Published: 05 November 2013

Impala platinum says it is on course to complete the Zimplats Phase 2 expansion project which is expected to increase the country's annual platinum output to 430 000 ounces.

Implats, which is a major shareholder in Zimplats, released its production report on Monday which showed that production at its Zimbabwean business unit continues to surge while the expansion project remains on course for commissioning by 2015.

According to the production update report, Zimplats' output increased 43 percent year-on-year to 1.5-million tonnes on the back of the continued ramp-up in production at the Mupfuti Mine and the treatment of additional material from the ore stockpiles.

The commissioning of the expansion project is expected to see production reaching 270 000 ounces by 2015 while at the same time pushing the national annual output to 430 000 ounces.

The 430 000 ounces, however, falls short of the 500 000 ounces required annually to support the setting up of a local smelter.

Zimbabwe has the world's second-largest platinum reserves after South Africa.

However, the resource remains underutilised with analysts projecting that at least US$5 billion is required to ramp up platinum production.
- zbc

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