• Tue. Jul 16th, 2024

Unki PGM output up 27% in first 9 months

ByEconomic Times

Oct 28, 2022

By ETimes

Anglo American said on Thursday that Platinum Group Metals (PGMs) output at its Shurugwi-based mine, Unki, rose 27% to 179 500 ounces in the first 9 months of 2022 from 141 400 in the comparative period last year.

PGMs consist of 5E+Au (platinum, palladium, rhodium, ruthenium and iridium plus gold).

The Anglo-American owned platinum producer mine is one of the country’s three platinum producers, along with Zimplats and Mimosa Mine.

Unki’s Q3 2022 PGM production, at 59 900 ounces, was 41% higher when compared to 42 600 ounces in Q3 2021, underpinned by improved mining efficiencies.

However, third quarter production was down 10% from the 66,300 ounces realised in the previous quarter.

The World Platinum Investment Council expects the country’s platinum production to be 465 000 ounces in 2022. In 2021, the country’s platinum output stood at 485, 000 ounces.

Zimbabwe is envisioning a US$12 billion mining industry by 2023. Of the US$12 billion, platinum will contribute US$3 billion.

The mining industry’s optimism for 2022 is still supported by current capacity expansion efforts and the forecast for commodity prices. The greatest challenges to the sector’s future growth are still capital restrictions, legislative changes, and power outages – Harare

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