Harare – Platinum mining company Implats Platinum (Implats) is planning to boosts output at its jointly held Mimosa mine in Zimbabwe by 30 percent as it bets on a long term shift in platinum-group metals (PGM), group CEO Nico Muller has said.

Mimosa is jointly held by Implats and Sibanye. It is located on the Wedza Geological Complex on the Zimbabwean Great Dyke, 150 kilometres east of Bulawayo. Mimosa comprises a shallow underground mine, accessed by a decline shaft, and a concentrator.

Mimosa contributes 8 percent to the Group’s platinum production. During the six months ended 31 December, 2018, Mimosa contributed a total of 132 000 ounces of PGM in concentrate, which was a decrease of 1.4 percent from 134 000oz produced in the prior period in 2017.

The unit however, managed to record a 7 percent growth in revenue from R1.9 million achieved in the prior year to R2.3 million in the six months ended 31 December, 2018.

Addressing reporters in Johannesburg, Muller also announced plans to start building a new palladium mine expected to start production as soon as 2024 as the group remains optimistic that market for metals will continue on a positive trend.

“I believe the change in PGMs is structural and not cyclical, so we are fully confident that the buoyant market we see today is going to prevail for the next ten years,” he said.

“When you contemplate a project like this, you have to have a long range view and we have a very bullish position at the moment.

Implats also has 87 percent controlling stake in Zimplats which is situated on the Zimbabwean Great Dyke and operates four underground mines and a concentrator at Ngezi.

The Selous Metallurgical Complex (SMC), located 77 kilometres north of the underground operations, comprises a concentrator and a smelter. It contributes 18.1 percent to the Group’s platinum production.

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