Zimplats projects on course
Zimplats, the country’s largest platinum producer, says all major capital projects running into millions of US dollars under implementation progressed according to plan in the quarter ended December 31.
Zimplats capital projects are expected to be completed between this year and 2028 and are part of the miner’s US$1,8 billion expansion plan, which includes the development and upgrade of two new mines.
In its quarterly report for the period ended December 31, 2023, the mining entity gave a rundown of progress made and money spent to date.
The mining house noted that it has to date spent US$1 million on the implementation of the 35MW solar plant project with US$35 million committed as at December 31, 2023, against a budget of US$37 million.
“This is the first of the project’s four phases, which will be implemented at an estimated total cost of US$201 million to generate 185MW,” it said.
Zimplats has already started the construction of a 185MW solar plant to power up its operations.
During the first phase, the company is gearing up to install 35MW of solar capacity at the Selous Metallurgical Complex. This initial phase is expected to cost US$37 million.
The entire project, estimated to cost US$201 million, is expected to be completed in 2027. The firm now directly imports up to 70 megawatts from Zambia, ensuring stable operations and potentially boosting production.
Last year, Zimplats signed a direct import power agreement with the Zambia Electricity Supply Company (Zesco), resulting in improved power stability and availability, the mining giant said in August last year.
Another major project is the smelter expansion and SO2 abatement plant project.
To date, US$220 million has been spent with a further US$187 million committed against a total project budget of US$521 million.
It added that US$18 million has been used on the Base Metal Refinery refurbishment project with a further
US$16 million committed, against a total budget of US$190 million as at 31 December 2023.
Zimplats base metal refinery project resonates with the Government’s thrust on mineral beneficiation.
The Government has over the years been exploring possible methods of ensuring the beneficiation of minerals, with policies targeting mostly platinum, diamonds, gold and chrome mining with the intention to unlock the full potential of the mining sector.
On production update for the period, mining volumes benefited from pillar reclamation operations at Rukodzi Mine and the continued ramp-up in production from Mupani Mine, which is under development.
“This resulted in ore mined increasing by one percent and four percent from the prior quarter and the prior year’s comparable period respectively.”
Increased tonnes from pillar reclamation bolstered the 6E head grade, which increased by one percent from the prior quarter and was stable year-on-year.
It noted that ore milled was in line with mined volumes in the period and was stable quarter-on-quarter and year-on-year, with the concentrator plants performing at expected throughput rates.
On 6E metal, the final product declined by one per from the prior quarter, as a scheduled furnace shutdown resulted in an accumulation of in-process inventory in the period.
The company’s 6E metals imply platinum, palladium, rhodium, ruthenium, idruim and gold.
Metal volumes benefited from improved metal recoveries and increased by one percent year-on-year.-chronicle
