HomeNewsZimbabwe platinum project to produce by 2012

Zimbabwe platinum project to produce by 2012

CAMEC’s Luita copper
operation in the DRC
– the biggest under
-roof facility of
its kind in Africa
 
London, England — MININGREVIEW.COM — 09 July 2009 – AIM-listed Central African Mining & Exploration Company Plc (CAMEC) “’ an Africa-focused emerging mining company “’ has announced that its Bokai platinum prospect in Zimbabwe contains a significant precious metal resource, pushing the company’s shares up 13%.

Revealing this in a statement released here, the company confirmed that the prospect contained combined mineral resources of 91.32 million tonnes of sulphide ores, grading 3.64 g/t of 4E, and containing 10.69 million ounces of 4E, as well as significant base metal credits.

The statement added that estimated Stage 1 reserves would support production of 163 000 ounces a year of platinum group metals (PGMs) in concentrate over a 20-year mine life, while Stage 2 development was expected to double PGM production.

“These results confirm a significant resource at Bokai, and demonstrate the considerable potential for economic recovery of this platinum resource,” said chief executive Andrew Groves. “We expect to bring Bokai into production by 2012, with construction on the mine likely to begin this year."

Bokai is 100% owned by Todal Mining (Private) Limited a 40:60 joint venture between the Zimbabwe Mining Development Corporation and CAMEC.

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