Palabora Mining Company Limited - Update On The Re
PAM
PAM
Palabora Mining Company Limited - Update On The Reverbatory Furnace Rebuild.
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")
UPDATE ON THE REVERBATORY FURNACE REBUILD.
Palabora, situated in the Ba-Phalaborwa area of Limpopo, operates South Africa"s
largest copper mine. After 40 years of mining from a large, open-pit operation,
the ore is now extracted in an underground operation located immediately below
the open pit. Overall copper production is supplemented by imported copper
concentrates from Zambia.
Underground production levels, up to and including 22 March 2006, have averaged
just over 31,000 tonnes per day at a grade of 0.72% copper compared to 26,000
tonnes per day at a grade of 0.72% copper during the fourth quarter of 2005.
Further to the SENS announcement made on 9 February 2006, the rebuild of the
reverbatory furnace has been completed and copper smelting operations have
recommenced with the first anode cast being delivered on 12 March 2006.
During the commissioning phase of the smelter some problems have been
experienced downstream of the furnace with the boilers and in the power house.
As a result, the furnace is currently operating at reduced capacity. It is
anticipated that this situation will continue for the next two weeks and will
impact copper production and copper sales in April by around 1,000 tonnes of
copper.
Phalaborwa
23 March 2006
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 23/03/2006 08:30:39 AM Produced by the JSE SENS Department
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