zimplats.jpgPlatinum mining giant, Zimplats’ $460 million phase two expansion project is set to be complete in the first quarter of next year, a development that is expected to increase production from 180 000 ounces to 270 000 ounces annually.

The mining firm’s operations have been boosted by the competitive prices of the platinum on the international market which is hovering around $1 700.

Phase one of the project which was commissioned in 2009 and chewed $349 million has seen an increase of production from 90 000 ounces to the current 180 000 ounces.

Zimplats Chief Operating Officer, Mr. Stanley Segula said phase two is currently on schedule and will be complete by April next year to increase production to 270 000 ounces following the injection of $460 million.

With concerns having been raised over the setting up of a refinery, the firm is confident the project will be set up in future depending on production levels as the plant requires production of 500 000 ounces annually for sustainability.

The phase two expansion project entails the construction of a 35 000 mega litre dam to supply the mine with water which is a critical component in the mining of platinum, and the construction of 1 125 houses for employees.