- Zimplats’ (ZIM) board of directors have approved a capital investment strategy with a budget of US$1.8 billion (A$2.7 billion) to be implemented over a 10-year period
- Zimplats is an ASX 200 mining company focused on extracting and marketing platinum group metals in Zimbabwe
- The majority of the funds will go towards expanding production levels by developing a new mine, establishing a new facility and increasing processing capacity
- ZIM is also using the money for upgrades, refurbishing a base metal refinery, and investing in a solar plant
- Company shares ended Monday’s session 3.06 per cent in the red at $21.52
Zimplats (ZIM) has announced the Board has approved a capital investment strategy with a budget of US$1.8 billion (A$2.7 billion) to be implemented over the next 10 years.
Of this amount, US$1.2 billion (A$1.7 billion) has already been approved for implementation.
Zimplats is a mining company focused on the extraction and marketing of platinum group and associated metals within Zimbabwe.
Specifically, US$516 million (A$362 million) will be allocated to maintaining current production levels through mine replacements and upgrades.
A further US$969 million (A$1.4 billion) will concentrate on expanding production levels through growth projects, including developing a new mine and increasing processing capacity, as well as establishing an abatement facility to mitigate sulphuric dioxide emissions exuding from the current smelting capacity.
The billion-dollar stock will spend US$100 million (A$142.5 million) on refurbishing a mothballed base metal refinery and a further US$201 million (A$286.5 million) will be invested in a 185-megawatt solar plant to alter power supplies and enhance environmental, social and governance performance metrics to maintain its licence to operate.
Company shares ended Monday’s session 3.06 per cent in the red to close at $21.52 per share.