Platinum smelting project gets shareholder approval

By Business Editor
ZIMBABWE’S largest platinum miner, Zimplats is investing half a billion United States dollars in a smelting project as part of efforts to meet the targets of full scale local beneficiation within the next two years.
The holding company for local platinum mining firm, Implats, has revealed that it is forging ahead with the project in line with its ten year strategic plan.
The plan is expected to result in the local platinum mining company halting the export of platinum concentrates to South Africa, thereby saving huge sums in foreign currency.
The development was confirmed by Implats Chief Operating Officer, Mr Gerhard Potgieter.
“One of the reasons why we have agreed to increase that capacity in Zimbabwe is that Zimbabwe is our playground, we know how to mine there, we know how to make money there, so it just makes sense for us to also beneficiate there,” he said.
The country’s vast platinum reserves have also seen the company pledging to continue operating in Zimbabwe.
“Therefore we shall continue to focus on viable opportunities and see to it that we get the real value of returns,” he added.
In the National Development Strategy One document, the Government insists that moving up the value chain of platinum will ensure that Zimbabwe benefits more from the commodity through job creation and foreign currency earnings.