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Harare - Lower sales volumes and a drop in metal prices saw Impala Platinum Holdings [JSE:IMP] subsidiary Zimplats report revenues that were 13% lower for the quarter to December 2013.
According to a quarterly statement released by the company, revenue for the period amounted to US$125.9m, down from $145.5m from the previous quarter. This is however 52% up from the same period in the prior year.
An operating profit of $20.6m was realised, 48% lower than the $39.8m reported in the previous quarter to September 2013. The operating profit is 17% higher than the prior comparative year.
Tonnes mined increased by 7% from the prior quarter, mainly due to the introduction of an additional production fleet at Mupfuti Mine and production improvements at Bimha Mine.
Milling and metal in concentrate production were impacted by the shutdown of the Ngezi concentrator ball mill for relining, and slipped by 2% from the previous quarter.
The average platinum price for the quarter was $1 398 - down from $1 456 prior quarter and $1 597 prior year comparative.
Cash cost per 4E ounce was 1% higher than the previous quarter, reflecting the impact of lower production volumes (metal
in converter matte).
The company’s local spend (excluding payments to government and related institutions) rose by 43% to $60m.
Total payments to government in direct and indirect taxes dropped by 9% from $32m to $29m compared to the previous quarter.
- Fin24
According to a quarterly statement released by the company, revenue for the period amounted to US$125.9m, down from $145.5m from the previous quarter. This is however 52% up from the same period in the prior year.
An operating profit of $20.6m was realised, 48% lower than the $39.8m reported in the previous quarter to September 2013. The operating profit is 17% higher than the prior comparative year.
Tonnes mined increased by 7% from the prior quarter, mainly due to the introduction of an additional production fleet at Mupfuti Mine and production improvements at Bimha Mine.
Milling and metal in concentrate production were impacted by the shutdown of the Ngezi concentrator ball mill for relining, and slipped by 2% from the previous quarter.
The average platinum price for the quarter was $1 398 - down from $1 456 prior quarter and $1 597 prior year comparative.
Cash cost per 4E ounce was 1% higher than the previous quarter, reflecting the impact of lower production volumes (metal
in converter matte).
The company’s local spend (excluding payments to government and related institutions) rose by 43% to $60m.
Total payments to government in direct and indirect taxes dropped by 9% from $32m to $29m compared to the previous quarter.
- Fin24
