Notwithstanding the economic and political instability in Zimbabwe, ASX-listed Zimplats and its parent company, Impala Platinum, have not lost confidence in the country’s mining sector.
The board of directors of both entities has approved the development of the $264 million Mupani platinum mine in Zimbabwe, when most people thought the company would put on hold plans to develop projects.
The project is being pursued with a long term view in mind. In the coming years, the ore at Rukodzi and Ngwarati will be depleted.
According to Zimplats, the scope of early project work includes the box cut and constructing the main access road, project offices and essential infrastructure.
The project’s main underground access infrastructure will take about 37 months to complete. Mining activity will commerce early 2021.
The project, which will have a mine life of about 34 years, will reach its design capacity by 2025. It is expected to increase Zimplats mineral reserve from six million ounces to nine million ounces.
With an envisaged production of 2.2 million-tonne-a-year underground, the mine will employ about 1000 staff at full production.
Sourced from Reuters and edited for African Mining Brief Online