• Inside Labour

    Terry Bell explores the connection between poultry, poverty and desperation.

  • A new ANC sweeper?

    Have the Guptas' new auditors mastered how to look the other way on cue, asks Solly Moeng.

  • Strategy for the big boys

    Formulating strategy across the span of huge companies is a marathon, says Ian Mann.

All data is delayed
Loading...
See More

SA platinum mines eye Zim

Nov 19 2012 10:19
Johannesburg - Platinum mining companies are expected to ramp up operations in Zimbabwe after production dropped to an 11-year low in South Africa, Business Day reported on Monday.

Anglo American Platinum [JSE:AMS] (Amplats) said it was planning a new mine in Zimbabwe, after it lost at least 170 000 ounces of platinum during an eight-week strike.

Amplat's subsidiary Unki Mines' chief financial officer Colin Chibafa said the new mine could double Zimbabwe's platinum output.

Impala Platinum [JSE:IMP] (Implats) recorded a surge in first-quarter platinum production from its Mimosa mine, which was a joint venture with Aquarius Platinum [JSE:AQP].

The mine said on Friday that the mine had recorded an increase in both tons milled and grade, resulting in an improvement in platinum production.

However, its Zimplats operation saw production fall by 11% because of a scheduled smelter shutdown in August and September.

Zimbabwe and South Africa hold 75% of the world's platinum reserves.

Foreign investor sentiment in South Africa took a knock after the country's mining industry was plagued by wildcat strikes.

On August 16, 34 striking workers at the Lonmin [JSE:LON] platinum mine in Marikana, were shot dead during a confrontation with police.

amplats  |  implats  |  lonmin  |  aquarius platinum  |  zimbabwe  |  platinum

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
14 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...