The country’s biggest platinum group metal (PGM) producer, Zimplats, reported a 16% decrease in its gold production for the half-year ended 31 December 2024, producing 14,587 ounces compared to 17,424 ounces during the same period in 2023, Mining Zimbabwe can report.
By Rudairo Mapuranga
This decline is part of a broader trend seen across various metals and minerals in Zimplats’ portfolio, as the company faces several challenges in production and market conditions.
In total, the group produced 279,890 ounces of 6E (Platinum Group Metals) during the six months, down by 15% from the 327,810 ounces produced in the half-year ended 31 December 2023. Platinum production also fell by 13%, from 151,170 ounces to 130,772 ounces, while palladium saw a significant 15% drop, with production decreasing from 127,474 ounces to 108,011 ounces.
Other metals were similarly affected, with rhodium dropping by 6% to 11,202 ounces and ruthenium falling by 9% to 10,258 ounces. Iridium experienced the sharpest decline among the PGMs, with a 20% decrease, falling to 5,060 ounces from the previous year’s 6,332 ounces.
Zimplats’ production of silver decreased slightly, dropping by 4% to 24,777 ounces, while nickel production remained relatively stable, recording 2,655 tonnes compared to 2,350 tonnes in the previous year, showing a modest 13% increase. Copper output remained static, holding at 2,032 tonnes, a slight improvement of 2% from the previous period.
Sales volumes followed a similar trend, with platinum sales down 11% to 130,737 ounces compared to 147,362 ounces sold during the same period in 2023. Palladium sales declined by 14%, reaching 107,971 ounces. Gold sales reflected the production trend, decreasing by 13% to 14,606 ounces from 16,866 ounces in the previous year.
Total 6E sales amounted to 279,740 ounces, a 13% decline from the 320,196 ounces sold in 2023. Silver sales also dropped by 6% to 29,351 ounces. However, nickel sales rose marginally to 2,685 tonnes, while cobalt sales decreased significantly by 30%, dropping to 35 tonnes from 50 tonnes.
The production and sales declines signal a challenging period for Zimplats as the company navigates fluctuating market conditions and operational difficulties across its mining operations. These figures also reflect the broader economic pressures facing Zimbabwe’s mining industry, as producers contend with both global market trends and local operational constraints.
Zimplats will need to implement strategic initiatives in the coming months to stabilize production and capitalize on its mineral assets, particularly as demand for PGMs and precious metals remains high globally due to their industrial and technological applications.
