Zimbabwe Platinum Miners Receive Call for Refinery Proposals

Voice of America reported that platinum miners in Zimbabwe must submit proposals to build a precious metals refinery by January 18. The move comes on the back of President Robert Mugabe’s 2013 announcement that miners must build a refinery in the country in two years or be subject to a ban on raw exports of the metal.

As quoted in the market news:

The ultimatum would affect the world’s two largest platinum producers, Anglo American Platinum and Impala Platinum Holdings (Implats), which both have operations in Zimbabwe.

The southern African country has the second-largest known platinum reserves in the world and the government last year gave miners two years to set up a refinery in the country or face a ban on raw exports of the metal.

Busi Chindove, spokeswoman for Implats’ local unit Zimplats, confirmed to Reuters that her company had received a letter from the government to submit its plans for a platinum refinery, but would not give details.

Click here to read the full Voice of America report.