Platmin's primary asset is the Pilanesberg Platinum Mine on the Bushveld's Western Limb, in the North West Province.

Sales revenue the quarter was US$34.5 million, an increase of approximately 130% compared with US$15.0 million recorded in the prior corresponding period.

The increases in sales revenues were attributed to higher metal sales and an increase in platinum group metal (PGM) basket prices in US dollar terms over the period.

However, the benefit of the improved US dollar PGM basket price was somewhat offset by the strength of the rand, resulting in marginal decreases of the rand PGM basket prices received compared with the prior corresponding periods.

Sales for the quarter amounted to 21,888 ounces, an increase of over 100% compared with 10,870 ounces in the prior corresponding period.

The company said volumes treated in the concentrator continued to improve with monthly tonnes milled between January and June 2011 increasing from 207,000 tonnes to 277,000 tonnes.

On June 23, illegal disruptions by a small group of employees of the company's mining contractor MCC, a wholly-owned subsidiary of Eqstra Holdings, resulted in serious damage to certain items of MCC's equipment and interrupted mining operations.

While PPM's concentrator continued to operate, processing stockpiles of oxidized material, the projected ramp up to 12,000 ounces a month by the end of 2011 could be delayed by three to six months.

Platmin CEO Tom Dale noted that although work had resumed in the Tuschenkomst pit, a focus on sound industrial relations and long-term industrial peace was required.

With MCC indicating that it is currently unable to haul the volumes of rock budgeted at the PPM site due to extensive damage to the fleet, the mine intends to bring in an additional mining contractor.

"Prior to the industrial action, we were on our way to achieving breakeven and full production. We are confident that, once the revised operating structures are functioning, we will get back on track," said Dale.