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Palabora - Fourth Quarter 2004 - Operations Overview And Production Statistics
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number - 1956/002134/06
Share Code: PAM ISIN: ZAE000005245
(`Palabora` or `the Company`)
FOURTH QUARTER 2004 - OPERATIONS OVERVIEW AND PRODUCTION STATISTICS
PRODUCTION STATISTICS
FULL FULL
4Q 1Q 2Q 3Q 4Q YEAR YEAR
2003 2004 2004 2004 2004 2003 2004
Palabora mine
Tonnes hoisted 2,022 1,833 1,910 2,405 2,464 5,999 8,612
(`000 tonnes)
Ore treated
(`000 tonnes) 2,838 2,101 1,897 2,345 2,314 11,415 8,657
Average ore
grade: copper 0.63 0.76 0.74 0.75 0.73 0.59 0.74
(%)
Copper
concentrates 46.3 35.9 35.4 64.2 52.2 163.3 187.7
produced (`000
tonnes)
Average
concentrate 31.3 29.7 28.3 27.7 30.6 32.1 29.0
grade: copper
(%)
Copper in
concentrates 14.5 10.7 10.0 17.8 16.0 52.4 54.4
(`000 tonnes)
Palabora
smelter/refiner
y
New concentrate
smelted on site 72.5 59.4 68.0 59.0 67.0 267.6 253.4
(`000 tonnes)
New copper
anodes produced 21.3 15.8 19.7 14.4 17.3 76.7 67.2
(`000 tonnes)
Refined new
copper produced 20.9 17.9 17.2 16.2 16.2 73.4 67.5
(`000 tonnes)
By-products:
Magnetite
concentrate 68 105 160 144 165.2 215 574.3
(`000 tonnes)
Refined nickel
sulphate 38 53 37 36 40.8 152 167.1
(tonnes)
Vermiculite
plant
Vermiculite
produced (`000 35.6 38.4 51.5 52.7 50.8 173.2 193.4
tonnes)
Daily production from the underground mine in the period continued to improve
and averaged 26,778 tonnes, 18% higher than the fourth quarter of 2003. A
daily production record of 35,191 tonnes was achieved.
Mill throughput was consistent with underground mine production. The total
underground ore treated during the fourth quarter of 2.3 million tonnes was 33%
higher than in the same quarter of 2003. In 2003 ore treated was supplemented by
ore scavenged from the open pit ramps.
Copper in concentrate production was higher in the fourth quarter of 2004
compared with 2003 due to the higher grade and improved recovery. Recoveries
from underground ore averaged 88% in the quarter and 87.1% for the year.
Smelter throughput was affected by unplanned maintenance on the Power Plant.
Concentrate feed to the smelter continued to be supplemented by purchased
concentrates, (15,000 tonnes in the quarter).
Refined copper output was in line with anode supply from the Smelter.
Vermiculite Operations
Production for the fourth quarter of 2004 was 42% higher than the corresponding
quarter in 2003, due to the closure of operations in December 2003 to match
prevailing market activities. Continued improvement in mining and plant
operations has improved overall production for 2004 to 3% above plan.
Magnetite
Production of coal-washery medium grade magnetite for domestic use was
supplemented by increasing volumes of coarse magnetite sales for export to the
Chinese market.
For further information please contact the Managing Director, Keith Marshall, on
+27 (0) 15 780 2802.
Phalaborwa
19 January 2005
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 19/01/2005 10:35:20 AM
Produced by the JSE SENS Department
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