Zimbabwe Platinum Producers to Start Processing Metal Next Year

Bloomberg reported platinum-mining companies in Zimbabwe will probably be processing the metal in the country by the middle of next year.

As quoted in the market news:

Producers “should certainly see the commissioning of beneficiation of platinum projects by mid next year,” Chamber of Mines President Alex Mhembere told lawmakers on Friday in the capital, Harare. The organization represents most medium- and large-scale miners in the country.

Zimbabwe’s government has repeatedly warned miners of the precious metal that taxes and royalties will be raised unless the mineral is smelted in the country, rather than in neighboring South Africa. A 15 percent levy was added in January. Producers in the country include Anglo American Platinum Ltd., and Impala Platinum Holdings Ltd., the world’s two biggest for the metal.

Click here for the full Bloomberg report