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Zimbabwe’s platinum miner to invest $264M in new mine
New African investment Zimbabwe’s platinum miner Zimplats is planning to invest "$264 million in the development of a new mine (Mupani Mine) to replace Rukodzi and Ngwarati mines which will be depleted in FY2022 and FY2025 respectively," the company said in its annual report for 2017.
Currently, Zimplats operates four underground mines and one open pit mine which supplies ore to its htree concentrator modules. Of these, two are based in Ngezi, and a third one is located in Selous.
In 2017, Zimplats mined some 7 million tonnes of ore, an increase of 6% compared with a year earlier.
Zimplats is registered in Guernsey and listed on the Australian Securities Exchange (ASE). The company is an offshoot of South African-based Impala Platinum Holdings which is responsible for about 25% of the global platinum output, according to data released by Zimplats.