Vusumuzi Dube
Judith Phiri, Business Reporter
Over US$1.1 billion has been invested under Zimbabwe Platinum Mines (Pvt) Limited (Zimplats)’s US$1.8 billion expansion mining programme, as the project continues to gather momentum.
This comes after Zimplats signed a memorandum of Understanding (MoU) with the Government for the implementation of the US$1.8 billion expansion programme over a 10-year period from 2021 to 2031.
Cabinet on Tuesday received and noted an update on various mining projects as presented by the Minister of Mines and Mining Development, Wiston Chitando.
In a post-Cabinet briefing, Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere said implementation of the expansion programme has deliberately been sequenced to begin with projects that unlock capacity up the value chain.
“The projects under the US$1.8 billion expansion programme include the Ngezi Third Concentrator Plant at a cost of US$104 million; the upgrading of the Bimha Mine at a cost of US$82 million; the construction of a flagship solar plant at a cost of US$201 million; the smelter expansion component at a cost of US$360 million; the extension of the SMC Tailings Storage Facility at a cost of US$25 million; and the upgrade of Mupani Mine at a cost of US$330 million,” he said.
On other key mining projects, he said the Palm River Mines and Energy targets the production of stainless steel; electricity generation of 1 000 megawatts; production of one million tonnes of high carbon ferrochrome; and production of one million
tonnes of coke.
The Minister said Palm River Mines and Energy has projects which are milestones towards the investment of US$3.6 billion which include two by 50 megawatt power stations; 100 000 closed furnace high carbon ferrochrome production; and 200 000 coke production.
Under the Second Republic, the mining sector has witnessed remarkable growth and transformation.
Zimbabwe is endowed with abundant mineral resources, ranging from gold, platinum, diamonds, and lithium, among others.
With the opening of new projects and a focused approach to economic development, the sector is poised to play a significant role in contributing to the growth of the national economy.
Online Reporter