| Mon 20 Apr 2009, 16:01 | | PAM - Palabora - First Quarter 2009 - Operations overview and production |
|
PAM
PAM
PAM - Palabora - First Quarter 2009 - 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")
FIRST QUARTER 2009 - OPERATIONS OVERVIEW AND PRODUCTION STATISTICS
FULL
1Q 2Q 3Q 4Q 1Q YEAR
2008 2008 2008 2008 2009 2008
Palabora mine
Tonnes hoisted (`000 2,699 2,966 11,830
tonnes) 3,026 3,086 3,019
Ore treated (`000 3,181 3,027 3,096 3,150 2,789 12,454
tonnes)
0.71 0.71 0.66 0.67 0.68 0.69
Average ore grade:
copper (%)
Copper concentrates 73.9 89.4 56.5 66.7 67.7 286.5
produced
(`000 tonnes)
Average concentrate 29.9 29.2 30.3 29.6 30.5 29.7
grade:
copper (%)
Copper in 22.1 26.1 17.1 19.7 20.5 85.1
concentrates (`000
tonnes)
Palabora
smelter/refinery
New concentrate 66.4 72.3 52.5 70.0 72.8 261.3
smelted on site (`000
tonnes)
New copper anodes 18.1 22.3 14.9 20.7 20.2 75.9
produced
(`000 tonnes)
Refined new copper 18.3 21.6 17.0 19.1 21.0 75.9
produced
(`000 tonnes)
By-products:
Magnetite concentrate 446 475 562 469 772 1,951
(`000 tonnes)
Nickel contained 42 26 13 19.3 21.4 100
(tonnes)
Copper sold as 1.8 3.2 1 4.5 0 10.5
concentrate (`000
tonnes)
Vermiculite plant
Vermiculite produced 50 50 50 49 52 199
(`000 tonnes)
Palabora, 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 32,953 tonnes for the
quarter. The production during the quarter was consistent with the previous
quarter but 11% higher than the corresponding period in 2008. In total,
2,965,803 tonnes of ore were hoisted during the quarter with a copper grade of
0.68% marginally better than that of the previous quarter`s grade.
Ore treated was 11% lower sequentially and 12% lower year on year mainly due
to a combination of the stock build following failures of both drive motors on
one of the automills and not processing marginal ore as was the case in the
fourth quarter of 2008.
Copper concentrate production improved slightly by 1.5% sequentially, but 8.4%
lower year on year. The drop was attributable to the halt in Palabora`s
marginal and oxide ore processing.
Copper in concentrate was 4% higher sequentially due to improved metal
recovery rates and 7% lower year on year, in line with the relative decrease
in production and increase in grade.
The new concentrate smelted improved by 4% sequentially and 9.6% higher year
on year due to more focus being placed on the smelting efficiencies. The new
copper anode production was impacted by plant reliability resulting in a 2.9%
lower output than the previous quarter, and 11.6% higher than the
corresponding period in 2008.
The refined new copper produced was 10% higher sequentially and 15% higher
year on year in line with smelter output (new copper anodes produced).
The nickel plant production is steadily increasing to achieve planned levels
but has been limited by the optimisation of the metallurgical balances within
the Tankhouse.
Magnetite
Magnetite production for the quarter was 64.6% higher sequentially and 73%
higher year on year in line with the magnetite reclaim ramp-up schedule.
Vermiculite Operations
Vermiculite production was 6% higher sequentially and 4% higher year on year
and indications are that this production rate will be maintained for the
remainder of the year. Improvement work was done on large grade material by
increasing the size range and this was welcomed by the international market.
The above information has not been reviewed or reported on by the company`s
auditors.
Phalaborwa
20 April 2009
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 20/04/2009 16:01:52 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
