On operations, the group achieved a record ore production of 7 million tonnes in FY2017 compared to 6.6 million tonnes in the previous year which the company said was made possible by the redevelopment of Bimha Mine, which contributed production of 916 000 tonnes (FY2016: 442 000 tonnes).
Zimplats said it was scaling down production at Ngwarati and Rukodzi mines as planned as Bimha and Mupfuti mines ramp up to design capacities.
A total 6.7 million tonnes of ore were milled in the year compared to 6.4 million tonnes milled in the previous period and this was largely due to good plant running time achieved over the year and improved ore supply from the mines but production of platinum in converter matte decreased by 2 percent to 262 871 ounces in line with the decrease in furnace throughput.
In terms of capital projects, the Ngezi Phase 2 expansion project is now complete with total expenditures to date, including commitments, of $458 million as at 30 June.
The Selous Metallurgical Complex Base Metal Refinery refurbishment project remains constrained by cash flow challenges arising from depressed metal prices, the company added.
The total project expenditure as at 30 June 2017 was $23.4 million.-The Source
(94 VIEWS)
This post was last modified on August 31, 2017 12:42 pm
Page: 1 2
Africans must now tell their own stories because if they continue to denigrate themselves they…
Quarterly taxes, which are due next month, will force businesses to sell a quota of…
Zimbabweans will soon be able to change their ZiG to United States dollars and vice-versa…
Senator Sengezo Tshabangu yesterday expressed dismay at the pace at which the government is constructing…
Zimbabwe has ordered providers of goods and services to use the official exchange rate or…
Zimbabwe is going to introduce legislation which ensures that the country uses one exchange rate…