A study into the feasibility of building a platinum refinery in Zimbabwe is complete, the Platinum Producers Association of Zimbabwe reports. Read on page 19 of this edition of Mining Weekly of the study being undertaken in response to the demand of the Zimbabwe government that value be added to high-value minerals prior to their export. Zimbabwe’s three platinum producers, Zimplats, Unki and Mimosa, are carrying out the study collaboratively, with initial indications pointing to a capital expenditure requirement of at least $2-billion. Platinum was a key driver of the mining sector’s 35% growth from 2009 to 2011, which resulted in increased pressure from government for greater local beneficiation.

The investigation of the Securities and Exchange Commission (SEC) of the New York Stock Exchange into the Gold Fields black economic-empowerment trans- action at the company’s South Deep mine, in South Africa, has not stood in the way of Gold Fields acquiring Barrick Gold’s Yilgarn South assets, in Western Australia, as was feared at one stage. This means that the South Africa-domiciled Gold Fields now has six mines in Australia and only one in South Africa. As can be read on page ten of this edition of Mining Weekly, the Yilgarn South transaction was part of Barrick’s bid to increase free cash flow and Gold Fields’ desire for greater geographic diversity. Gold Fields paid for half of the $270-million transaction with 28.7-million of its common shares at a volume-weighted average price of $4.70 apiece. Yilgarn South contains proven and probable reserves of 2.6-million ounces. Australia now accounts for 42% of global Gold Fields production.

A lack of funds to implement capital-intensive geothermal projects has forced the authorities in Kenya to turn to coal-powered plants to achieve a generation target of 5 000 MW by 2017. Read on page 19 of this edition of Mining Weekly of the Kenyan government inviting expressions of interest from the private sector for the development of the proposed Lamu coal-fired project, which will have the capacity to generate 900 MW to 1 000 MW. The decision to invest in coal power follows calculations pointing to geothermal power being unaffordable against the background of the country requiring 15 000 MW of power by 2030.