Zimbabwe economic news: Anglo Platinum, TN Holdings and Ministry of Mines IT upgrade
Unki to begin production 1Q2011
The Unki Mine is expected to begin production early next year. The Anglo Platinum-owned mine is located in the Midlands province. Testing of equipment has already commenced and is expected to be completed by the end of the year.
The mine has an initial capacity to process 5 000 tonnes of ore per day, and Anglo has already invested roughly $450 million in the project. The expected output from the mine is 65 000 ounces per year. – The Herald
TN Holdings
TN Holdings has recently acquired a foam plant for its furniture manufacturing divi-sion at a cost of $280 284. Commissioning of the plant is scheduled for April next year, and is expected to improve the group's ability to supply beds to the market. TN Chairman, Harry Kantor, said that the foam plant will remove bottlenecks and increase capacity utilisation at TN Harlequin Luxaire (the company's furniture divi-sion).
Other bottlenecks include the supply of wire, leather, hard and soft wood, forcing the company to rely on imports to meet their needs. Kantor added that TN would invest in spring-making and assembling machines in the first half of next year. By 30 June this year, production capacity had risen to 75% from just 18% prior year following a recapitalisation exercise. - NewsDay
Mines Ministry gets IT upgrade
The World Bank has unveiled a $2 million fund aimed at computerizing the geologi-cal department at the Ministry of Mines and Mining Development.
The project will allow the Ministry to “air peg” claims and update their maps, thus reducing the time necessary for the processing of an application for a claim and aligning the Ministry’s capability with international standards. – The Sunday Mail