(Kitco News) – South African platinum group metals (PGM) producer Sylvania Platinum immediately reported that its Sylvania dump operations (SDO) achieved 36,335 ounces for the primary half of the 2021 monetary yr (six months interval ended December 31, 2020), which was 9% decrease than the corresponding interval in 2020.
The corporate mentioned that there has been a big enhance in vandalism and theft of copper cables at numerous substations of the nationwide energy utility throughout Q2 that affected energy provide and manufacturing – significantly on the Western operations, which has resulted in roughly 2% downtime within the reporting interval.
However, the corporate mentioned it has recorded income of $85.2 million for the six months to 31 December 2020, a 44% enhance half-year on half-year, because of the upper basket value. The typical platinum value elevated 8% from $915/oz to $985/oz, palladium elevated 27% from $1,847/oz to $2,345/oz and rhodium elevated 167% from $5,702/oz to $15,213/oz from 31 December 2019 to 31 December 2020.
The corporate stays assured that the SDO ought to obtain the beforehand introduced goal for the yr of 70,000 ounces.
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