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Oliver Kazunga, Senior Business Reporter
ZIMBABWE’S largest platinum miner, Zimplats, has approved a US$1,8 billion major capital expenditure project to be implemented over a 10-year period beginning this year with US$1,2 billion already approved for implementation.
In a latest statement, Zimplats said the projects include those that were already in the process of being approved.
“Zimplats is pleased to announce that the board of directors has approved an overall capital investment strategy with a budget of US$1,8 billion to be implemented over a 10-year period beginning in 2021, with US$1,2 billion already approved for implementation,” said the company.
The funding for the planned capital investment would be raised from internal resources while the projects would focus on maintaining existing production levels through mine replacements and upgrades where a total of US$516 million will be spent.
The platinum giant hopes to expand production levels through growth projects including the development of a new mine and increased processing capacity, which would boost nameplate capacity from 6,7 million tonnes per annum to 8,8 million tonnes annually and in-country capacity to 380 000 tonnes of concentrate per year.
Zimplats also plans to establish an abatement facility to mitigate sulphuric dioxide emissions emanating from the existing and expanded smelting capacity with a total project cost of US$969 million.
Refurbishment of the mothballed base metal refinery to further beneficiate converter matte has been budgeted and approved at US$100 million. – @KazungaOliver.
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