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Harare - Revenue for Impala Platinum-owned Zimplats in the quarter to December 2014 was 17% lower than the comparable year-ago period, amid subdued commodity prices on the international market.
In a quarterly update, Zimplats said revenue was impacted by an 18% drop in gross revenue received per ounce and a 7% fall in sales volumes.
The average metal prices of the resource all showed declines in the quarter, with platinum down 14% to $1 229 against $1 398 in December 2013.
Operating costs incurred by the miner were above revenue, resulting in an operating loss for the quarter of $20.517m.
According to the Financial Express, lower revenues also showed the impact of the Bimha mine closure. The mine collapsed in July 2014 and was subsequently closed in August 2014.
READ: SA-owned mine collapses in Zim
At the time of closure, it was feared Zimplats could lose up to 70 000 ounces from its production at Bimha Mine.
In a quarterly update, Zimplats said revenue was impacted by an 18% drop in gross revenue received per ounce and a 7% fall in sales volumes.
The average metal prices of the resource all showed declines in the quarter, with platinum down 14% to $1 229 against $1 398 in December 2013.
Operating costs incurred by the miner were above revenue, resulting in an operating loss for the quarter of $20.517m.
According to the Financial Express, lower revenues also showed the impact of the Bimha mine closure. The mine collapsed in July 2014 and was subsequently closed in August 2014.
READ: SA-owned mine collapses in Zim
At the time of closure, it was feared Zimplats could lose up to 70 000 ounces from its production at Bimha Mine.
