LocalNews

US$365 million Zimplats capital projects on course

By Business Reporter – 06 February 2019

HARARE – (Mining Index) – The US$365 million Zimplats capital projects in developing the new Mupani Mine and redeveloping the collapsed Bimha Mine are on course, with the Bimha Mine south underground crusher and ore conveyancing system expected to be commissioned in August this year.

Installation of the north underground crusher and the ore-conveyancing system were completed during the last quarter of 2018.

In a quarterly report ending 31 December 2018, Zimplats announced both projects are going on as planned, saying Bimha Mine redevelopment is on schedule while Mupani Mine development is ahead of schedule.

“The south underground crusher and ore conveyancing system are scheduled for commissioning in August 2019.”

Bimha mine collapsed in 2014 due to a major geological fault in the rock accounted for half of Zimplats production affecting production and overall contribution to the fiscus. In the last quarter of 2018, Zimplats contributed US$16 million to the fiscus.

Massive capital investments in redeveloping and redesigning the collapsed Bimha mine are pegged at US$101 million.

“A total of US$76 million had been spent as at 31 December 2018 against a total project budget of US$101 million.”

In 2017, the platinum giant approved the development of the new Mupani Mine at a cost of US$264million, forecasted to provide over 1 000 jobs when fully operational.

“A total of US$51 million had been spent as at 31 December 2018 against a total project budget of US$264 million.”

Development of Mupani Mine, which is the replacement for Ngwarati and Rukodzi mines, is targeting ore contact by August 2019 and full production in August 2025. ENDS//

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