Aquarius Platinum Limited and Impala Platinum Holdings Limited are assessing whether or not they should sink a second shaft to expand production at their Mimosa platinum mine in Zimbabwe.
Revealing this in an interview with Bloomberg News at the mine, which is 300km south-west of Harare, chairman Winston Chitando said: “We are in the process of undertaking a feasibility study. “There is work taking place in assessing various options,” he added, declining to give further details.
Mimosa is one of three operating platinum mines in Zimbabwe, which has the second-biggest reserves of the metal after South Africa. Zimbabwe Platinum Mines Limited, a unit of Johannesburg-based Impala, and Anglo American Platinum Limited also run mines in the country. Mimosa produced about 218,000oz of platinum group metals in its last financial year.
By law, mining companies operating in Zimbabwe must sell or cede 51% of their local assets to black citizens of the country or the government. “There are discussions which are taking place with government,” Chitando said. “So far we are happy with them.”
Source: Bloomberg News. For more information, click here.