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PAM
PAM
PAM - Palabora Mining Company - Second Quarter 2008 - Operations Overview And
Production Statistics
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number - 1956/002134/06
JSE Code: PAM & ISIN: ZAE000005245
("Palabora" or "the Company")
SECOND QUARTER 2008 - OPERATIONS OVERVIEW AND PRODUCTION STATISTICS
2Q 3Q 4Q 1Q 2Q 1H 1H
2007 2007 2007 2008 2008 2007 2008
Palabora mine
Tonnes hoisted 3,065 3,041 2,822 2,699 3,026 5,982 5,725
(`000 tonnes)
Ore treated 3,025 3,046 3,958 3,181 3,027 5,910 6,208
(`000 tonnes)
0.70 0.68 0.69 0.71 0.71 0.71 0.71
Average ore
grade: copper
(%)
Copper 56.0 48.6 52.5 73.9 89.4 138.1 163.3
concentrates
produced
(`000 tonnes)
Average 31.5 31.0 30.7 29.9 29.2 29.1 29.5
concentrate
grade:
copper (%)
Copper in 17.6 15.0 16.1 22.1 26.1 40.2 48.2
concentrates
(`000 tonnes)
Palabora
smelter/refiner
y
New concentrate 74.2 73.9 74.1 66.4 72.4 147.8 138.8
smelted on site
(`000 tonnes)
New copper 22.9 24.0 22.7 18.1 22.3 44.0 40.4
anodes produced
(`000 tonnes)
Refined new 22.9 24.0 24.0 18.3 21.6 43.7 39.8
copper produced
(`000 tonnes)
By-products:
Magnetite 321 361 363 446 475 582 921
concentrate
(`000 tonnes)
Nickel 12 43 45 42 26 17 68
contained
(tonnes)
Copper sold as 1 - 0.7 1.8 3.2 10 5
concentrate
(`000 tonnes)
Vermiculite
plant
Vermiculite 50 50 50 50 50 100 100
produced (`000
tonnes)
Palabora Mining Company, a member of the Rio Tinto Group of Companies,
situated in the Ba-Phalaborwa area of Limpopo, operates a large block cave
copper mine and smelter complex.
Daily production from the underground mine averaged 33,256 tonnes for the
quarter. The underground mine achieved the best daily production of 40,344
tonnes during this quarter. The production during the quarter was 12% higher
than the previous quarter and 1% lower than the corresponding period in 2007.
The tonnes hoisted for the first half of 2008 were 4% lower than the
corresponding period in 2007 due to the power shortage in January and
February. In total, 5,725,137 tonnes of ore were hoisted during the half with
a copper grade of 0.71%.
The ore treated decreased by 5% compared with the previous quarter and flat
year on year; largely due to discontinuation of the processing of surface
oxidised material.
Copper concentrate production was 21% higher sequentially and 60% higher year
on year mainly due to a combination of the reclaiming and transfer of 16,000
tonnes of low grade concentrate from 2007 pond inventory for sale and higher
processing rate of smelter secondary material.
Copper in concentrate produced was 18% higher than the previous quarter and
48% higher compared with the same quarter in 2007, mainly due to a combination
of copper from reclaimed low grade material and improved recovery from
reprocessed smelter secondary material.
New anode production was 23% higher sequentially and 3% lower compared with
the same quarter in 2007. The improved quarter over quarter and lower year on
year performances are explained by the power supply situation.
The refined new copper produced was in line with the smelter output (new
copper anodes produced).
Magnetite
Magnetite production was 7% higher than the previous quarter and 48% higher
year on year, in line with the increased off-take agreement for export grade
and improved rail capacity.
Vermiculite Operations
Vermiculite production was consistent with the previous quarter and when
compared with the corresponding quarter in 2007.
The above information has not been reviewed or reported on by the company`s
auditors.
Phalaborwa
16 July 2008
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 16/07/2008 08:05:02 Produced by the JSE SENS Department.
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