPlat stated: "The increase was due to higher revenues while the majority of costs remain fixed. This ensured that the major portion of the revenue benefit filtered straight down to the profit line.
"The increase in revenue resulted from metal prices and higher production volumes, partially reduced by a stronger rand/dollar exchange rate."
Sources:
Royal Bafokeng Platinum swings back to profit (08/03/11)
Impala Agrees to Mine North Part of Royal Bafokeng's Boschkoppie Operation (08/03/11)
RBPlat wades in lifting production, containing costs (08/03/11)
© Adfero Ltd
The Johannesburg-based mining company said the amount of tonnes milled rose 12 per cent to 2.41 Mt, as output of PGM ounces in concentrate increased seven per cent to 288,100 oz.
At the same time, head grade dropped by five per cent to 4.31g/t, the company said in its results for the year ending December 31st 2010.
Although RBPlats believes 2011 will be a year of consolidation, it will be focusing growth efforts on the Styldrift expansion project.
Mining Weekly reports that this is progressing well, with the bulk earthworks and bulk site infrastructure constructions completed.
The sinking of the main and service shafts is underway, with permanent power supply planned for 2014.
Bloomberg reports that this project, which aims to boost production to 611,000 oz of PGM a year by the end of 2017, will be largely funded by an agreement between the company and Impala Platinum Holdings.
The world's second largest producer of platinum will have access to part of RBPlats' reserves in return for a 17.5 per cent royalty.
"It will give Impala the Merensky ounces they need" and deliver "some nice cash flow" to RBPlats, its chief financial officer Martin Prinsloo is reported as saying.
He explained to the news provider that Impala will gain access to the ore via its own Number 20 shaft at the northern end of RBPlats' Boschkoppie reserves, adding that further deals of this sort could be done in the future.
Announcing the results for last year, Business Today reports that RBPlat stated: "The increase was due to higher revenues while the majority of costs remain fixed. This ensured that the major portion of the revenue benefit filtered straight down to the profit line.
"The increase in revenue resulted from metal prices and higher production volumes, partially reduced by a stronger rand/dollar exchange rate."
Sources:
Royal Bafokeng Platinum swings back to profit (08/03/11)
Impala Agrees to Mine North Part of Royal Bafokeng's Boschkoppie Operation (08/03/11)
RBPlat wades in lifting production, containing costs (08/03/11)
© Adfero Ltd
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