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Platinum group metals producer Sylvania Platinum said its profit rose in the second quarter compared to the first after higher output boosted revenue, though it trimmed its annual output guidance.
The company was now targeting production of 66,000 to 68,000 ounces for the full year.
Net profit for the three months through December increased 80% to $15.5 million, up from $8.6 million in the first. Revenue rose 27% to $37.9 million.
Sylvania Platinum pinned the output guidance change on a temporary suspension of the Lesedi operation, together with subsequent water shortages at its Western operations and lower than planned PGM feed grade of Mooinooi material.