Zimplats completes feasibility study for base metal refinery
ZIMPLATS Holdings (Zimplats) says it completed the feasibility study for the Selous base metal refinery (BMR) during the year to June 30, 2022.
Under its US$1,8 billion capital expenditure investment, the Australia Stock Exchange-listed miner, is refurbishing the mothballed base metal refinery, to further beneficiate converter matte at a budget of US$100 million.
According to the company’s 2022 integrated annual report, a number of various projects are currently underway and at different stages of implementation.
“A significant amount of work was completed during the year at a total cost of US$3,7 million out of a total project budget of US$6,8 million,” it said.
Zimplats, the country’s largest platinum group metals (PGM) producer in its annual report, said it invested US$2,2 billion between 2002 and 2022 on mine expansion and maintaining operations.
The platinum mine operates five underground mines, which supply ore to three concentrator modules (two at Ngezi and the third one at Selous).
Production from the mining operations is processed by the three concentrators and further refined at the Selous Metallurgical Complex (SMC) where the smelter is located.
According to the annual report, a number of projects are currently underway and at different stages of implementation.
These include development of Mupani Mine, the replacement mine for Rukodzi in financial year 2022 and Ngwarati Mine in financial year 2025 and is ahead of schedule.
The platinum miner said the implementation of SMC Concentrator TSF (Tailings Storage Facility) Project to sustain the operation at the termination of the existing TSF when it reaches its maximum design height of 43m is currently ongoing.
Overall, Zimplats said in the last 20 years it utilised US$10 billion with procurement costs accounting for 39 percent of the utilised funds at US$3,9 billion.
Employment costs amounted to US$878 million, a 9 percent, dividends paid to Zimplats Holdings Limited US$739 million, an 8 percent and loan principal and interest payments valued at US$510 million, which is 5 percent.
The platinum company has also been a major source of Government revenues. During the period, payments to the Government through income tax, additional profits tax, royalty, customs duties, pay-as-you-earn and withholding tax amounted to US$1,7 billion.
Overall production for the year, at 7 061 320 tonnes, was 1 percent lower than prior year driven mainly by production interruption at Mupfuti Mine.-ebusinessweeky
