Sylvania resumes operations at Mooinooi, Millsell
Aim-listed platinum-group metals (PGMs) producer Sylvania Platinum has resumed operations at its Mooinooi and Millsell plants.
The company suspended operations on October 3, owing to industrial action at neighbouring mines in the Rustenburg area.
As a result, the Sylvania dump processing plants have experienced production downtime and have not been fully operational since mid-September, causing a loss in production estimated at about 3 500 PGM oz in September and October.
“The return to work by our employees will give Sylvania the opportunity to conclude the wage negotiations at the Western operations, following on the recent announcement reporting a settlement at the Eastern operations,” the company said in a statement.
Earlier this month, the company reached a wage settlement with workers at its Steelpoort, Doornbosch, Lannex and Tweefontein plants.
Sylvania currently expects production to be about 53 500 oz for this financial year.
MD Terry McConnachie said that while a large part of Sylvania’s production downtime was owed to industrial action, the company believed it was in a strong position to return to normal production volumes. “Of particular importance is that, unlike our peers, our operations are near surface and low cost.
“Sylvania has a proven track record of delivering on cash generation through rapidly bringing low-cost and low-risk operations into production with limited capital expenditure, a model which the company aims to continue going forward,” he noted.