First-quarter production among Zimbabwe’s three largest platinum group metal miners delivered a mixed picture, with Zimplats extending its output lead while Mimosa and Unki both posted declines amid power disruptions and planned lower-grade ore sequencing, Mining Zimbabwe can report.
By Rudairo Mapuranga
Zimplats, the country’s biggest PGM producer, boosted 6E concentrate volumes by 18% year-on-year to 159,000 ounces in the three months ended March 31, 2026, as improved mechanised fleet availability and higher open-pit volumes drove milled throughput 15% higher. The gain came despite a 3% regression in milled grade to 3.28 grams per tonne 6E, reflecting increased contributions from lower-grade South Pit ore and dilution from geological structures. The strong concentrate performance was partially offset by a 45% slump in matte production to 76,000 6E ounces after furnace maintenance during the quarter disrupted smelting. Tapping was reinitiated in mid-March, and Zimplats expects to deplete an accumulated concentrate stockpile of around 63,000 6E ounces over the remainder of the 2026 financial year.
Mimosa’s performance weakened, with 6E concentrate production falling 2% to 58,000 ounces as sporadic regional power disruptions impeded operating momentum. Milled volumes slipped 1% to 688,000 tonnes, while head grade declined 2% to 3.55 grams per tonne 6E due to complex ground conditions and changing ore mineralogy. Process stability and yield were particularly challenged by the power interruptions, and for the nine months through March, cumulative concentrate output dropped 4% to 181,000 ounces compared with the prior comparable period.
Unki recorded a 4% decline in PGM production to 51,700 ounces, reflecting planned mining of lower-grade ore as part of normal mine sequencing, according to a separate report from the operation. The decline at Unki contrasted with the broader performance of its parent group, which saw total 5E plus gold metal-in-concentrate production rise 7% to 743,500 ounces, supported by stronger own-mined output and increased third-party concentrate purchases. Refined output jumped 78% to 778,500 ounces, aided by a decision to shift planned maintenance and stock counts from the first to the third quarter.
The divergent quarterly performances underscore the varying pressures facing Zimbabwe’s PGM sector. Zimplats is positioned to rebound in the coming months with its smelting bottleneck cleared, while Mimosa grapples with a maturing orebody and an unreliable national grid. Unki is advancing a 10.6-megawatt solar plant, expected to come online by mid-2026, as the first phase of a larger photovoltaic project aimed at reducing dependence on ZESA, whose supply struggles have seen mining sector electricity demand reach about 2,600 megawatts against constrained generation. An average realised basket price of R47,529 per ounce, the highest since the second quarter of 2021, is providing some revenue relief even as production trajectories diverge.
