Mines Minister says government might still ban raw platinum exports

Mines Minister Walter Chidhakwa says the government might still ban the export of raw platinum if mining companies are slow to set up a refinery. Mining companies were given a two-year ultimatum to set up the refinery and it expires at the end of this year. They have committed US$100 million for the refinery but Chidhakwa says this is not enough. “I want to see real action on the ground,” he was quoted by The Herald as saying. Chidhakwa also said he was not informed about the proposed investment which was announced by the companies at the Chamber of Mines annual general meeting last week. Zimbabwe, which has the second largest platinum reserves after South Africa, currently has an upper hand over its more powerful neighbour because of a four-month strike that has crippled platinum mining in South Africa. All three major players in Zimbabwe are South-African based companies. These are Impala Platinum, Anglo-Platinum, the world’s largest platinum mining company, and Aquarius which is registered in Bermuda but has its roots in Australia. Implats has the largest operation in Zimbabwe.

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