Zimbabwe is witnessing a revival in its mining sector, with major companies committing to a number of significant platinum projects, Reuters reports.

The country has long been an attractive target as it contains the world's second-largest deposit of pgms in the Great Dyke Formation, which stretches about 550km.

Anglo Platinum, the world's largest producer of the precious metal, has confirmed that its Unki mine will be launched in October, with potential output of 65,000 oz per year.

Impala Platinum announced recently that its Zimplats subsidiary will press ahead with a $500 million expansion at Ngezi, which is the largest mine in the country.

The number two producer expects the project to improve its annual output by approximately 50 per cent to 270,000 oz of platinum.

Impala is also developing a 50-50 joint venture with Aquarius Platinum, the world's fourth-largest platinum producer, at the Mimosa mine.

The facility is expected to offer output of 200,000 oz pgm in the financial year to June, representing an impressive rise of 20,000 oz from the previous 12-month period.

Meanwhile, Kazakh miner Eurasian Natural Resources Corporation has a 60 per cent stake in the Bokai platinum project, which is currently undergoing a feasibility study.

The first stage of the development should see 163,000 oz of pgms produced in concentrate per year.

Zimbabwe is second only to South Africa - where all major mining companies have several operations - in terms of the exploration and production opportunities it boasts.

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Companies in Zimbabwe's revived mining sector (30/06/10)

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