South Africa's Royal Bafokeng announces record quarterly platinum group metals production

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(Kitco News) - South African platinum groupmetals producer Royal Bafokeng Platinum (JSE: RBP) announced today that notwithstandingthe ongoing impact of the COVID-19 pandemic and the protracted third wave,which reached its peak during July, the companyachieved record 4E ounce production of 127koz in Q3 2021.

The company said that thisrecord production has been underpinned by steady BRPM performance and animproved Styldrift performance, marginally offset by lower grades andconcentrator recoveries.

"The combination of increasedmilled volumes, lower built-up head grade and associated reduction inrecoveries achieved during the quarter, yielded a 4E metals in concentrateincrease of 2.0% to 127koz. 4E metals in concentrate for the year to dateincreased by 15.0% to 342.8koz compared to 2020," the company noted in itsstatement.

The company added that itsguidance for the full year remains unchanged, with 4E ounce production expectedto be between 475koz and 485koz for the year.

RBPlat mines platinum groupmetals in the Merensky and UG2 reefs on the Boschkoppie, Styldrift andFrischgewaagd farms in the Rustenburg area, South Africa, which have beenidentified as hosting the last undeveloped Merensky reef on the Western limb ofthe Bushveld complex. RBPlat's assets are the only known significant shallowhigh grade Merensky resources and reserves still available for mining in SouthAfrica.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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