Two Rivers platinum mine adversely affected by a series of external events

Two Rivers platinum mine was adversely affected by a series of external events in the quarter ended 31 March 2022, including community unrest, localised Eskom power availability as a result of poor weather, which together with a series of equipment failures, negatively impacted mining performance.

The secondary mill expansion project was commissioned in February 2022 and facilitated higher milled throughput in the period, offsetting the impact of operational challenges. Milled volumes increased by 8% to 859 000 tonnes, and 6E volumes in concentrate increased by 7% to 76 000 ounces, with recoveries benefitting from increased plant capacity and offsetting lower milled grade.

Nine months ended 31 March 2022

Production at Two Rivers was negatively impacted by extended safety stoppages and intermittent localised community and power interruptions.

Tonnes milled increased by 4% to 2.53 million tonnes, but these volume gains were offset by a 6% lower milled grade of 3.22g/t 6E, impacted by both split reef and ore stockpile milling in the period. As a result, 6E concentrate volumes of 223 000 ounces were stable versus the prior comparable period.

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