Zimplats operations unaffected by military ructions, says Impala
'Our operations are all located some distance from the capital, and have continued to operate normally this morning'
Impala Platinum, the majority owner of Zimplats, said its operations were unaffected by political developments in Zimbabwe, where the military has sent tanks and armoured vehicles into the capital Harare and taken over key points like the national broadcaster.
Implats owns 87% of Australia-listed Zimplats, the largest platinum miner in Zimbabwe which provides work for nearly 6,000 people.
It is also the equal partner in the Mimosa mine shared with Sibanye-Stillwater.
The Zimplats mines reported sales of 274,400oz of platinum in the 2017 financial year to end-June, 227,900oz of palladium and 24,600oz of rhodium, making them the second-largest source of platinum group metals for Implats.
“While there are reports of military presence in the country’s capital, to date, there has been no sign of unrest or military presence at any of our operations,” said Implats spokesman Johan Theron.
“Our operations are all located some distance from the capital, and have continued to operate normally this morning,” he said.
Zimplats shares were untraded on Wednesday, while Implats fell early in the morning to a low of R36.36 each before recovering slightly to R36.65, a 1.2% decline from Tuesday’s closing price.
The Mimosa mines produced 115,500oz of platinum and 29,700oz of palladium in the 2017 financial year and employ 1,337 people.