via Mugabe threatens to stop raw platinum exports – Times LIVE Reuters | 11 November, 2013
Zimbabwe may halt exports of raw platinum to South Africa to force mining companies to build a refinery in the country as a two-year deadline has expired, state media quoted President Robert Mugabe as saying.
The threat, if carried out, could affect the world’s two largest platinum producers, Anglo American Platinum and Impala Platinum Holdings, both of which have operations in Zimbabwe.
The southern African country has the world’s second largest known platinum reserves but mining companies send the raw product to neighbouring South Africa for processing.
Mugabe, who at the age of 89 won re-election in July, told a weekend meeting of his ruling ZANU-PF party that platinum producers were ignoring a government directive two years ago to set up a refinery in the country.
“Let us close our doors immediately and say no raw platinum will go to South Africa. The former minister gave them two years and we must see them now arranging to build a refinery,” the state-run Herald newspaper quoted Mugabe as saying.
“If they have not started, after that warning, building a refinery then when the time comes for us to demand that all refining has to be done here, they should not blame us.”
Zimbabwe produced 350,000 ounces of refined platinum in 2012, which is 6 percent of world production, according to the Chamber of Mines, the country’s mining industry lobby group.
The Chamber has said Zimbabwe would need to raise platinum output to 500,000 ounces a year to justify a refinery, which it estimates would cost at least $2 billion to build, equal to close to a fifth of the country’s gross domestic product.
COMMENTS
Its a very noble idea but there are echoes of Zimbabweans who have made a resolution to sabotage their economy. They will definitely shower this site with insults.
@ Africason
We don’t need to sabotage the economy – Bob has done it all on his own. Good job.
This is the way forward Mr President no more turning back on our resources.
Mugabe must have a little d*ck, don’t you think?
YOUR SELFISHNESS AND YOUR BIG IDEAS. YOU ARE ABSOLUTELY USELESS GOOD FOR NOTHING. YOU HAVE DESTROYED A GREAT COUNTRY AND A GREAT NATION. YOU HAVE BEEN GIVEN GOLD WHICH YOU TURNED INTO SOIL. INDIGENISATION MY ASS.GREEDY PIGS, COFINS HAVE NO POCKETS.YOU ARE THE DISGRACE OF AFRICA.
When will Mr Mugabe stop threatening people and try at last to govern with the consent of the governed.
Mr Mugabe stopped commercial farming and how did that help us? It made us poor.
Now he wants to force platinum mining to its knees, and how will that help us? It will make us even more poor.
The man is an economic illiterate.
Sekuru you are right. Why don’t they start with diamonds where their interests are? Signs of a desperate man without any solution to approaching disaster.
That would be great, but why not start with the diamond industry which has been indigenised? What is stopping Mugabe from establishing diamond polishing industries?
33 years of threats, Mr President; what did they achieve? We are still waiting for you to put in place the retaliatory sanctions against the west as you promised soon after the elections.
I think the old man is very right here. Platnum should be refined in Zim or else never.We need a refinery to be setup soon. Forward with the idea Mudhara
@ Ndoronya
Well, then it will be never comrade. Anything that zanu touches turns to sh*t.
Yes, that’s right, follow the usual african procedure which is ‘I am incapable of building it so YOU build it’ and then add the uniquely perverse ‘zimbabwe/mugabe angle’………’and when you’ve built it you will cede the 51% controlling stake to us’…..lazy, thieving, vitriolic ‘indigent-inous’ blacks.Did you ever pause to consider that this may be the reason a refinery hasn’t yet been built? No, I’m sure you didn’t because in your moronic universe 2+2 ends up equalling 1!!
OOOOOOOOOOPS, no racism, PLEASE.
Over the past three decades, Zimbabweans have evolved to detach themselves from politics because of the high risks that goes with it. People are now even scared to hear even the word politics.
The essence of democratic is the active, freely chosen participation of its citizens in the public life of their community and nation. This sustaining participation, is somewhat absent in Zimbabwe, so our democracy has withered, and only a few organizations and groups still confront the government over its undemocratic and corrupt tendencies. Enjoying our rights has to balance with our responsibility to protect those rights.
