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Wednesday, 27th April 2005 (4483 views)

Zimbabwe Platinum Mines has enjoyed a rise in gold production according to the latest results in its quarterly report.<br/> <br/>The firm reported a quarterly production of gold, platinum, palladium and rhodium of 41,622 oz.<br/> <br/>The figures represent an increase on the previous quarter, when 40,497 oz was produced, as a number of new initiatives began to have an impact.<br/> <br/>Chief among these was the switch to a seven-day working week, with a new shift system enabling productivity to rise.<br/> <br/>At the firm's Ngezi plant Zimplats saw mined ore volumes surpass budgeted expectations by 13 per cent.<br/> <br/>Zimplats also enjoyed record concentrator recovery and said that it had made progress on its efforts to restructure its financial backing.<br/> <br/>However, Zimplats again touched on the "difficult" economic environment in Zimbabwe, with inflation remaining a problem.<br/> <br/>"This, coupled with the managed exchange rate continues to have an adverse effect on the company's local costs and profitability," Zimplats said in its report.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8370662"/>

 

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