Second Zimbabwe platinum mine opens

Harare, – Zimbabwe's second platinum mine, an investment by South Africa's Anglo-American Corporation, has opened, officials said Monday.

Unki mine, in central Zimbabwe, has been in development for several years, and is set to rival the Zimbabwe Platinum Mine controlled by another South African company, Impala Holdings

Walter Nemasasi, Unki Mine general manager, said the company shipped its first export of platinum concentrate at the end of last month. He said production was gradually being increased, and expected this to hit 4,400 ounces a month soon, and 150,000 ounces annually.

‘Our first exports of platinum concentrates heralded the mine coming on board as a full-scale miner of platinum since development work on the mine began in 2003,’ he said.

The mine sits on some of the biggest platinum reserves in the world, and it is expected to become Anglo-American’s largest source of the mineral in coming years.

The investment by the corporation is one of the biggest in the country, but Anglo-American, like many foreign investors, has been shaken by Zimbabwe’s drive to take over foreign-owned companies.

Zimbabwe has the second biggest reserves of platinum in the world, and both Impala Holdings and Anglo-American Corporation have staked their future on the country.