But if Zimbabweans chose not to go thru this route of protecting their rights, but instead chose to be cannibalize each other through shoddy deals, the end result is total national collapse. Signs of total collapse already manifest. Look at the corruption at VID, police roadblocks, municipal governments, school examinations council, passport office to name just a few. It will be extremely difficult or even be impossible to get back to normal fair behavior after having been corrupt for so long and so much. Corruption is out of control in Zimbabwe. We are tending to a situation where corruption is becoming normal and where everybody practices it. Zimbabwe is fast becoming a failed state.
Charlie, this resource is ours and we decide how its marketed. Remember we now have 51% ownership. Refinery will bring more job opportunities, about diamond we are already in the process. Remember the Refinery is already 51% our because we are already 51% into these companies. When you comment from out side the country you comment with ignorance.
@ Shebah
The resource is not yours – it is an asset of the Zimbabwean people, not zanu. And regards your 51% mantra – where has this been enforced? Zanu has backed off quickly from ‘indigenisation’ because they know damn well it will precipitate catastrophe. Anyway, if you want to live in abject poverty, dependent on western handouts, then go ahead. Don’t matter to me comrade.
Very nice way of thinking. Like this it is more than sure that unemployment will reach 100%. The land belongs to God.Are you so naive to believe that 51% is YOURS? Since when ? Wake up my brother.Open your eyes. Zimbabwe is at its worst.
If Zimbabwe owns 51% of the company, then Zimbabwe must pay 51% of the $2B cost of building the platinum smelter. That’s how companies operate. Come on Mugabe, pay up or shut up.
A refinery needs an uninterupted supply of electricity, is the Government going to supply this?
Despite the trepidation associated with the zpf way of doing things, the idea of refining platinum in the country is noble for there are multiple minerals including gold, palladium and the most expensive mineral, rhodium in the platinum. It then follows that South African white smelters will only declare platinum as the refined product without mentioning the other group metals retrieved. If they establish base here, we will want to account for every mineral produced and these rhodies don’t want that, so they will convince a defunct chamber of mines to issue statistics of no sense. If there is a requirement to reach 500 000 ounces of platinum output to necessitate a refinery, then the fact that Zim being the world’s second largest reserve of the mineral is enough reason to go on building the refinery because we have an abundant resource to sustain the refinery.
What is a Rhodie? I think you have been brainwashed which would have been easy given the size of your brain!
Thanks to technology, everyone now can be an psychology, political analyst or economist when talking against zim economy. Even pre school drops outs can insult without articulating any ideas. The mental faculty can easily be read through insults that are posted. A fool insults someone with wisdom does not insult, he replies with educating comments. But we can’t complain because this is a free for all forum.
I am beginning to like the comments, shows our white brother are beginning to realise. We will eventually find each other but not through Tswangirai
Brother you are totally confused.
William Doctor I am a Zimbabwean people remember and ZPF is managing the resource through govt.
Zanu-PF is highly unlikely to do anything in the short-term which would enable the west to remove the sanctions and rob Mr Mugabe of his favourite campaign weapon. So the Zanu PF leadership finds itself on very thin ice and if they make one wrong step, they will break through and freeze to death. They simply cannot make good on their promises to pay higher salaries to Government workers and the armed forces, they cannot improve allowances and pensions to war veterans. They have to resume debt collection with tough penalties and they have to persuade a skeptical business world that there is life after the elections and under Zanu PF leadership.
Yes Shebah, the only factual statement you’ve made…………like everything else you DO own 51% of the refinery (which doesn’t exist) because in your ignorance, racism, greed and lethargy, you people would rather own 51% of nothing than 49% of something! Get real and try doing something positive and practical for yourselves for once!
Clive Sutherland a rhoddie is an unrepentant white who believes he came from heaven to deliver a black man from demise by sublecting him to sub human status by refusing to equally share the procceds of everything including even land so much in abundance. He is the same racist in S.A. who is refusing to the nobble willing buyer willing seller scheme which will only usher in a reasonable equitable land re distribution exercise ensuring all that require land get it. But because of idiots like you who believe thinking like a white man when I am black , and a sensible call for not exporting labour to foreign lands by demanding construction of a smelter in our country is being brainwashed, betrays a real need for you to see a psychiatrists.
Build a refinery or stop shipping raw product to SA and sustaining the South African Rand.
There is more to the raw ore than the dust we see and hence they are taking it out at the expense of Zimbabweans and the country.
How Zimbabwe be the second largest in the world and have a refinery.
They must just go a rehabilitate Zim Alloys in Gweru period.
Rather stop digging and leave worthless holes in Zimbabwe.
Viva Mugabe on this long overdue.