Zim­plats to de­cide on pro­posed por­tal re­place­ment this month

Chronicle (Zimbabwe) - - Business -

THE board of Im­pala Plat­inum (Im­plats) will con­sider the re­cently com­pleted bank­able fea­si­bil­ity study (BFS) for the po­ten­tial de­vel­op­ment of a new min­ing por­tal at its Zim­plats sub­sidiary when the study is pre­sented this month.

The pro­posed $260-mil­lion Por­tal 6 is a 2.2-mil­lion-tonne-a-year re­place­ment for the Rukodzi and the Ng­warati mines, which are be­ing de­pleted.

“Once ap­proved, the planned project will ac­cess 4.65-mil­lion 4E [plat­inum, pal­la­dium, rhodium and gold] ounces of re­serves through high-pro­duc­tiv­ity mod­ern mech­a­nised min­ing meth­ods,” out­go­ing Im­plats CEO Ter­ence Good­lace out­lined in Im­plats’ first-quar­ter pro­duc­tion re­port on Fri­day.

The three months to Septem­ber 30, saw the com­ple­tion of the BFS, as well as the start of pre­lim­i­nary early works re­lated to ac­cess­ing and ex­ca­vat­ing the box­cut po­si­tion.

The group will re­lease the full project de­tails once the com­pany’s ap­proval pro­cesses have been com­pleted. This emerged as Zim­plats con­tin­ued to ex­cel “from a health, safety and pro­duc­tion per­spec­tive” dur­ing the first three months of the cur­rent fi­nan­cial year.

Zero lost time was re­ported dur­ing the first quar­ter un­der re­view as the op­er­a­tion’s mill through­put in­creased by 5.5 per­cent to 1.7 mil­lion tonnes and plat­inum in matte pro­duc­tion in­creased by 3.6 per­cent to 68 400oz.

Zim­plats re­mains in dis­cus­sion with the Zim­bab­wean gov­ern­ment re­gard­ing its indi­geni­sa­tion im­ple­men­ta­tion plan, as well as the order au­tho­ris­ing the ac­qui­si­tion of a por­tion of the min­ing lease area, which is pend­ing in the Ad­min­is­tra­tive Court of Zim­babwe.

The com­pany con­tin­ues to en­gage the gov­ern­ment with a view to reach­ing an am­i­ca­ble res­o­lu­tion of the mat­ter, Zim­plats noted in its own pro­duc­tion re­port.

Over­all, Im­plats recorded a 20 per­cent in­crease in pro­duc­tion dur­ing the first quar­ter of the year, with gross re­fined plat­inum pro­duc­tion reach­ing 365 200 oz.

“Our growth mo­men­tum in plat­inum pro­duc­tion, which started last year, has con­tin­ued fol­low­ing a 20 per­cent in­crease in out­put over the last quar­ter,” Good­lace said.

In ad­di­tion to Zim­plats, sus­tained good op­er­a­tional per­for­mances were seen from Marula, Mi­mosa, Two Rivers and Im­pala Re­fin­ing Ser­vices (IRS).

Dur­ing the three months to Septem­ber 30, Im­pala, Marula and Mi­mosa main­tained their re­spec­tive plat­inum-in-con­cen­trate out­put at 21 200 oz and 30 500oz.

IRS’s re­fined plat­inum pro­duc­tion dur­ing the pe­riod in­creased by 18.7 per­cent to 214 500 oz, mostly as a re­sult of higher de­liv­er­ies from third party cus­tomers dur­ing the quar­ter un­der re­view. — Min­ing­weekly

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.