Chronicle Editor
Nqobile Bhebhe, [email protected]
Zimplats, a leading platinum group metals (PGMs) producer, paid a dividend of US$100 million to shareholders in the 2024 financial year, down from US$220 million the previous year.
In the FY2024 annual report, Chairman Professor Fholisani Sydney Mufamadi stressed the company’s commitment to creating and sharing value with key stakeholders, including shareholders.
“Despite the difficult economic environment, the Company remains dedicated to creating and sharing value with key stakeholders, including shareholders.A dividend of US$100 million was paid to shareholders during the year (FY2023: US$220 million),” he said.
On social investments, the firm spent US$0.9 million (FY2023: US$4.7 million) on social investment projects focusing on community well-being, education and skills development, local enterprise, and infrastructure development, with the purpose of creating self-sustaining and inclusive host communities.
The reduction in financial support for social investment projects was due to cash flow constraints resulting from the weak commodity prices that characterised the year. Local procurement, expressed as a percentage of total spend, increased marginally to 51 percent in the period (FY2023: 47 percent).
Zimplats says it remains committed to fostering successful businesses through its local enterprise development programme, which, in line with its strategy, provides support to and nurtures small to medium enterprises.
In the period under review, the complement of permanent employees increased by three percent to 4 056 in the year (FY2023: 3 926) mainly due to recruitment for pillar reclamation at Rukodzi Mine and the production ramp up at Mupani Mine.
In response to the persistent weakness in dollar metal prices, a labour restructuring was completed in Q4 FY2024, affecting 67 permanent employees, while the contractor complement was decreased by six percent to 4 790 contractor employees (FY2023: 5 055).
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