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Zimbabwe’s second-largest platinum group metals (PGM) producer, Mimosa Mining Company, has reported a 5 per cent decline in 6E concentrate production for the six months ended 31 December 2025, attributing the drop to intermittent power interruptions and increased processing of challenging ore types, Mining Zimbabwe can report.
By Rudairo Mapuranga
According to a production update released by its major shareholder, Impala Platinum Holdings Limited (Implats), Mimosa’s output fell to 123,000 ounces for the first half of its 2026 financial year. This performance reverses the positive momentum from the comparable period in 2024, which saw a 5 percent year-on-year increase to 122,639 4E ounces.
The half-year result consolidates a challenging start to the financial year, following a reported 6 percent production dip in the first quarter (July–September 2025). The primary causes remained consistent throughout the period: processing instability due to unscheduled power cuts and lower recoveries associated with treating higher volumes of oxidised ore as mining advances toward the extremities of the orebody.
This decline marks a significant shift from Mimosa’s performance in the 2024 calendar year, where strategic plant optimisations drove an 8 percent quarterly production boost and positioned the mine as a global low-cost producer. The current challenges highlight the vulnerability of even the most efficient operations to Zimbabwe’s infrastructural constraints and natural orebody progression.
“The recent results underscore a persistent dichotomy for Mimosa,” noted a local mining analyst. “The mine has demonstrated world-class efficiency through its optimisation projects, but these gains are being systematically eroded by external power instability and internal geological factors. The increased oxidised ore is a finite mining challenge, but the power issue is a recurring tax on productivity.”
The 5 percent half-year production drop has tangible economic ramifications. Based on recent basket prices, the lost output likely represents several million dollars in unrealised export earnings for Zimbabwe. As a major foreign currency earner, Mimosa’s performance directly impacts national revenue.
The operational setbacks at Mimosa occur against a fragile global PGM pricing environment. While platinum has found some support from industrial and hydrogen economy applications, palladium and rhodium prices remain under severe pressure due to the accelerated adoption of electric vehicles and thrifting in the automotive sector. This low-price environment amplifies the financial impact of production declines, squeezing producer margins and making cost control and operational stability paramount.
Despite the current headwinds, the joint venture between Implats and Sibanye-Stillwater is expected to continue leveraging its low-cost base and completed capital projects, such as the new tailings storage facility, to navigate the difficult period. The focus will remain on mitigating the impact of oxidised ore through metallurgical adjustments and pursuing possible interim solutions to power reliability.
For Zimbabwe’s mining sector, Mimosa’s experience reinforces the urgent need for permanent solutions to the national power crisis. As global markets demand consistent and cost-competitive supply, the country’s ability to address its infrastructural deficits will be a critical determinant of its future share in the global PGM industry.
