Zimplats is set to begin the next phase of its 185MW solar project after the first 35MW phase went live last year.
Zimbabwe’s largest platinum producer is developing the project in four phases, with the initial phase—completed in August—now generating above nameplate capacity, peaking at 36.5MW and fully connected to the national grid.
The company is now securing funding for the next phase, a 45MW expansion which will cost US$54 million. “Project funding agreements are ongoing prior to commencement,” Zimplats states in its half-year report.
Zimplats is investing in more power as part of a broader US$1.8 billion expansion project, which includes developing new mining areas and processing capacity. However, low platinum prices over the past two years have forced the company to slow down some of its projects.
In the six months to December, Zimplats suffered a drop in revenue, hit by a fall in sales and low production caused by processing delays. Revenue came in 6% lower at US$350.2 million, impacted by a 13% fall in sales volumes.
“Lower-than-planned concentrator production, increase in furnace lockup and the delayed commissioning of the expanded smelter converters impacted 6E production, which decreased by 15% to 279 890 ounces from 327,810 ounces. In total 23,191 6E ounces were accumulated between concentrate and final production in the period,” Zimplats reports.
Part of the key projects include the expansion of the smelter and a sulphur dioxide abatement plant. This project “is technically complete, with converter commissioning completed in December 2024”, says Zimplats. The new furnace will increase smelting capacity from the current capacity of 135,000 tonnes per year of concentrate to around 380,000 tonnes per annum. – (NewZWire)
