daniel chigunwe
Business Writer
ZIMBABWE’S largest platinum miner, Zimplats, says it has so far spent a total of US$413 million on its mine development projects against a budget of US$468 million.
The projects under the US$468 million budget are the Mupani Mine development as well as the Bimha Mine upgrade set to replace tonnage from Mupfuti Mine on depletion in the financial year 2029, has been completed.
In a quarterly report for the quarter ended September 30, 2024, Zimplats said a total of US$412 million has also been spent on the smelter expansion and SO2 abatement plant against an allocation of US$544 million.
“The development of the Mupani Mine, which replaces the depleted Rukodzi and Ngwarati mines, is progressing well and remains on schedule, with full production of 3,6 million tonnes per annum planned for first half in the financial year 2029.
“The Bimha Mine upgrade, to partly replace tonnage from Mupfuti Mine on depletion in FY2029, was completed in FY2024 with its design capacity successfully increased from two million tonnes to 3,1 million tonnes per annum.
“Cumulatively, US$413 million has been spent on these projects as at 30 September 2024, against a total project budget of US$468 million,” said the platinum producer.
“A total of US$412 million has been spent on the smelter expansion and SO2 abatement plant project against a total project budget of US$544 million.
“Hot commissioning of the expanded smelter began in the quarter under review, with first matte tapped in October 2024.”
Zimplats said US$36 million has also been spent on its 35MW solar plant project against a budget of US$37 million.
The solar plant was commissioned at the end of August this year and is currently ramping up power generation to design capacity.
A total of US$29 million has been spent on the Base Metal Refinery refurbishment project, against a total budget of US$190 million.
Meanwhile, mined volumes at Zimplats increased by 3 percent both year-on-year and quarter-on-quarter, benefitting from the ramp-up in production at Mupani Mine.
Production from Ngwarati Mine, which ceased primary operations in June this year, was successfully replaced by a combination of the ramp-up in output from pillar reclamation at Rukodzi Mine and production from Mupani Mine.
“6E head grade improved by 2 percent year-on-year and 3 percent quarter-on-quarter, benefiting from increased tonnage from higher grade stopping areas at Mupani Mine.
“Milled volumes improved by 1 percent year-on-year due to a mill-reline shutdown completed in the prior comparable period, with a 1 percent decline versus the prior quarter.
“The 3 percent and 1 percent year-on-year and quarter-on-quarter decrease in concentrator recoveries was offset by higher mill feed grade, and 6E in concentrate production increased by 1 percent year-on-year and 2 percent quarter-on-quarter,” said Zimplats.
Bongani Ndlovu