Zim­plats plans for mine de­ple­tion

Chronicle (Zimbabwe) - - Business Chronicle -

THE Zim­bab­wean unit of Im­pala Plat­inum Hold­ings Ltd., the world’s sec­ond-big­gest pro­ducer of the metal, plans a new mine to re­place older op­er­a­tions.

Por­tal 6 will re­place the Rukodzi and Ng­warati mines, which de­plete in 2022 and 2025 re­spec­tively, Zim­plats Hold­ings Ltd. said in an e-mailed re­sponse.

The full de­sign work and bank­able fea­si­bil­ity study are at an ad­vanced stage and will be sub­mit­ted to the com­pany’s board in Au­gust for ap­proval, it said. The por­tal has a life of 34 years and would em­ploy about 800 full-time em­ploy­ees and 200 con­trac­tors.

Once Por­tal 6 is op­er­a­tional, Zim­plats will pro­duce 260 000 ounces of plat­inum and 220 000 ounces of pal­la­dium for more than 30 years, it said.

Zim­plats, which is 87 per­cent owned by Im­pala, will process the mined ore into smelted matte at the Ngezi fa­cil­ity, which was re­cently up­graded, it said. Zim­babwe has the world’s big­gest plat­inum re­serves af­ter neigh­bour­ing South Africa.— Bloomberg.

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