ANGLO AMERICAN Platinum (Amplats) is to provide an update on its future involvement in Zimbabwe’s platinum group metal (PGM) industry when it announces its full-year results, scheduled for February 22.
“We are in a strategic position (in Zimbabwe) because processing of PGMs is a challenge for new entrants, and it is very expensive to do,” said Natascha Viljoen, CEO of Amplats.
Two companies have recently stated an interest in building new PGM mines in Zimbabwe amid increased enthusiasm for the metals. An increase in pricing, especially for rhodium and palladium, is based on market anticipation of increased demand for PGMs in the manufacture of electric vehicle batteries.
Great Dyke Investments (GDI), a company backed by Sotic International, is hoping to raise up to $550m for a new mine and concentrator in Zimbabwe. GDI’s chairman, former Impala Platinum (Implats) CEO, David Brown, recently said the company would supply concentrate to an
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