ZIMPLATS or ‘ZIMPalladium’ as Pd continues to top earnings
Despite its annual revenue from minerals declining by over 8 per cent, Palladium continues to be Zimplats’ biggest annual earner, fetching nearly US$0.5 billion during the financial year ended 30 June 2022.
Rudairo Mapuranga
According to figures from Zimplats’ 2022 Annual Financial Statement, although palladium continues to be the group’s biggest mineral earner, its revenue declined by 9.4 per cent to US$451 929 000 from US$498 851 000 generated by palladium the previous year. The overall group’s revenue declined by 8.17 per cent to US$1 243 140 000 in 2022 from US$1 353 792 000 generated the previous year.
The group’s Annual Financial Statement shows that Rhodium despite its revenue declining by 29.13 per cent to US$312 045 000 in 2022 from US$440 305 000 in 2021, is Zimplats’ second biggest earner.
The third revenue earner for the group during the Financial Year ended 30 June 2022 was Platinum with its revenue increasing by 1.1 per cent to US$ 248 799 000 from US$246 057 000 earned by the metal the previous year.
Nickel, the group’s fourth biggest mineral revenue earner, increased its portfolio by 74.5 per cent during the financial year ended 30 June 2022 to US$ 110 974 000 from US$ 63 587 000 earned by the metal in 2021.
Gold revenue for the Platinum Group Metal producer increased by 15.6 per cent to US$57 660 000 in 2022 from US$49 889 fetched the previous year. Gold is Zimplats’ fifth biggest mineral revenue generator.
The group’s sixth biggest earner during the Financial Year ended 30 June 2022 was copper which increased its contribution by 28.9 per cent to US$30 180 000 from US$23 419 000 in 2021. In 2021 copper’s revenue was behind Iridium which fetched US$25 000 000 however, its contribution this year declined by 7.5 per cent to US$23 135 000.
Ruthenium revenue increased by 23.3 per cent during the Financial year ended June 2022 to US$7 337 000 from US$5 949 000 earned the previous year, Zimplats’ financial report shows.
Silver contribution during the Financial year ended 30 June 2022 according to the Financial report decreased by 9.2 per cent to US$374 000 from US$412 000 earned the previous year. Cobalt revenue increased by 118.9 per cent to US$707 000 during the Financial year ended 30 June 2022 from US$323 000 fetched the previous year.
About ZIMPLATS
Zimplats is the leading mining company in Zimbabwe specializing in platinum group metals such as platinum, palladium, rhodium, iridium, ruthenium & osmium.