Home Economy Zimbabwe’s biggest platinum mine rides out COVID-19 pandemic

Zimbabwe’s biggest platinum mine rides out COVID-19 pandemic

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Zimbabwe’s biggest platinum miner Zimplats said Monday its operations were not affected by the COVID-19 pandemic as it posted a 38 percent increase in revenue to 868, 912 U.S. dollars for the full year ending June 30.

   Total production of 6E (six elements) consisting of platinum, palladium, rhodium, gold, ruthenium and iridium also rose marginally from 579,591 ounces in 2019 to 580,178 ounces in the full year to June 2020.

   “The COVID-19 mitigation measures implemented have so far been successful as the Group did not record any positive cases among its employees and contractors during the year,” Zimplats said.

   “The Group’s operations were not affected by the COVID-19 pandemic as all the mines and the processing plants continued operating throughout the year with no confirmed cases within the workforce.”

   Zimplats is owned by South Africa’s Implats, one of the world’s largest platinum miners.

   Zimplats said its mining operations performed very well during the year, producing 7.2 million tons from 6.7 million tons last year while milling output rose to 6.8 million tons from 6.5 million tons last year.

   Zimbabwe registered a steady growth of platinum production in the first quarter of 2020, with output rising to 118 ounces from 113 ounces recorded in the same period last year.

   This was attributed to higher output from Zimplats and Unki, another major platinum miner in the country.

Platinum is Zimbabwe’s second largest mineral foreign currency earner after gold.

XINHUA

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