Zimplats eyes mothballed mine reopening amid rally

IMPALA Platinum’s Zimbabwean subsidiary is exploring the potential reopening of a mine shuttered since 1998, following platinum prices reaching their highest levels in over a decade, said Reuters.Australia-listed Zimplats, which is 87% controlled by Impala, inherited the Hartley mine through its 2001 acquisition of former BHP assets. The operation was placed under care and maintenance after consistently missing production targets.Speaking during the commissioning of a 35-megawatt solar facility at Zimplats on Wednesday, Impala board chairperson Thandi Orleyn said the company was conducting feasibility studies and trials to establish safe, mechanised mining methods for the potential restart. She provided no timeline or capacity details for the possible resumption.Platinum experienced a dramatic 36% surge during the second quarter, fuelled by increased Chinese demand and reduced output from South Africa, the sector’s dominant producer, said Reuters. This rally follows a two-year price slump that compelled Impala and industry rivals to halt projects and implement cost-cutting measures, it added.Last year, Impala deferred expenditure on portions of its $1.8bn Zimplats capital programme due to weak pricing for metals essential in manufacturing catalysts that reduce vehicle emissions.However, the company has now completed several initiatives, including the initial phase of a 185-megawatt solar installation and an expanded smelter, both officially launched on Wednesday.Zimplats indicated its intention to finish remaining capital projects, including base metal refinery rehabilitation, by 2031. The developments signal renewed confidence in platinum markets following an extended period of industry consolidation and project deferrals across major producers, said Reuters.The post Zimplats eyes mothballed mine reopening amid rally appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com