Zimbabwe Platinum will not build a platinum refinery until the country achieves an adequate level of feedstock.

While the firm supports the idea of investing in a refinery to add value to local production and increase earnings, the board will not take the risk of building a redundant plant if it does not receive assurances.

Mucha-deyi Masunda, chairperson of Zimbabwe Platinum, told Mining Weekly that it would only work if the plant could operate "24-hours a day".

"Once you stop the plant, the start-up costs are high. We are hopeful that Unki and Mimosa (the other platinum mines in Zimbabwe) will join forces [with us] so that we can get platinum from three sources. Once we do that, we can talk of a refinery," he explained.

Zimbabwe Platinum is currently expanding its operations in the country to increase platinum production to 160,000 oz a year from 2010.

It is spending $340 million on the expansion to boost production which was 96,500 oz a year in 2007.

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Zimplats will not consider building refinery until it’s assured of sustainable feedstock levels, 15/08/08
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