adminLOCAL platinum producer Zimplats says it has contributed $97 million in the full year to June 2014 to the national fiscus in direct and indirect taxes making the platinum producer one of the country’s largest taxpayers.
According to Zimplats, the company’s contribution to the fiscus from 2002 to date is $466 million.
The mining giant says it has also used $117 million in capital expenditure to expand and maintain operations during the year. Employment costs stood at $65 million while operating expenses are at $264 million.
Since 2002, the company has spent $1,2 billion in capex and $1,34 billion in operating expenses while employment costs in the 12 years now stands at $292 million. The company has also paid out a dividend of $63 million.
“Besides the huge contribution to the fiscus, Zimplats also benefited the country through its continued investment in expansion projects.
“The commissioning of its phase 2 expansion project resulted in an increase in the 10 metals under the platinum group of metals,” the company said.
Platinum production in the review period went up to 239 660 ounces from 198 746 ounces in the prior year and Palladium was at 197 623 ounces from 157 598 ounces in 2013.
Gold produced in the year stood at 27 250 oz up from 22 711 in the comparable period. Production of nickel was also up to 4 830 tonnes compared to 3 909 tonnes in 2013 and copper was at 3 521 tonnes from 2 920 tonnes in the previous year. Zimplats also produces rhodium, ruthenium, iridium, silver and cobalt at the point of export.
Zimplats, however, closed its largest mine, Bimha earlier this month following a collapse triggered by a deterioration of ground conditions.
The closure of Bimha mine is expected to affect production by up to 70 000 ounces. The miner also said its operations were in line with the Zim Asset programme.
“In line with government’s objectives to create and retain jobs, in FY14, Zimplats continued to be one of the biggest private sector employers with 6 074 people,” the company said.
Zimplats also said it has spent $250,4 million, a figure that represents 66,4 percent of total procurement on local businesses most of which are owned by indigenous Zimbabweans . -BH24
Online Reporter