Zimplats seeks engagement with Mugabe's govt over mining land dispute

Zimplats Holdings, which has just announced a US$25,6 million profit from operations, says will seek to engage government to resolve the on-going dispute over underutilised mining land.

The government recently filed an application to the administrative court seeking confirmation of the compulsory acquisition of the underutilised 28 000 hectares of mining land held by Zimplats Holdings in Kadoma.

The mining concern says it will seek to engage the government in constructive dialogue in an endeavour to have the dispute resolved amicably.

The firm posted a profit from operations after royalties of US$25,6 million was realised during the second quarter compared to US$6,7 million recorded in the previous quarter.

Buy Zimbabwe Chief Economist, Mr Kipson Gundani commended the increase in local spending by the company, adding that the firming metal prices on the international market comes as a positive development to the local platinum miners including Zimplats.

According to the recently released operations update report, the company's revenue during the second quarter plunged 7% while tonnes mined improved by 2%.

The mining concern says implementation of the Ngezi Phase 2 expansion project is progressing well and a total of US$453 million of the project budget had been spent as at 30 June 2016.