Platinum Miners Get 10 Days for Refinery Plans

via Zimbabwe Miners Get 10 Days for Refinery Plans – ABC News  January 8, 2014 (AP)

Zimbabwean authorities have given platinum miners 10 days to submit proposals to build a refinery by the end of the year.

State media reported Wednesday that mines ministry official Francis Gudyanga said miners will be forced to stop exporting raw platinum if they fail to build the refinery by December.

Zimbabwe is the world’s second largest supplier of platinum, a corrosion-resistant metal with a variety of industrial uses that is priced higher than gold. But the mining companies send the raw ore to neighboring South Africa for processing.

Mining industry executives say at least $3 billion will be needed to build a refinery, a process that can take more than 5 years.

South African-owned Zimplats, the country’s biggest platinum producer, will be affected if the policy is carried out.

 

COMMENTS

WORDPRESS: 4
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    Saddened 8 years ago

    Typical central command type economics. Why doesn’t he give an ultimatum to those in government to stop their corrupt activities? Wishful thinking I suppose!

  • comment-avatar

    Great. threats get us everywhere. maybe these giants should call ZPF’s bluff and call it a day. Let us suffer a bit more.

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    Khaya'bonina 8 years ago

    No ways they must build the refinery , ZANU PF is corrupt yes i agree but this time the mining industry will never grow without the refinery , the building will creat both short term jobs and long term jobs . The processing of these raw ore must be done at home ,that will grow the industry .

    I don’t support ZANU PF but good initiatives like this uplifting our mining industry must be backed up .

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    Yes I agree! But not with threats. All we do is get threatened PF be a bit professional and for once cut some decent policies.. You do not continually threaten and or bite the hand that feeds us. We destroyed our agriculture are we going to do the same with the mines.