Harare, Zimbabwe — 24 March 2012 – Zimbabwe’s Mimosa mine “’ a joint venture between South Africa’s Impala Platinum (Implats) and London-listed Aquarius Platinum Limited “’ expects to lose 75,000t of platinum ore when it restarts production next week.
Production was suspended after a fire trapped miners,” reports Reuters, but the company revealed that it had sufficient stocks to meet its platinum output target for the month and quarter.
Around 60 miners at Mimosa’s mine in south western Zimbabwe were trapped underground on Tuesday but were brought back to the surface without injury.
Mimosa managing director Winston Chitando said in a statement that operations at the mine would resume on Monday and that production would initially average 70% during the first 19 days before hitting full capacity.
“The mining production loss during this period is estimated at 75 000t of ore which is more than covered by the current surface stockpile of about 140,000t, he added. “As a result production of platinum ounces for the month and the quarter will not be affected and is expected to be on budget.”
Mimosa produced 104,000oz of platinum group metals in its 2011 financial year.
Source: Reuters. For more information, click here.