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

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

The company said that this record production has been underpinned by steady BRPM performance and an improved Styldrift performance, marginally offset by lower grades and concentrator recoveries.

"The combination of increased milled volumes, lower built-up head grade and associated reduction in recoveries achieved during the quarter, yielded a 4E metals in concentrate increase of 2.0% to 127koz. 4E metals in concentrate for the year to date increased by 15.0% to 342.8koz compared to 2020," the company noted in its statement.

The company added that its guidance for the full year remains unchanged, with 4E ounce production expected to be between 475koz and 485koz for the year.

RBPlat mines platinum group metals in the Merensky and UG2 reefs on the Boschkoppie, Styldrift and Frischgewaagd farms in the Rustenburg area, South Africa, which have been identified as hosting the last undeveloped Merensky reef on the Western limb of the Bushveld complex. RBPlat's assets are the only known significant shallow high grade Merensky resources and reserves still available for mining in South Africa.

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