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Zim mining industry backs platinum refinery

Zim mining industry backs platinum refinery

Photo by Bloomberg

4th February 2014

By: Reuters

  

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JOHANNESBURG – Zimbabwe's mining industry is in favour of a government proposal to build a new platinum refinery by 2016, a senior mining official said on Monday.

"We are at one with the government on this issue... it is the how and the means that differ," Zimbabwe Chamber of Mines president Alex Mhembere of the said on the sidelines of an African mining conference in Cape Town.

Mhembere, also the CEO of Impala Platinum unit Zimplats, said the industry was nearing the 500 000 oz of yearly output needed to make such a refinery viable.

Separately, Zimplats reported a 48% drop in operating profit for the three months to end-December, dragged down by weaker sales and global metal prices.

Revenue was down 13% during the same period.

Edited by Reuters

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