PLATINUM producer Zimplats has spent US$443 million during the quarter to June this year towards major capital projects, including the development of Mupani Mine and Bimha Mine upgrade as part of its expansion programme..
In its quarterly report for the period ended June 30, 2023, the platinum miner said the Mupani and Bimha mine projects progressed as planned during the quarter.
Cumulatively, US$318,8 million was spent on these projects, with an additional US$59,1 million committed, against a total project budget of US$468 million.
It said the smelter expansion and the sulphur dioxide (SO2) abatement plant project progressed as planned during the quarter with US$112,2 million spent to date and a further US$329,3 million committed.
In the financial year 2022, Zimplats obtained a 185MW power generation licence. By the end of the quarter under review, a cumulative US$1,1 million had been spent on the first phase of its solar project, a 35MW solar plant at the Selous Metallurgical Complex, and US$35,4 million had been committed, against a budget of US$37 million.
“The first of the project’s four implementation phases is progressing as planned, with the final phase scheduled for completion in FY2027 (financial year 2027), at a total project cost estimate of US$201 million,” it said.
Zimplats said implementation of the base metal refinery refurbishment project progressed well during the quarter with US$10,9 million spent to date, and a further US$18,4 million committed, against a total budget of US$189,9 million.
Exploration activities during the quarter related mainly to surface diamond drilling to upgrade the group’s mineral resources, geotechnical assessments of the rock mass properties and collecting samples for geo-metallurgical test work to support current and future mining operations in Ngezi and the technical studies underway at Hartley.
Source Newsday
