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December 7, 2021updated 07 Jan 2022 6:40am

Zimplats approves capital investment strategy to boost capacity

The company will invest around $969m to expand production levels and boost processing capacity.

Platinum group metals miner Zimplats has announced that its board has approved an overall capital investment strategy with a $1.8bn budget to boost capacity, expand production, and support its operations.

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The strategy will be implemented over a ten-year period starting this year. Of the total amount, approximately $1.2bn has already been approved for implementation.

Around $969m will be invested to support growth projects to increase production. This will include developing a new mine and increasing processing capacity.

Zimplats aims to increase nameplate capacity from 6.7 million tonnes a year (Mtpa) to 8.8Mtpa, as well as in-country processing capacity to 380,000tpa of concentrate.

The company also plans to set up an abatement facility to reduce sulphuric dioxide emissions from smelting.

Zimplats will spend $516m to maintain current production levels through upgrades and mine replacements.

It has also allocated around $201m to improve its environment, social and governance (ESG) metrics and for a 185MW solar plant to enhance power supplies.

Zimplats will also use $100m for mothballed base metal refinery overhaul.

In a statement, Zimplats said: “These projects are expected to be funded by internally generated resources.”

Zimplats focuses on the production of platinum group and associated metals from Great Dyke in Zimbabwe.

In the quarter ending on 30 September 2021, the company mined a total of 1,808t of ore. The figure represents a 1% increase from the previous quarter and a 3% decrease compared to the prior year same quarter.

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img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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