Zimbabwe platinum mining firms eye project expansion

By Stanely James Business Editor

ZIMBABWE’s platinum mining industry is expected to increase production on the back of three new projects and expansion by the existing producers.

 Platinum mining is expected to play an important role in the achievement of a 12 billion United States dollar mining economy by 2023.   

Mines and Mining Development Minister Honourable Winston Chitando provided an update on the preparedness of three new entrants in the industry and their effects on overall production volumes.

“We are confident of the current production targets remember the sector has been on an expansion drive which we hope shall have a positive bearing to our quest for increased production,” he said.

Institute of Mining Research chairman Mr Lyman Mlambo believes the sector needs enough resources to set up a base metal refinery.

 “It costs a lot and more money will be needed so the plan depends on how much we can raise and what we can do as a nation in terms of production capacity,” he said.  

The parliamentary portfolio committee on mines and mining development has also pledged commitment to monitor and evaluate platinum production.

“We just need realistic targets so that as a nation we cannot go to the contrary but this is subject to the availability of the relevant resources,”  he said.

The platinum mining industry is this year also expected to play an important role in the generation of foreign currency from exports.

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