Despite the impact of low platinum prices, Zimplats has pressed ahead with some key expansion projects, completing a new mine upgrade while commissioning a new solar plant and processing facility.
The 34MW solar plant is the first phase of a planned 185MW project meant to secure the energy the mine needs to back up its US$1.8 billion expansion projects. The expansion includes a larger smelter, which is now going through commissioning. The first matte was produced this month, Zimplats says.
“The commissioning of the solar project and the enlarged furnace complex at Zimplats during the period were notable highlights, with the operation now poised to benefit from improved processing capacity and environmental performance, and lower energy costs,” says Zimplats parent company Implats.
The country’s largest platinum producer has finished upgrading the Bimha Mine, meant to party replace production from the Mupfuti Mine, which reaches the end of its life in the 2029 financial year. The upgrade has increased capacity at Bimha mine from 2 million tonnes to 3.1 million tonnes per year. A new mine, Mupani, is being developed to replace the depleted Rukodzi and Ngwarati mines, with full production of 3.6 million tonnes per annum planned for the first half of FY2029.
“Cumulatively, US$413 million has been spent on these projects as at 30 September 2024, against a total project budget of US$468 million,” Zimplats says in its latest quarterly report. Zimplats has so far invested US$412 million into the smelter expansion and sulphuric acid abatement plant project against a total project budget of US$544 million.
Zimplats is also working on its base metal refinery. The company is investing US$190 million into that project, which. When complete, the refinery will also process platinum from other miners, meeting a government demand for local refining.
Zimplats announced its major expansion programme for Zimbabwe in 2019. However, a sharp drop in global platinum prices over the past year forced Zimplats to slowdown some of the projects. – (NewZWire)
