• 4 minutes Some Good News on Climate Change Maybe
  • 7 minutes Cuba Charges U.S. Moving Special Forces, Preparing Venezuelan Intervention
  • 12 minutes Washington Eyes Crackdown On OPEC
  • 15 minutes Solar and Wind Will Not "Save" the Climate
  • 26 mins is climate change a hoax? $2 Trillion/year worth of programs intended to be handed out by politicians and bureaucrats?
  • 11 hours Why Trump will win the wall fight
  • 18 hours Prospective Cause of Little Ice Age
  • 7 hours students walk out of school in protest of climate change
  • 18 hours L.A. Mayor Ditches Gas Plant Plans
  • 1 min Ayn Rand Was Right
  • 19 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 9 hours Maduro Asks OPEC For Help Against U.S. Sanctions
  • 2 days Is the Green race a race from energy dependence.
  • 1 day IT IS FINISHED. OPEC Victorious
  • 22 hours And for the final post in this series of 3: we’ll have a look at the Decline Rates in the Permian
Alt Text

Rosneft Boss Wants Russia Out Of OPEC Deal

Rosneft’s chief executive Igor Sechin…

Alt Text

Maduro Says Oil Output Will Rise By 1 Million Bpd

Venezuela’s President Nicolas Maduro has…

Alt Text

Oil Market Tightens On OPEC Cuts

Oil prices rose on Tuesday…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

The Major Making A Huge Platinum Investment In Zimbabwe

Very surprising news yesterday from one of the world’s most important — and most difficult — mining jurisdictions. The platinum-rich nation of Zimbabwe.

The big revelations here came from major platinum producer Anglo American Platinum (Amplats), which said that it is progressing with a plan to make a major investment in the country for upgrading and processing platinum.

Amplats officials told local press they have just received approval from the Zimbabwe government for the first step of a platinum smelting plant. With the country’s Environmental Management Agency signing off on an environmental impact assessment for the project.

Amplats said that with this key approval in hand, they are now moving ahead with smelter construction. With mine general manager Walter Nemasase quoted as saying, “We have plans to construct a new smelting plant at our mining site. The deliberations have been made. The construction is likely to take 18 to 24 months depending on the flow of capital.”

Nemasase did note that construction has not yet begun in earnest. Saying that Amplats is working on “technical issues” related to the project. But nonetheless, it appears that Amplats is serious about moving forward with this major project.

That’s a very significant step for the Zimbabwe platinum sector. With the government here pushing platinum producers for the last few years to build processing plants in country (right now, platinum ores are railed to South Africa for processing). Related: Oil Continues To Tumble Over Market Uncertainty

Most recently, the government had even threatened to impose high taxes — or perhaps even shut down mines — if companies didn’t comply with building smelters. But even then, it was unclear if any producers in the country would be willing to put down the millions, or perhaps even billions, needed for such a project.

But this week’s news suggests Amplats believes Zimbabwe’s platinum is important enough to spend money on. Which makes sense, given this is one of only two nations outside Russia that produce primary platinum in any quantity.

Watch for more news on when Amplats will commence smelter construction, and what the capital costs will be. And to see whether other producers in the country like Implats and Aquarius will follow suit.

Here’s to betting on the baddies,

By Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • George W Bush on June 29 2016 said:
    The tone of this article clearly shows someone isn't happy that platinum will soon stop being exported in raw form. Tough titty boys. The country has the right - and every country should exercise that right - to pursue value addition. Tough titty

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News