Story by Theophilus Chuma
MUTAPA Investment Fund’s platinum-focused subsidiary, Mutapa Platinum, is positioning itself for strategic partnerships as it moves towards the development of large-scale mining projects in Darwendale, signalling a renewed push to unlock value from Zimbabwe’s platinum group metals (PGMs).
The company expects initial development activities to begin by the end of the first quarter of the year, starting with the extraction of mineral resources through an open-pit mining strategy.
Mutapa Platinum chief executive officer Mr Munashe Shava said the company is working with an estimated resource base exceeding 40 million ounces of platinum group metals, placing the Darwendale projects among the country’s most significant PGM assets.
He said the initial phase will adopt a modular development approach, complemented by the establishment of bulk infrastructure critical to sustained mining operations.
“We are now approaching a first modular development strategy. At the same time, we will be putting in place bulk infrastructure, road networks, water systems and all supporting services required for the execution of the open-pit strategy, all of which will take place within this quarter.”
He added that the company is at an advanced stage of discussions around collaborative arrangements for ore processing, with announcements expected in due course.
Mining and processing of ore from the open pit are scheduled to commence within the quarter, with an initial throughput target of at least two million tonnes per annum.
Mr Shava said revenue generation would largely depend on prevailing metal prices but expressed optimism that projected volumes would generate sufficient cash flows to sustain current operations while supporting the development of future underground mining activities.
“At these production levels, we are confident that the project will generate adequate cash flows to sustain the open-pit strategy and also fund the development of the underground phase,” he said.
The Darwendale projects are expected to play a key role in boosting platinum production, attracting investment and contributing to the country’s economic growth.
