Zimplats Tax Liability Doubled to $50.4 Million

Zimplats said its additional profits tax liability more than doubled to $50.4 million after the government disallowed a deduction.

Operating profit increased 49 percent to $74.7 million in the three months through Dec. 31 from a year earlier while production of platinum group metals was little changed at 92,964 ounces of metal in concentrate, Zimplats Holdings Ltd. said in a stock exchange statement today.

Development of Bimha mine should be completed in December, it said.