Home » Business » Zimplats Conducts Study for New Mine

The country’s largest platinum miner Zimplats is conducting a bankable feasibility study for its new Portal 5 mine scheduled for completion by 2019.

Exploration stage for the new mine has been completed and Zimplats is still evaluating the actual cost of the mine but sources close to the development estimate the cost to be in the same region with the current phase two project which cost over US$460 million.

Zimplats currently operates four mines in Ngezi namely Mupfuti, Rukodzi, Bimha and Ngwarati and the opening of a new mine is

set to complement Rukodzi Mine which is now old.

Zimplats head of corporate affairs Ms Busi Chindove confirmed the development.

“We are confident of economic recovery in Zimbabwe and in the platinum mining industry and are committed to making additional long-term investment into the country.

“Right now the company is in the process of conducting a bankable feasibility study for the Portal 5 mine,” said Ms Chindove.

“We would then need to seek board approval for the project and we hope to have it completed in 2019.Portal 5 project is guided by our strategy to fully utilise the mineral claims under our control.”

She said the mine will produce 2,2 million tonnes of ore per year at full capacity.

The output of the new mine will serve as replacement tonnage but it will have no impact on current production. In other words it will allow Zimplats to maintain current production levels.

The platinum miner is in the process of completing phase two of its project that is set to be commissioned in 2015.

“We are making good progress on the Phase 2 project and developments have been in line with the Zimbabwe Agenda for Sustainable Socio-Economic Transformation blueprint clusters of Infrastructure development, utilities and value addition,” Ms Chindove said.

The mining company has since improved from the 4,2 million tonnes of ore milled per annum to reach the maximum of 6, 2 million tonnes per annum, recording a two million-tonne growth and phase two concentrator has achieved design capacity.

Phase 2 project witnessed the mushrooming of a significant housing development project, Turf Village, which will see 2,000 employees receiving homes when the project is completed in 2015.

In addition, mine development at another new Mupfuti mine is on schedule with full production anticipated from March 2015. The new 30 500ml Island Dam has been completed including the water distribution infrastructure.

Source : The Herald