Zimplats spends US$1,1m on Selous complex solar project
Platinum Group-Metals (PGMs) giant, Zimplats has spent a cumulative US$1,1 million on the first phase of its 35 megawatt solar project at the Selous Metallurgical Complex with the final phase scheduled for completion in 2027 at a total cost of US$201 million.
In its quarterly report for the period ended June 30, 2023, the mining firm said it obtained a 185MW power generation licence last year.
“By the end of the quarter under review, a cumulative US$1,1 million had been spent on the first phase of the solar project, a 35MW solar plant at the Selous Metallurgical Complex and US$35,4 million had been committed, against a budget of US$37 million.
“The first phase of the project’s four implementation phases is progressing as planned, with the final phase scheduled for completion in 2027 at a total project cost of US$201 million.”
The report indicates that the Mupani and Bimha mine projects progressed as planned during the quarter under review.
Cumulatively, US$318,8 million has been spent on the projects, with an additional US$59,1 million committed against a total project budget of US$468 million.
“The smelter expansion and the SO2 abatement plant project progressed as planned during the quarter with US$112,2 million spent to date and a further US$329,3 million committed. Implementation of the base metal refinery refurbishment project progressed well during the quarter with US$10,9 million spent to date and a further US$18,4 million committed, against a total budget of US$189,9 million.”
In the period under review, mined tonnage rose by six percent from the prior quarter as the number of operating days increased from 90 in the prior quarter to 92 in the period under review and the availability of trackless mining machinery improved.
Ore mined volumes increased by four percent from the prior comparable quarter which was negatively impacted by poor equipment availability at Mupfuti Mine.
Zimplats has benefited from the commissioning of the third concentrator at the end of first quarter of 2023 and despite the impact of lower grade and regional power disruptions, the local operation delivered a five percent increase to 611 000 ounces in matte production.
In June this year, Zimplats commissioned the US$104 million concentrator in Ngezi, Mashonaland West Province.
The installation of the plant is also part of the firm’s expansion project expected to generate employment for over 2 000 people with the net benefit to Government estimated at just over US$1 billion over a five-year period.
“Ore milled increased by three percent from the prior quarter to 1,94 million tonnes and benefited from the increase in operating days and improved availability of power during the period. The third concentrator at Ngezi was commissioned in September 2022 and increased milling capacity which resulted in a 10 percent increase in milled throughput from the prior comparable quarter.”
Zimbabwe is the world’s third-largest producer of platinum after Russia and South Africa and Zimplats, Unki, and Mimosa are the country’s major producers of platinum.
PGMs output is projected to remain on a positive trajectory in view of several platinum projects that are underway. These include investments being channelled towards the mineral’s extraction by Karo Resources and Great Dyke.
Zimbabwe envisions a US$12 billion mining industry by 2023 and platinum is expected to contribute US$3 billion as production is projected to improve to 2,5 billion ounces in 2023 from 979 000 in 2018.
Gold and diamonds are expected to contribute US$4 billion and US$1 billion respectively while chrome, iron and carbon steel will contribute US$1 billion. Coal and hydrocarbons are also forecast to contribute US$1 billion while lithium is projected to generate US$500 000.
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