The world’s largest platinum miner Anglo Platinum (AngloPlat, AMS) and Anglo American Corporation Zimbabwe (Amzim) on Friday announced that they would proceed with the Unki platinum project situated near Gweru on Zimbabwe’s Great Dyke region.
The project is subject to certain Zimbabwean and South African regulatory and fiscal approvals, which are expected to be granted in the near future. The project involves the development of an 85 000 tons per month mine, which will include an on-site concentrator.
The mine will produce concentrate containing some 58 000 ounces of refined platinum per annum at full capacity and first production from the plant is expected in 2007. The total project cost is estimated at $90-million.
The concentrate produced by the mine will be smelted and refined by AngloPlat in South Africa. The project will be implemented on a phased basis and at full production some 1 300 direct employment opportunities in Zimbabwe will have been created.
AngloPlat will hold a majority shareholding in Unki and will also manage the operations. AngloPlat and Amzim will fund the initial development phase from existing cash resources and borrowing facilities.
Amzim is in discussions with indigenous parties with a view to their acquiring an equity interest in Unki. – I-Net-Bridge