https://www.miningweekly.com

Zim platinum output up 43% in first quarter

13th July 2016

By: News24Wire

  

Font size: - +

HARARE – Zimbabwean platinum miners have ignored policy uncertainties in the country and continued to ramp up production, according to the central bank.

The Reserve Bank of Zimbabwe’s (RBZ's) report for the first quarter of 2016 showed platinum output rose by 43% to 4 321 kg from 3 020 kg in the prior comparative year. The RBZ attributed the growth to increased production across all producers including Zimplats, Mimosa and Unki.

“Platinum production also responded positively to the recovery in average international platinum prices that occurred during the first quarter of 2016,” said the RBZ.

“Platinum prices rose from an average price of US$908 per ounce during the fourth quarter of 2015, to $913 per ounce during the first quarter of 2016,” it added.

The growth in platinum production comes at a time when the Zimbabwean government has taken court action agains Zimplats, seeking the compulsory acquisition of 28 000 hectares of mining land belonging to the mining company.

Zimbabwe also recorded growth in nickel production which increased to 4 874 t in the first quarter of 2016, compared to 4 440 t produced in the same period in 2015.

Gold production was also ramped up to 5 060 kg in the first quarter of 2016, up from 4 180 kg produced during the comparable period in 2015.

The growth in gold production comes as analysts, particularly in the United Kingdom, are advising investors to seek refuge in gold stocks as sterling is weakening against the United States dollar.

Edited by News24Wire

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.134 0.174s - 92pq - 2rq
Subscribe Now