JOHANNESBURG – Royal Bafokeng Platinum (RBPlat) has lowered the upper end of its 2018 production guidance and expects operational costs to fall below inflation.
The miner said unit cost increases would be below Consumer Price Index inflation.
The group said the R2 billion capital injection earlier this year was paying off, with increases across all production aspects in the quarter to September 30.
In March, the group said it had made a 106 percent injection to R2.16bn into its expansion capital expenditure for the year to December 2017 as part of the ramp up of its Styldrift project in North West.
The group said in the quarter to September that Styldrift-delivered tonnes increased by 138.9 percent to 356 000 tons (kt) in line with ramp-up requirements to achieve the 150ktpm milestone by year end, while Bafokeng Rasimone Platinum Mine (BRPM) delivered tons decreased by 9.5 percent to 583kt.