Zimplats backs Zimbabwe with new metal processor

Written by Editor Friday, 21 May 2010 12:24

"The facility will be the first metal refinery plant in Zimbabwe."

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Platinum mining giant Zimplats (ASX:ZIM) on Thursday announced plans to set
up a metal refinery plant in Zimbabwe as part of a half-billion-dollar
expansion programme.
   
The facility will be the first metal refinery plant in Zimbabwe, home to
the world's two biggest platinum miners.
   
"Zimplats remains fully committed to the development of its resource
base for the benefit of the country and all its stakeholders," the company,
a subsidiary of South Africa's Implats, said in a statement.
   
"In addition, Zimplats is also considering a large-scale investment that
will result in the establishment of refinery facilities in the country."
Zimplats made the announcement despite uncertainty following the signing
into law by President Robert Mugabe of new regulations compelling foreign
firms to cede 51 percent shareholding to locals.

Zimplats Holdings Limited is engaged in the production of platinum group metals from its reserves and resources on the Great Dyke in Zimbabwe.

Its subsidiaries include Hartley Platinum Mines Limited, Mhondoro Holdings Limited, Matreb Investments (Private) Limited, Mhondoro Mining Company Limited, Mhondoro Platinum Holdings Limited and Ngezi Platinum Limited.