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Zimbabwe’s platinum mining giant, Zimplats Holdings Ltd, is facing a double whammy of a declining global market for platinum and a deteriorating economic situation in Zimbabwe, forcing them to begin voluntary retrenchments today.
Doves Funeral Assurance has lost a US$$4 195 543 lawsuit against Zimplats after High Court judge, Justice Amy Tsanga ruled that there was a non-existent contract between the two companies. The dispute between Doves and the platinum mining giant started after Zimplats cancelled the tender it had awarded Doves to provide funeral cover for its more than 2 000 workers in early 2013.
Platinum giant, Zimplats allegedly bribed chiefs who preside over Mhondoro Ngezi, Chegutu and Zvimba, with boreholes in order to fast-track its plans to withdraw the community share ownership trust without consulting the local people who are supposed to be beneficiaries according to the provisions of the indigenisation laws.
Platinum giant, Zimplats is reportedly working on withdrawing the community share ownership trust without consulting the local people of Mhondoro Ngezi, Chegutu and Zvimba who are supposed to be beneficiaries according to the provisions of the indigenisation laws. There are allegations that Zimplats bribed chiefs in the area to facilitate the move to withdraw the community share ownership trust.
Zimplats is a big investor in Zimbabwe’s mining sector, accounting for a bigger portion of the country’s platinum output. Implats also has an investment in Mimosa mine, which it jointly owns with Sibanye Stillwater.
Zimbabwe’s biggest platinum producer, Zimplats, plans to set up two solar power projects with a combined generation capacity of 185MW. The planned solar plants would provide power to the company’s operations in Mashonaland West province.
Platinum mining group, Implats, says it is undertaking feasibility studies to set up a fourth concentrator at Zimplats ahead of envisaged increased output from Bimha Mupani mine expansion projects.
An employee of one of Zimplats’ contractors died yesterday from injuries he sustained when a high wall collapsed at the entrance of Ngwarati Mine in Mhondoro-Ngezi.
Platinum giant, Zimplats, has spent US$1,2 million in exploration activities during the quarter ended September 30, 2020 while ore mined increased by two percent.
Platinum giant, Zimplats, recorded a net profit of US$261 839 for the financial year ended June 30, 2020, an 81 percent increase compared to the same period last year.