Zimplats has confirmed that it intends to commission a new concentrator to enable it to bring platinum production at its Ngezi mine to 160,000 oz per year by 2010, the Chronicle reports.

Zimbabwe's largest producer of the precious metal announced that the new facility, which it expects to be capable of processing two million tonnes per year, will be commissioned in April.

The move forms part of the expansion project at the mine, which has survived unaffected despite the company announcing in November that it was scaling down operations in light of the current depressed pgm prices.

Busi Chindove, Head of Corporate Affairs at Zimplats, told the news provider: "Ramping up of production from the underground mines to replace open pit ore is well under way.

"In other words we have replaced open pit mining with more cost-effective underground mining. There are no immediate plans to resume open cast mining."

Ms Chindove also confirmed that the decline in the pgm markets in recent months has affected the company's projects and subsequently its revenue.

The platinum price reached a high of $2,200 per oz last year but is currently trading at closer to the $900 per oz mark.

Source:

Zimplats expands Ngezi Mine operations (27/01/09)
http://www.chronicle.co.zw/inside.aspx?sectid=1555&cat=8