The company says this is in support of the government’s effort to enable participation by other investors in the platinum mining industry in Zimbabwe.
Following this release of ground, Zimplats now holds two separate and non‐contiguous pieces of land measuring in aggregate 24 632 hectares.
Consequently, the operating subsidiary applied for and was granted with effect from 31 May 2018, two separate mining leases over the two pieces of land measuring 6 605 hectares and 18 027 hectares, respectively.
The smaller area hosts the historical Hartley mining area and Selous Metallurgical Complex, while the other hosts the Ngezi mining operations, including the future portal 10 mining area. These mining leases replace the special mining lease held by Zimplats, which was due for renewal in August 2019.
The two mining leases issued to Zimplats’ operating subsidiary are valid for the life of mine of Zimplats’ mining operations and secure the operating subsidiary’s mining tenure.