10 days

Zimbabwe’s platinum miners have been given 10 days from today to submit proposals for the establishment of a refinery in the country. The government intends to ban the export of raw platinum at the end of this year and started levying 15 percent on export of raw platinum at the beginning of this month. Mining companies were given two years to establish a refinery last year but argued that local production is too low to justify the setting up of a refinery. Current platinum output is about 430 000 ounces a year. Mining companies have said this needs to be at least 500 000 ounces to justify the establishment of a refinery which requires an investment of at least US$3 billion.

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