platinum implats

Implats has advised that Zimplats will release to the government land measuring 23 903 ha within Zimplats’ mining lease area in support of the government’s efforts to enable participation by other investors in the platinum mining industry in Zimbabwe.

Implats has regularly kept the market informed of developments with regard to the Government of Zimbabwe’s intention to compulsorily acquire land measuring 27 948 ha within its subsidiary Zimplats’ special mining lease area.

Following this release of ground, the company now holds two separate and non‐contiguous pieces of land measuring in aggregate 24 632 hectares.

Consequently, the operating subsidiary applied for and was granted with effect from 31 May 2018, two separate mining leases over the two pieces of land measuring 6 605 hectares and 18 027 hectares, respectively.

The smaller area hosts the historical Hartley mining area and Selous Metallurgical Complex, while the other hosts the Ngezi mining operations, including the future portal 10 mining area.

These mining leases replace the special mining lease held by the company, which was due for renewal in August 2019.

The two mining leases issued to Zimplats’ operating subsidiary are valid for the life of mine of Zimplats’ mining operations and secure the operating subsidiary’s mining tenure.