Zimplats To Invest US$1.4 Billion In New And Existing Projects
Mines and Mining Development Minister Winston Chitando and Zimplats chief executive Alex Mhembere signed a Memorandum of Agreement on Monday morning that will see the mining firm investing US$1.4 billion to boost its operations.
The signing of the memorandum took place at the State House in Harare and was witnessed by President Emmerson Mnangagwa and Vice President Constantino Chiwenga.
Zimplats is also targeting to develop a new mine, expand the capacity of its smelter, construct an additional concentrator, base metal refinery, sulphuric acid plant and the setting up of a 110 MW solar power plant.
Speaking after the signing of the memorandum of understanding, President Mnangagwa noted that the envisaged humongous investment by the platinum miner, which is Zimbabwe’s largest mining company, was crucial towards local value addition and beneficiation. He said:
The envisaged investment of US$14 billion by ZIMPLATS is a welcome development. This will see the setting up of integrated projects, including the development of a new mine; expansion of the smelter, construction of an additional concentrator, base metal refinery, sulphuric acid plant and the setting up of a 110 MW solar power plant.
Government welcomes the intention by ZIMPLATS to construct a Base Metal Refinery as a crucial step towards local mineral beneficiation and value addition of the platinum group of metals.
The sulphuric acid plant, will contribute strategic raw materials needed in the local manufacturing of fertilizers and help reduce the importation of sulphuric acid.
The adoption and use of smart energy sources by ZIMPLATS through integrating the development of a 110 MW solar power plant is also commendable.
