JOHANNESBURG Nov 30 South Africa's Impala
Platinum Holdings Ltd (Implats) and Zimplats'
board have approved the development of the $264 million Mupani
Mine, which will increase the Zimbabwe unit's mineral reserves,
the company said on Wednesday.
* Implats said in a statement that the mine has a design
capacity of 2.2 million tonnes per annum by 2025 and will
increase Zimplats' mineral reserves by 3 million ounces to 9
million ounces of platinum.
* The first mining teams will be deployed in January 2021.
* The mine will employ 1,000 full-time employees at full
production and will be financed through Zimplats' internal
* Zimplats Chief Executive Alex Mhembere said the mine will
ensure that the Zimbabwe unit maintains production of 260,00
ounces of platinum per annum.
* "This investment is an important development for Zimbabwe
and will provide much needed support to the local economy at an
extremely difficult time, reinforcing our commitment to sustain
and grow our investments in the country," Mhembere said.
* Platinum mines are under pressure from President Robert
Mugabe's government to refine the metal locally as the southern
African nation seeks to derive more value from its minerals.
* Zimplats ships its platinum matte for further processing
at refineries in South Africa.
(Reporting by Nqobile Dludla; Editing by Susan Fenton)