Zimbabwe’s second-largest platinum group metal (PGM) producer, Mimosa Mining Company, has once again demonstrated its operational strength with a 3.1% increase in tonnes milled and a 3% rise in 6E concentrate production, despite a slight 0.6% decrease in grade, Mining Zimbabwe can report.
By Rudairo Mapuranga
The company, jointly owned by Impala Platinum Holdings (Implats) and Sibanye Stillwater, has achieved this growth due to its positioning on the industry cost curve, emphasizing its critical role within the group’s portfolio of PGM operations, as highlighted in Implats’ recent Production Update and Trading Statement for the six months ended December 31, 2024.
According to the statement, Mimosa milled 1,467,000 tonnes in the first half of 2025 (H1 2025), up from 1,423,000 tonnes in H1 2024. This increase reflects the mine’s ability to optimize operations and maintain a steady output trajectory. However, the 6E grade per tonne, which measures the concentration of metals within the ore, dipped from 3.63 g/t in H1 2024 to 3.61 g/t in H1 2025. While the grade decline is marginal, it plays a significant role in overall metal recovery and production efficiency.
Despite this slight drop in grade, 6E in concentrate—which represents the output of platinum, palladium, rhodium, gold, and other valuable metals—increased from 125,000 ounces in H1 2024 to 129,000 ounces in H1 2025. This 3% growth in concentrate output highlights Mimosa’s ability to counterbalance fluctuations in ore quality through improved processing efficiency and production management.
In a recent analysis of Mimosa’s performance, Mining Zimbabwe emphasized the company’s strong competitive positioning on the global cost curve. Mimosa remains an industry leader in cost efficiency, with an all-in cost (cash cost plus capital expenditure) of approximately R20,000 per ounce for 4E metals. This places Mimosa within the mid-tier range of global PGM producers, reflecting its ability to maintain cost competitiveness even as it navigates challenges in the mining environment.
The mine also continues to benefit from a favorable basket price for its 6E production, with spot prices exceeding R30,000 per ounce. This ensures Mimosa’s profitability despite market volatility and operational cost pressures. The mine’s consistent ability to generate strong margins is a testament to its effective cost management strategies, driven by the partnership between Sibanye Stillwater and Implats.
Mimosa’s annual production hovers around 250,000 ounces, making it a significant contributor to both Sibanye Stillwater’s and Implats’ overall PGM output. The mine’s ability to balance production volume with cost control ensures that it remains a pivotal asset within both companies’ portfolios.
Looking ahead, Mimosa’s growth prospects remain promising, with planned investments aimed at further optimizing its operations and maintaining cost efficiency. As highlighted in the Implats statement, Mimosa is positioned to capitalize on its production growth and cost efficiency, ensuring it continues to deliver robust returns for its stakeholders.
The synergy between Sibanye Stillwater and Implats provides Mimosa with the tools and expertise necessary to sustain its position as a competitive force in the global PGM industry. By leveraging operational best practices, Mimosa has cemented its role as a leading player, delivering strong results and positioning itself for continued success in the future.
As demonstrated by its solid performance in H1 2025, Mimosa’s ability to consistently improve its output while managing operational costs reaffirms its status as a key contributor to Zimbabwe’s mining industry and the broader PGM sector.
