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Zimplats will spend $142 re-opening its Bimha mine
27 Jun 2015 at 20:19hrs | Views
Zimplats will spend $142 million reopening its Bimha mine, which closed in August last year when a shaft collapsed.
"We managed to avert a potential catastrophe," Acting Chief Executive Officer Stanley Segula said in an interview at Ngezi, 140 kilometers (87 miles) west of the capital, Harare. "We came up with new designs for the mine and we're in the process of redeveloping it." Bimha is scheduled to reopen in April 2018, Segula said.
Impala's unit, known as Zimplats, will also commission a base-metal refinery in July 2016 at a cost of $131 million, he said. $20 million has already been spent on the project.
Zimbabwe's government this year imposed export penalties on platinum exporters for shipping unprocessed ore and smelting the metal in neighboring South Africa, the world's biggest producer of the metal.
The price of platinum for immediate delivery has declined 27 percent in the past 12 months to $1,080.05 an ounce by 12:16 p.m. in London.
"We managed to avert a potential catastrophe," Acting Chief Executive Officer Stanley Segula said in an interview at Ngezi, 140 kilometers (87 miles) west of the capital, Harare. "We came up with new designs for the mine and we're in the process of redeveloping it." Bimha is scheduled to reopen in April 2018, Segula said.
Zimbabwe's government this year imposed export penalties on platinum exporters for shipping unprocessed ore and smelting the metal in neighboring South Africa, the world's biggest producer of the metal.
The price of platinum for immediate delivery has declined 27 percent in the past 12 months to $1,080.05 an ounce by 12:16 p.m. in London.
Source - ©2015 Bloomberg News
