Ontario-based precious metals producer North American Palladium has announced that it produced 163,980oz of palladium for the year ending December 2012, exceeding its earlier projections of 150,000 to 160,000oz.
LDI mine produced 44,294oz of payable palladium in the fourth quarter of 2012, while the LDI mill processed 511,226t of ore, of which 239,794t were from underground sources, and the remaining from surface sources.
The company totally recovered 82% palladium at a combined average mill head grade of 3.61g a ton in the quarter.
In the the fourth quarter, North American Palladium stated that it had made huge progress in advancing the critical aspects of its mine expansion.
Construction of the headframe, main substation, hoist house building, auxiliary hoist and service hoist for shaft sinking has been fully completed and these are now operational.
The company said that it is proceeding with underground, shaft sinking according to the set timelines.
North American Palladium expects to begin mining for palladium through the shaft in the third quarter of 2013.