Sylvania Dump Operations (SDO) produced 17 926 oz of platinum, palladium, rhodium and gold (4E) platinum group metals (PGMs) at its operations in South Africa in the third quarter of the company’s 2023 financial year.
Company chief executive Jaco Prinsloo said output for the quarter exceeded their target.
“Traditionally, quarter three is a lower quarter in terms of production as a result of the slower startup after the December break at the host mines and the shorter February month,” he said.
“In comparison with quarter three of full-year 2022, production increased by 13.2% due to various interventions at the operations which have assisted in improving the recovery efficiencies at some of the plants.”
Prinsloo said SDO had increased the annual PGM production guidance to between 72 000 oz and 74 000 oz of 4E PGMs for full-year 2023 owing to strong production performance for the year to date and positive results following the post-commissioning optimisation of the Tweefontein MF2.
Meanwhile, SDO registered $ 26.5 million in net revenue for the quarter.
Its group earnings before interest, taxes, depreciation and amortisation for the period under review were $ 9.8 million.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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