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Platinum Group of Metals (PGM) producer, Mimosa Mining Company, has shelved plans to build a US$70 million refinery plant at the Zvishavane premises for local beneficiation of the minerals after feasibility studies showed the investment would be uneconomic.
Zvishavane-based platinum mine, Mimosa, is set to increase its production to 270 000 tonnes per month from 230 000 tonnes which the company is producing.
Zimbabwe’s platinum miners, represented by the Chamber of Mines have engaged government over the omission of platinum export tax in the 2015 Finance Bill gazetted two weeks ago.
HARARE – Impala Platinum Holdings Limited (Implats)’s Zimbabwean unit Zimplats says government has not yet responded to its objection to the compulsory acquisition of its 28 000 hectares of land. The grabbed land represents nearly half of the miner’s claims.
IMPALA Platinum (Implats), the world’s second largest platinum producer, sounded a confident note in its full-year results announcement today paying a final dividend and targeting one-fifth growth in production from its flagship Rustenburg operations by 2018.
HARARE – Zimbabwe’s announcement that several multinational companies had a 14-day ultimatum to submit “acceptable indigenisation proposals” has caused panic among foreign investors.
Zimbabwe yesterday made public radical regulations forcing foreign mining companies to sell majority stakes to blacks by September this year, sending shares in miners with local operations tumbling amid jitters their businesses could be nationalized.
Gone are the days when Zimbabwean footballers were ranked as some of the worst paid people in the country. The emergence of cash rich clubs like Zvishavane-based Mimosa has changed the game completely.