Business / Companies
Mine collapse affects Zimplats production
30 Jul 2014 at 18:33hrs | Views
Mining giant, Zimplats says its production capacity has been reduced by an estimated 9,5 percent due to the Bimha Mine fall-out incident.
The mining company has begun to implement contingency plans following the Bimha Mine fall out and affected mining teams have been redeployed to other mines.
Zimplats CEO, Mr Alex Mhembere said teams that were operating at 100 percent capacity are down to 65 percent but the company has plans to develop a new portal, number 5 in January 2015.
The mining company reported $27,7 million profit after tax and $42,9 million profit before tax for the financial year ending 30 June 2014.
Zimplats said it contributed $19 million dollars to government revenue through income tax, royalties, PAYE and customs duty.
The firm is however still in negotiations with government on indigenisation after its initial proposal was rejected.
The company, which is 87 percent owned by South Africa's Impala Platinum has only met 20 percent of the required indigenisation level.
The mining company has begun to implement contingency plans following the Bimha Mine fall out and affected mining teams have been redeployed to other mines.
Zimplats CEO, Mr Alex Mhembere said teams that were operating at 100 percent capacity are down to 65 percent but the company has plans to develop a new portal, number 5 in January 2015.
The mining company reported $27,7 million profit after tax and $42,9 million profit before tax for the financial year ending 30 June 2014.
Zimplats said it contributed $19 million dollars to government revenue through income tax, royalties, PAYE and customs duty.
The firm is however still in negotiations with government on indigenisation after its initial proposal was rejected.
The company, which is 87 percent owned by South Africa's Impala Platinum has only met 20 percent of the required indigenisation level.
Source - zbc
