Veritas

July 19, 2022

At Mimosa Mine in Zvishavane, concentrator optimization is 59% complete, while civil and earth works are nearing completion, and structural steelwork erection and mill installation are underway.

Infrastructural Development

Construction of the Copper Processing Plant at Alaska in Mashonaland West Province has been completed as scheduled.

Lithium Processing Plant at Sabi Star Mine in Buhera is 45% complete

The Lithium Processing Plant at Sabi Star Mine in Buhera is 45% complete, with the project on schedule for completion in January 2023.

5% Tax on Exports of Semi-Processed Metals like Platinum

The tax was announced by the Treasury in 2020, giving miners two years to prepare before it is implemented this year. The fee, which may be as high as 5%, is intended to encourage corporations to build their own processing plants, allowing Zimbabwe to maximize the value of its natural resources.

Zimbabwe Signs Agreement to Begin Construction of $300m Platinum Refinery

The Zimbabwean government has signed a deal to build a $300 million platinum refinery, which would greatly boost the country's platinum export profits. The state-owned Zimbabwe Mining Development Corporation and Kelltech, an Australian corporation, will create a joint venture (ZMDC). The factory will be able to separate base metals such as nickel, cobalt, and copper from precious metals such as platinum, palladium, and gold. This would also allow Zimbabwe to refine its platinum rather than exporting it primarily as a raw ore.

Chrome Exports Banned

Zimbabwe banned the export of raw chrome with immediate effect in a bid to support the domestic ferrochrome industry. Exports of chrome concentrates will be banned from July 2021 - Government says there are enough smelters in ther country to ensure all exports of ferrochrome ingots.

Government retains current indigenisation rules for platinum and diamond mining.

Minister of Mines and Mining Development Winston Chitando made his country’s intentions clear regarding ownership rules for diamonds and platinum mines. In an interview quoted by Mining Weekly, Chitando said there would be “no change” for diamonds and platinum when asked about the relaxation of Zimbabwe’s indigenisation rules. According to these rules, the state holds 51% of platinum or diamond mines.