Impala 'could produce more platinum' in Zimbabwe than South Africa 20th February 2009
Impala CEO David Brown believes that the company's platinum output in Zimbabwe could one day easily surpass its South African production levels, Mining Weekly Online reports today (20th February).
The company, which is the world's second-largest producer of platinum, currently employs around 50,000 people in the country through its Zimplats and Mimosa operations.
Mr Brown has explained that although it is "too soon" to judge how the new government of national unity develops, he firmly believes that Zimbabwe has great potential for Impala.
He told the news provider: "We have a significant resource in Zimbabwe and, with the right investment climate and with economic stability in that country over a long period of time, Zimbabwe could easily be as big, if not bigger, than our South African operations.
"To be a million-ounce platinum producer in Zimbabwe is still our long-term vision, but quite clearly the investment climate and the economic conditions in Zimbabwe have precluded us from making additional investments to expand at this particular point in time."
Mr Brown's comments come after Zimplats confirmed this week that it saw pgm output increase by 15 per cent in the six months to December, a figure he describes as an "outstanding performance".
The results also showed that Zimplats is set to hit full refined platinum production of 180,000 oz per year in the 2010 financial year, while production at Mimosa was up to 34,000 oz of platinum in concentrate.
Furthermore, optimisation has been finalised and a steady-state production of 100,000 oz will be attained this year.
Source:
Zimbabwe platinum output could easily exceed SA's - Implats (20/02/09)
The company, which is the world's second-largest producer of platinum, currently employs around 50,000 people in the country through its Zimplats and Mimosa operations.
Mr Brown has explained that although it is "too soon" to judge how the new government of national unity develops, he firmly believes that Zimbabwe has great potential for Impala.
He told the news provider: "We have a significant resource in Zimbabwe and, with the right investment climate and with economic stability in that country over a long period of time, Zimbabwe could easily be as big, if not bigger, than our South African operations.
"To be a million-ounce platinum producer in Zimbabwe is still our long-term vision, but quite clearly the investment climate and the economic conditions in Zimbabwe have precluded us from making additional investments to expand at this particular point in time."
Mr Brown's comments come after Zimplats confirmed this week that it saw pgm output increase by 15 per cent in the six months to December, a figure he describes as an "outstanding performance".
The results also showed that Zimplats is set to hit full refined platinum production of 180,000 oz per year in the 2010 financial year, while production at Mimosa was up to 34,000 oz of platinum in concentrate.
Furthermore, optimisation has been finalised and a steady-state production of 100,000 oz will be attained this year.
Source:
Zimbabwe platinum output could easily exceed SA's - Implats (20/02/09)
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