RBPlat sees a 26% increase in tonnes milled - CNBC Africa

RBPlat sees a 26% increase in tonnes milled


by Trust Matsilele 0

RBPlat sees a 26% increase in tonnes milled. PHOTOS: destinyman

The group’s quarterly review and production report for the period 1 July to 30 September 2014 revealed that tonnes delivered to concentrators were 11 per cent higher than in the third quarter of 2013.

(READ MORE: Royal Bafokeng set to reduce capex)

The mining company saw a decrease in its cash operating cost in the same period.

“Cash operating cost per tonne milled decreased by nine per cent to 945 rand and per platinum ounce by seven per cent to 12 364 rand year-on-year,” the company said in a statement.

“The lower milled volumes in the third quarter of 2013 exaggerate the unit cost improvements. However, cost per tonne milled and cost per platinum ounce for the quarter are 4% lower compared to the first half of 2014.

[DATA RBP:Royal Bafokeng Platinum Limited] saw improved capital expenditure for the period under review.

“Capital expenditure ended 37 per cent (R103.2 million) higher for the quarter under review when compared to the same quarter in 2013,” RBPlat said.

RBPlat added that expansion capital increased by 47 per cent (R89.9 million) in line with the Styldrift construction schedule.

The company also saw replacement capital expenditure surging by 32 per cent (R13.4 million) which reflects expenditure on the Phase III project.

“Stay-in-business (SIB) capital expenditure of 41 million rand is consistent with our target range of between six per cent and eight per cent of operating costs.”

The group also said zero harm remains one of RBPlat’s primary and most important goals and is key to achieving the company’s strategic objective of operational excellence.

(READ MORE: RBPlats encouraged by better safety numbers)

“The serious injury frequency rate is 39 per cent higher than the equivalent quarter for 2013 and requires additional focus and training to bring about improvement and move us from compliance to pro-active on the safety maturity ladder,” said RBPlat.