Zimplats' mine collapse cuts platinum output by 50% - CNBC Africa

Zimplats' mine collapse cuts platinum output by 50%

Mining

by Reuters 0

Zimbabwe has the world's second-largest known platinum reserves. PHOTO: Getty Images

Zimplats said there were no reports of injuries or damage to mobile equipment after the incident at the Bimha mine, located 150 miles southeast of the capital Harare and the biggest of four Zimplats-owned platinum mines.

The collapse was triggered by deterioration of ground conditions along a fault first identified in 2011, said Zimplats, a unit of world number two platinum producer [DATA IMP:Impala Platinum] (Implats).

“As a result production from the Bimha mine has been downscaled by 50 per cent equating to 45,000 ounces of platinum in matte production,” Zimplats said in a statement.

(READ MORE: Zimbabwe says platinum mines submit plans for refinery by end-2016)

Zimplats is a key source of revenue for Implats, which lost 2,800 ounces of production daily during a 19-week strike earlier this year at its Rustenburg operations in South Africa.

Zimbabwe has the world's second-largest known platinum reserves after South Africa. Implats and fellow South African group, [DATA AMS:Anglo American Platinum] typically ship what they mine in the country to South Africa for refining.

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