Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Zimbabwe’s Platinum Refinery Plan Is Backed by Producers

Jan. 23 (Bloomberg) -- Anglo American Platinum Ltd., Impala Platinum Holdings Ltd. and other producers of the metal in Zimbabwe said they’re committed to the country’s plan to build a refinery, easing concern they’ll face a ban on exports.

Processing platinum-group metals domestically “definitely makes economic sense,” the Zimbabwean Platinum Producers Association, which represents the mining companies, said in an e-mail yesterday. “We are committed to this initiative.”

Producers submitted plans to build refinery units to process raw platinum after President Robert Mugabe’s government threatened them with a ban on exports if they fail to complete a plant by the end of the year. Zimbabwe, which has the biggest platinum reserves after neighboring South Africa, is seeking to keep more revenue from the industry inside the country.

The processing units that would make up a refinery would require as much as 150 megawatts of electricity and other basic infrastructure, the association said.

Zimbabwe produces 430,000 ounces of platinum a year, according to a Jan. 3 government document obtained by Bloomberg News. The industry needs as much as $5.3 billion if it’s to expand output to more than 500,000 ounces and build refineries to process platinum-group and industrial metals extracted from the same ore, according to the producers’ association.

Only Anglo American Platinum, Impala and Aquarius Platinum Ltd. currently produce in Zimbabwe. Todal, part-owned by Eurasian Natural Resources Corp., is developing a mine shaft, according to the industry body.

Platinum fell 0.2 percent to $1,455.75 per ounce at 3:02 p.m. in Johannesburg today.

To contact the reporters on this story: Franz Wild in Johannesburg at; Godfrey Marawanyika in Harare at

To contact the editor responsible for this story: Antony Sguazzin at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.