A new 3-year operating plan is expected to help
The plan is designed to boost throughput from the underground mine to 2,300 tons per day in 2001, up from more than 1,800 tons in 2000. In 2002, the figures is expected to be 2,500 tons per day, climbing to 2,800 tons by 2003.
In 2001, the mine should produce 500,000 oz. of combined platinum and palladium, growing to 590,000 oz. in 2002, and reaching 665,000 oz. by 2003.
Cash costs over the 3-year period should begin at US$230 per oz. in 2001, falling to US$200 oz. in 2002 and US$185 per oz. by 2003.
Over the next three years, the company will lay out US$200 million to implement the plan, including US$80 million in 2001 and US$60 million in each of the two following years. The money will be used to build a decline and conveyor system on the 2900 level, as well as upgrade the ventilation and rail systems on the 5000 level.
Meanwhile, the company continues to develop the East Boulder project, 13 miles west of the Stillwater mine. East Boulder is projected to produce more than 450,000 oz. annually, beginning in 2002. Cash operating costs are pegged at US$160 per oz.
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