Sundaymail Editor
Online Reporter
PLATINUM miner Zimplats says its investment in capital projects grew to US$270, 3 million in the 2022 financial year, a 70 percent increase from US$159, 1 million in the prior comparable period.
During the period, US$104 million was spent on developing Ngezi third concentrator plant with name plate capacity of 0, 9 million tonnes per annum (Mtpa).
The platinum miner also made an investment of US$37 million in the first phase of the 185 megawatt (MW) solar power project, as the group pursues sustainable development and mitigation of potential power supply risk.
And the company also invested on bankable feasibility studies for resuscitating the mothballed Base Metal Refinery at the Selous Metallurgical Complex (SMC), including the development of Mupani Mine.
Zimplats board chairperson Professor Fholisani Mufamadi said the company had more capital expenditure projects lined up for the miner’s energy and smelter projects going forward.
“The board approved a US$521 million investment in an expanded smelter (38MW furnace) and SO2 abatement plant during the year, and construction work has since commenced.
“Commissioning the SO2 abatement plant will go a long way in abating the point source SO2 emissions at our smelter while the commissioning of the expanded smelter will create opportunities for the group to carry out toll smelting of third-party concentrate.”
Online Reporter