Published: 18 June 2025

Zvishavane-based Mimosa Mining Company has announced plans to invest US$100 million towards the development of a new shaft aimed at extending the life of its platinum mine to 22 years. The firm, one of three platinum producers in Zimbabwe, is part of a country that holds the world's third-largest platinum reserves after South Africa and Russia.

Mimosa, which began mining in 1992—about ten years before the entry of Australia Stock Exchange-listed Zimplats and Anglo American's Unki mine—currently has only around ten years of mining reserves left on its claims.

Speaking during a tour of the operation in Zvishavane, Mimosa General Manager Steve Ndiyamba revealed that exploration of the North and South Hill claims, which form part of the new shaft development project, has been completed. He emphasized the importance of the investment for prolonging the mine's productive lifespan.

"We need to invest about US$100 million into North Hill to get another 12 years," Ndiyamba said. "If we explore and investigate other ore bodies and find value, we may get an additional 10 years. So, we are looking at about 30 years. We have drilled North Hill and know what is there. We know what is in South Hill — that will take us to 22 years. Beyond that, more work is needed, but first, we need to spend on North Hill to extend the lifespan from 10 years to 22 years."

On government's push for platinum miners to establish domestic refineries to improve transparency and accountability, Ndiyamba expressed full support. The Zimbabwean government has long voiced dissatisfaction over miners not fully declaring all by-products processed in South Africa.

Mimosa faces challenges related to diminishing resources. Ndiyamba explained that while the company has explored local beneficiation, the economics are difficult given their resource size.

"Around 2016 and 2017, we conducted a bankable feasibility study to set up a smelter here, estimating costs between US$80 million and US$100 million," he said. "However, Mimosa only controls about 4% of the Great Dyke mineral belt and is the oldest mine. With just 10 years of reserves left, investing US$100 million in a smelter is not viable because the investment cannot be recovered within that timeframe."

Despite this, Ndiyamba confirmed that Mimosa remains open to collaborating with other miners on in-country processing facilities. "Where there are domestic processing plants, we are prepared to join forces with others to ensure local beneficiation," he said.

The new investment underlines Mimosa's commitment to sustaining platinum production in Zimbabwe and supporting the government's goals of enhancing the country's mining sector value chain.
- newsday

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