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Global metal price slump hits Zimplats, profits down 48 percent

Global metal price slump hits Zimplats, profits down 48 percent

imbabwe Platinum Mines (Zimplats) on Monday reported a 48 percent drop in operating profit in the quarter to December 31, hit by poor metal prices, lower sales volumes and higher operating costs. Zimplats, the country’s largest miner, said revenue decreased by 13 percent to about $126 million, from the previous…

Mwana Africa offers platinum miners smelting facility

Mwana Africa offers platinum miners smelting facility

MWANA Africa, a mining and exploration company listed on London’s Alternative Investment Market, is offering its smelter in Zimbabwe for use by platinum miners in that country, where the government is pushing the beneficiation of minerals to realise greater value. South Africa’s Impala Platinum, Anglo American Platinum and Aquarius Platinum…

Zimbabwe’s Blanket Mine owner in new marketing arrangement for gold exports

Zimbabwe’s Blanket Mine owner in new marketing arrangement for gold exports

Zimbabwe-based gold miner Caledonia Mining has a new marketing arrangement for gold produced at the Blanket mine. New rules introduced by the Zimbabwean Ministry of Finance mean all gold must now be sold to state-controlled Fidelity Printers and Refiners, which is now responsible for the final refining and marketing of all gold produced in…

Zimbabwe Assessing Platinum Companies’ Proposals for Refineries

Zimbabwe Assessing Platinum Companies’ Proposals for Refineries

Zimbabwe has started assessing submissions by companies including the local units of Anglo American Platinum Ltd. (AMS) and Impala Platinum Holdings Ltd. (IMP) to build metal refineries in the country. “It’s pleasing that they have submitted the plans and they are now being looked at,” Deputy Mines Minister Fred Moyo said in a telephone interview.…

Mwana Africa rises to challenge as first half profit jump by 88%

Mwana Africa rises to challenge as first half profit jump by 88%

Interim results from London Stock Exchange listed Mwana Africa reveal the group has been successful in stabilising the business. Revenues rose 7% to US$65mln, while pre-tax profits advanced 88% to US$7.5mln, reflecting the company’s tight control of its cost base. With US$9.2mln of cash the group is well funded. First shipments from the Trojan nickel mine…