…as it set up a Base Metal Refinery
The Zimbabwe Platinum Mines (Zimplats) (Pvt) Ltd, has been lauded for taking steps toward value addition and beneficiation, by setting up a Base Metal Refinery (BMR) that will be commissioned in June 2024.
Economic analyst, Abednigo Matsika commended the commitment taken by Zimplats to set up a BMR, while pointing out its significant contribution toward Vision2030.
“The refinery is expected to produce nickel, copper cathode, Platinum Group of Metals (PGMs) concentrates and selenium tellurium, metals of which previous where sold as part of ore. This will bring in more foreign currency for the company and for the country.
“In addition, the project will create direct employment for 150 people and 1500 indirectly, which resonates with President Mnangagwa’s Vision 2030 of an Upper Middle Income Society by 2030” said Matsika.
According to a source within Zimplats, the project will soon be complete since the company is up to date with payments toward the completion of the project.
“In terms of capital expenditure, the company has since spent US$23.4 million of the US$200 million required to complete the project.
“The already incurred capital expenditure covered engineering and process designs, establishment of contractors’ camps, bulk earthworks to house boilers, oxygen injection plant, procurement and delivery or key equipment such as broilers, nickel sulphate, crystalizer, water treatment plant and cooling towers,” said contact.
Meanwhile, the project designs are expected to be completed by August 2022, and when the completed project is commissioned in 2024, it will result in increased revenue as the PGMs will increase in value after each level of processing.