INTERCEPTS Thu 31/07/2014

Sylvania faces production cut

20th Mar 2012

PERTH, Mar 20 --  Severe weather conditions, neighbouring mine strike action and safety related stoppages at the Sylvania Dump platinum group metal (PGM) operations in South Africa will hurt Sylvania Platinum’s 2012 financial year production.

The company had planned a 50% increase on its 2011 performance, but has lowered its full financial year 2012 production outlook from 60,000oz to 50,000oz, still about 25% higher than last year.

The target has been underpinned by Sylvania’s recent commissioning its 6th plant at Mooinooi.

Sylvania mines from a series of PGM tailings and near surface mining development projects that do not require high development costs.

 

HighGrade

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