Zim platinum producers urged to invest in refining facilities

Zim platinum producers urged to invest in refining facilities
Published: 25 July 2017
MINES minister Walter Chidakwa has called on platinum producers to invest in refining facilities, to enable the country to draw maximum benefit from its mineral resources.

In a speech read on his behalf by Industry minister Mike Bimha, at the Mining, Engineering and Transport (Mine Entra) 2017 conference in Bulawayo last week, Chidakwa bemoaned low investment in the platinum mining sub-sector.

"The platinum group metals (PGM) sub-sector has emerged a critical mineral for the country, and has remained resilient despite softening in prices on the international market," he said.

"Government is, however, concerned that value chain development in the sub-sector remains low as only concentrates and matte are produced in the country and exported in that form.

"May I, therefore, on behalf of the government, once again call on all PGM producers to invest in refining facilities in Zimbabwe in order for Zimbabwe to further unlock value form our mineral resources."

Chidakwa said they were looking forward to the timely commissioning of pre-requisite base metal refinery facilities underway at Zimplats, Mimosa and Unki mines.

He said that while local beneficiation technologies in the nickel subsector have now reached the refining stage, a lot remains to be done to optimise value chain processes to ensure stability, efficiency and effectiveness.

"Similarly, we are convinced that there is a lot of scope for value addition of the local chrome sub-sector value chain, where the capacity and scope of local beneficiation remains narrow compared to the potential that exists, particularly given the huge chrome resource already in the hands of investors in this country," Chidakwa said.

"I urge the players in that sub sector to voluntarily move in that direction, which is in line with our economic development blue print."

He said for the majority of the minerals produced in Zimbabwe, there has been a huge appetite for investment in limited parts of the mining value chain, particularly in extraction of mineral ores and immediate export of raw and semi-processed materials.

Huge gaps, therefore, remain in local beneficiation and value addition, Chidakwa said.

He said as of June 30, this year, mineral exports, excluding gold, have accrued to $777 904 million compared to $565 240 million in the same period in 2016.

Gold exports, this year, have accrued $324,06 million as of June 2.

This translates to a total mineral export value of more than $1,102 billion by June 30, Chidakwa said.

"This export value could be much more with exports of diamonds produced by the Zimbabwe Consolidated Diamond Company, that is currently stockpiling production," he said.

"This year, we have to grow the mining sector exports to $3 billion from the current $2 billion."
- newsday
Tags: Zim, Platinum,

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