Zimplats spends $500 000 in exploration projects



from MARCUS MUSHONGA in Harare, Zimbabwe
HARARE, (CAJ News) ZIMPLATS, the mining leader in platinum group metals (PGMs), has spent US$0,5 million on exploration projects over the last quarter of 2020.

This is out of a total of $0,9 million committed for such projects.

The company disclosed the spending in a production updated for the last quarter of the past year, ended December 31.

Total operating cash costs increased by 1 percent to $96,542 up from the previous quarter mainly due to local government rates and computer software licence fees, which are paid bi-annually.

A total of $1,8 million was transferred from operating costs to closing stocks during the quarter compared to $5,6 million in the previous quarter.

This was due to the 3 percent decrease in tonnes of ore mined and 1 percent increase in the volume of ore milled.

Tonnes mined decreased 3 percent to 1,81 million, down from the previous quarter.

Four employees tested positive for coronavirus (COVID-19).

Three of them had since recovered while one was still under management at the company’s medical facility as at the end of the quarter.

– CAJ News










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