Zimplats to set up refinery in Zimbabwe

Zimplats yesterday said it held successful negotiations with government on the establishment of a refinery.

Speaking on the sidelines of a tour of the Zimplats Mine in Ngezi by the Mines and Mining Development minister Walter Chidhakwa, Zimplats CEO Alex Mhembere said his company had submitted 4 proposals including the establishment of a platinum refinery.

Mhembere noted that players in the platinum industry together with government need to ensure the issue of setting up a refinery plant be of significant value in order to achieve huge benefits as a country.

Zimplats has earmarked $469 million for the opening of a new mine which is set to replace one of its operational four mines.

The mining company currently has four mines namely Mupfuti, Rukodzi, Bimha and Ngwarati and the opening of a new mine is set to replace the Rukodzi mine, which is now old and unsustainable.   

Zimplats CE Alex Mhembere said the company is set to embark on a drive to explore new mining claims in the area to try and increase capacity utilization as well as expand the business.

Zimplats is currently producing 180 000 platinum ounces, 145 000 palladium ounces, 16 000 ounces of rhodium and 20 000 gold ounces a year.