Articles tagged 'alex mhembere'

Forex shortages hurt miners 1 October 2018 HARARE - Foreign exchange restrictions via a government directive to control 85 percent of receipts were hammering precious metals miners in Zimbabwe, said executives at platinum group metal (PGM) and gold mining companies who added that the restrictions meant they only realised a portion of the ...
Zimplats gets $9,6m tax relief 22 September 2018 HARARE - PGMs producer Zimplats Holdings (Zimplats) has been granted a $9,6million tax reversal judgment in a customs duty case against the Zimbabwe Revenue Authority  The country's largest platinum miner had filed a suit with the High Court of Zimbabwe challenging the validity of the tax bill...
Govt pays Zimplats debt 2 December 2016 HARARE - Australia Stock Exchange-listed platinum miner, Zimplats, yesterday said it has finally been paid the $34 million debt it was owed by the central bank. The money was taken from Zimplats' bank account years back by the Reserve Bank of Zimbabwe (RBZ) and used for quasi-fiscal activities...
Zimplats capital expenditure reaches $1,3bn 5 September 2015 HARARE - Zimplats -- Zimbabwe's largest platinum producer -- has spent over $1,3 billion on its operations in the country in the past 13 years, businessdaily has learnt. Its annual integrated report released on Wednesday, the platinum miner said it has also paid $513 million to government in t...
Zimplats loses $30m tax challenge 28 March 2015 HARARE - Impala Platinum (Implats)' Zimbabwean unit Zimplats has lost its High Court challenge of a $29,6 million additional profits tax (ATP) bill imposed by the country's revenue collector. Alex Mhembere, Zimplats chief executive, on Thursday said “the effect of the judgment is that (the gro...
Uncertainty grips 150 Zimplats workers 25 August 2014 HARARE - The future remains uncertain for 150 mine workers at Zimplats following the permanent closure of Bimha Mine last week. Zimplats, which is 87 percent-owned by South Africa’s Impala Platinum Holdings (Implats), last week announced that it has ceased operations at its Bimha Mine followin...
Zimplats shuts Bimha Mine 21 August 2014 HARARE - Zimbabwe's largest platinum producer, Zimplats, could lose up to $100 million following the closure of its Bimha Mine. Alex Mhembere, chief executive of the Australia Stock Exchange-listed firm yesterday said the mine, which collapsed last month, would be indefinitely shut down “in or...
We will not borrow: Zimplats 7 August 2014 HARARE - Impala Platinum Holdings (Implats)’ Zimbabwean unit Zimplats says it will not borrow to bankroll the resuscitation of its collapsed Bimha Mine (Bimha), but use internal funds. In mid-July, Bimha — the largest of Zimplats’ four mines — collapsed, affecting nearly 50 percent of the mine...
Zimplats to import power 1 August 2014 HARARE - Zimbabwe's largest platinum producer Zimplats says it will import electricity from the region to power its base metals refinery if it fails to secure enough supply locally. The miner — 87 percent owned by South Africa-based Impala Platinum Holdings — plans to invest up to $690 million...
Zimplats to modify collapsed mine 25 July 2014 HARARE -  Zimbabwe’s largest platinum producer Zimplats plans to construct two declines that enable access to an underground ore belt following the collapse of its Bimha Mine (Bimha). The move is aimed at meeting the miner’s target to produce two million tonnes of platinum ore per annum. Ho...
Zimplats: No progress on land challenge 17 January 2014 HARARE - Zimbabwe Platinum Mines (Zimplats) – a subsidiary of South African miner Impala Platinum Holdings (Implats) – says there are no developments on its legal challenge of their land compulsorily acquired by government.  Last March, the State repossessed 27,948 hectares of land held by Zim...
Why miners wont let Zim go 23 September 2013 HARARE - Zimbabwe may be a difficult place for mining firms to invest new capital at the moment, but those with their feet already atop its rich soil are sticking around. They think it is better to brave the current political uncertainties and regulatory constraints than quit, the country's hi...
Zimplats revenue slumps 31 August 2013 HARARE - Zimbabwe Platinum Mines Limited (Zimplats) recorded a marginal decline in revenue to $472 million in the year ended June 2013 down from $473 million realised in comparable period on the back of rising costs and depressed metal sales. The group, led by chief executive Alex Mhembere, sa...
Zimplats profits slump 5 August 2013 HARARE - Zimbabwe Platinum Mines Limited (Zimplats) recorded a 66 percent slump in operating profit to $22,5 million in the quarter ended June 30, 2013 due to lower sales volumes and depressed metal prices. The platinum group metals producer (PGMs), led by chief executive Alex Mhembere, said r...