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RBPlat to shut BRPM concentrator for repairs

2nd August 2013

By: Creamer Media Reporter

  

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Royal Bafokeng Platinum (RBPlat) will shut down its Bafokeng Rasimone platinum mine (BRPM) concentrator for two to three weeks in August for repairs.

The company said on Tuesday that it would spend R4.5-million to replace the concentrator’s mill discharge end.

“Depending on the duration of the concentrator shutdown, between 96 000 t and 145 000 t of Merensky ore will be stockpiled ahead of the concentrator during this period, which stocks are expected to be depleted by the end of December 2013,” RBPlat said in a statement.

The company also separately announced that it would report higher earnings for the six months to the end of June, putting its earnings per share (EPS) and headline earnings per share (Heps) in the range of between 83c and 92c. This compares with an EPS and Heps of 43c for the previous corresponding period.

Normalised EPS, after adjusting for an additional amortisation and depreciation charge related to a fair value adjustment, were expected to be between 102c and 111c, up from normalised EPS of 62c a year earlier.

RBPlat attributed the expected increase in earnings to higher realised revenue basket prices together with sustained production and cost containment during the first half of 2013.

The platinum miner plans to publish its interim results on August 12.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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