Friday, 28th January 2005 (3269 views)

Zimbabwe Platinum Mines (Zimplats) has revealed positive metal sales and increased revenues today.

The platinum miner said it has sold 2,286 ounces of gold in its fourth quarter.

Revenues hit $28.33 million, as a rise of nearly ten per cent bettered the previous quarter's $25.78 million figure, according to Dow Jones.

However, Mr Rumble once again underlined the problems of the strong rand which have plagued the industry in recent months.

He said the currency changes had had a significant impact on Implats' earnings, but added that the firm was seeking ways of making itself more resilient to the issue.

Net operating costs increased significantly to $24.28 million from $19.57 million in the latest quarterly figures, resulting in a loss of 50 per cent in net profits.

 

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