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Zimbabwe platinum mines back in business

by Staff reporter
02 Mar 2017 at 06:17hrs | Views

Zimbabwe's largest platinum miner, Zimplats Holdings Limited, last week reported a six percent rise in output for the half year ended December 31, 2016, after ramping up production to offset the effects of weak prices on the global market.

Zimplats, which said tonnes mined during the review period rose six percent to 3,47 million compared to the same period the previous year, reaffirmed sector-wide optimism that after a difficult 2016, platinum mines were creeping back to stability, although prospects were still unclear due to prevailing price volatilities.

Zimplats, which controlled 60 percent of total platinum output in Zimbabwe last year, said it expanded production at Mupfuti and Bimha mines and grew revenue by 16 percent to US$237,7 million compared to the prior comparative period the previous year.

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Source - Fin Gaz