HEAVYWEIGHT Zimplats is a major platinum player in Zimbabwe
Platinum producers Anglo American Platinum (Amplats) and Impala Platinum (Implats) last month entered into an agreement with the Zimbabwe government to complete within the next two years their contracts to build refineries in the country .
“The companies have two years to implement their plans. We are confident that we will ensure that they not only do so in two years, but even within a shorter period,” says Mines and Mining Development Minister Walter Chidhakwa.
Amplats owns the Unki platinum mine, located in the city of Gweru, while Implats operates in Zimbabwe through its subsidiary platinum miner, Zimplats.
Amplats and Implats were initially contracted by the Zimbabwe government in January after the companies had submitted proposals, through Unki and Zimplats respectively, to build precious metals refineries in the country.
Zimplats spokeperson Busi Chindove says the company invested $30-million in feasibility studies that assessed the cost of a major refinery.
“The companies have made a commitment that they will continue to support Zimbabwe, and the setting up of a platinum refinery is one of their aspirations,” says Chidhakwa.
Further, Zimplats is also refurbishing its base metals refinery that is expected to be completed by the middle of next year. The refinery separates platinum-group metals such as nickel, chrome and copper. However its outdated technology makes it too expensive to run, which forces the miner to send platinum concentrate to South Africa for processing.
Meanwhile, the Zim- babwe government also recently suspended a 15% tax on unrefined platinum exports that it had imposed in January to encourage the local processing of platinum, after miners said this would negatively affect their margins at a time when global mineral prices were falling.