M a r k e t N e w s
South Africa: Platinum Producer Records Solid Performance
Posted on : Wednesday, 24th August 2016
OPERATIONAL flexibility and stability, underpinned by sound strategy enabled Royal Bafokeng Platinum deliver strong operational and financial performance for the first half of 2016.
Net revenue increased by 15,8 percent from R1,422 billion in the first half of 2015 to R1, 646 billion for the reporting period due to a 9 percent increase in the average rand basket price to R19 680 per platinum ounce in the first half of 2016, compared to R18 062 in 2015 and a 6 percent increase in platinum ounces sold.
Total capital expenditure for the period under review amounted to R517 million, which is 55 percent, or R624 million lower compared to the same period in 2015.
Total cash operating costs increased by 8 percent from R1 228 million to R 1 329 million compared to the first six months of 2015.
Total tonnes delivered to the concentrators increased by 10 percent to 1 296kt compared to the same reporting period in 2015.
Source : allafrica.com
