• Fri. Apr 19th, 2024

Zim’s platinum output surpasses 500 koz milestone for first time

By Stephen Chandisareva

HARARE – Platinum production in Zimbabwe rose 6% to 507 000 ounces in 2023 from 480 000 ounces in 2022, reflecting positive developments and increasing competitiveness in the global platinum market, the World Platinum Investment Council’s (WPIC) latest report shows.

While the exact comparison with other countries may vary, this achievement highlights Zimbabwe’s increasing significance in the global platinum market and its ability to expand production through operational improvements and project developments.

“Zimbabwe’s production continued its steady increase, surpassing the 500 koz milestone for the first time.

“The country benefits from operational stability, mechanised mining methods, resulting in fewer safety stoppages, and stable workplace relations.

“The realisation of volumes from the commissioning of the third concentrator at Zimplats and the Unki concentrator debottlenecking project contributed to the record production,” WPIC stated.

In Q4 2023, the southern African nation’s platinum output increased by 8% to 133 koz from 123 koz in Q4 2022.

“Zimbabwe’s quarterly production rose by an estimated 8% year-on-year, reaching an all-time high of 133 koz.

“All three of the country’s operations demonstrated year-on-year growth, with Unki accounting for the bulk of this through increased throughput and head grade,” reads the report.

Zimbabwe’s production is poised to maintain its “long-term stability, with minimal changes” expected on a year-on-year basis.

This growth rate indicates a positive trend in Zimbabwe’s platinum mining sector and highlights the country’s efforts to enhance its production capacity and output levels.

By ETimes

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