Implats, through its Zimbabwean subsidiary Zimplats, has agreed to release land measuring 23,903 hectares to Government, in support of Government’s efforts to enable participation by other investors in the platinum mining industry.
Implats has regularly kept the market informed of developments with regards to the Government’s intention to compulsorily acquire land measuring 27,948 hectares within
its subsidiary Zimplats’ special mining lease area.
“Implats is pleased to advise that Zimplats has agreed to release to the Government land measuring 23,903 hectares within Zimplats’ mining lease area, in support of the Government’s efforts to enable participation by other investors in the platinum mining industry in Zimbabwe,” said Implats in a statement.
Following this release of ground, Zimplats now holds two separate and non-contiguous pieces of land measuring in aggregate 24,632 hectares. Consequently, the operating subsidiary applied for, and was granted with effect from 31 May 2018, two separate mining leases over the two pieces of land, measuring 6,605 hectares and 18,027 hectares, respectively.
The smaller area hosts the historical Hartley mining area as well as Selous Metallurgical Complex, while the other area hosts the Ngezi mining operations, including the
future portal 10 mining area.
These mining leases replace the special mining lease held by Zimplats, which was due for renewal in August 2019.
The two mining leases issued to Zimplats’ operating subsidiary are valid for the life of Zimplats’ mining operations and secure the operating subsidiary’s mining tenure.