Zimplats commits over US$362million on major projects for Q4

The country’s biggest platinum group metal (PGM) producer Zimplats has…


The country’s biggest platinum group metal (PGM) producer Zimplats has committed a total of US$362.1 million on major projects as at 30 September 2023 as the group is geared to upgrade its operations.

Rudairo Mapuranga

According to Zimplats quarterly report for the period ended 30 September 2023, the group has committed millions of dollars to its major projects which include mine development and upgrade projects at Mupani and Bimha, base metal refinery refurbishment project, among others.

The group said that the mine development and upgrade projects at Mupani and Bimha progressed to plan during the quarter that ended 30 September 2023 with the group spending a total of US$341 million on the projects with an additional US$57 million committed against a budget of US$468 million.

“The mine development and upgrade projects at Mupani and Bimha progressed to plan during the quarter. The projects to develop Mupani Mine and upgrade Bimha Mine will replace Rukodzi Mine, which was depleted in FY2022, and the Ngwarati and Mupfuti mines, which will be depleted in FY2025 and FY2028, respectively Cumulatively, US$341million has been spent on these projects, with an additional US$57 million committed, against a total project budget of US$468 million,” Zimplats said.

According to Zimplats US$158 million was spent on smelter expansion and the SO2 abatement plant project with a further US$256 million committed against a project budget of US$521 million.

The group also said the Base Metal Refinery refurbishment project consumed US$16 million during the quarter with a further US$14.1 million committed against a budget of US$190 million.

“The smelter expansion and the SO2 abatement plant project progressed as planned during the quarter, with US$158 million spent to date and a further US$ 256 million committed against a total project budget of US$ 521 million.

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“Implementation of the Base Metal Refinery refurbishment project progressed well during the quarter, with US$16 million spent to date, and a further US$ 14.1 million committed, against a total budget of US$190 million,” the PGM group said.

Zimplats also spent US$1 million for its solar project with US$35 million committed as at 30 September against a budget of US$37 million.

“Implementation of the 35MW solar plant project progressed as planned during the quarter with accumulative US$ 1 million spent on the project to date and US$35 million committed as at 30 September 2023, against a budget of US$37 million. This is the first of the project’s four phases which will be implemented at an estimated total cost of US$2.9million to generate 185MW,” Zimplats said.



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