Articles tagged 'mimosa'

Mimosa revenue dips 32 percent 13 February 2016 HARARE - Platinum producer Mimosa says its revenue declined by 32 percent to $99 million in the half year to December 2015 due to lower metal prices. This comes as mining companies have sought to maximise lower-cost output as the commodities downturn has deepened. From $1,221 per ounce a ye...
Mimosa, govt in talks over platinum tax 29 January 2016 HARARE - Platinum miner Aquarius Platinum Limited (Aquarius) — a 50 percent shareholder in Zimbabwe’s second largest platinum producer, Mimosa — is in talks with government over the official gazetting of amendments to export tax on un-beneficiated platinum. In a statement accompanying the grou...
Mimosa seeks $82m for expansion 9 November 2015   HARARE - South Africa’s platinum producer, Aquarius Platinum Limited, says it is seeking $82 million for a planned expansion programme at its Zimbabwean subsidiary Mimosa Platinum Mines (Mimosa).   This comes after a feasibility study was conducted early this year to determine the Zvishava...
RBZ to pay $57m Mimosa debt 13 August 2015 HARARE - Platinum miner, Mimosa Mine (Mimosa), is set to be paid $57 million owed to it by the Reserve Bank of Zimbabwe (RBZ) following the tabling of the Debt Assumption Bill in Parliament, the group said. This comes after the central bank raided Mimosa’s Foreign Currency Accounts between 200...
Aquarius optimistic of 15pc platinum tax review 30 April 2015 HARARE - Aquarius Platinum Limited (Aquarius) is optimistic Zimbabwe will review the recently-imposed 15 percent tax on raw platinum exports to allow mining companies to remain viable. In the company’s quarterly results to March 2015 released yesterday, Jean Nel, Aquarius chief executive, said...
Aquarius engages Zim over platinum tax 13 February 2015 HARARE - Aquarius Platinum Limited (Aquarius) — a 50 percent shareholder in Zimbabwe’s second-largest platinum producer, Mimosa Mining Company (Mimosa) — says it has engaged government over the recently-imposed 15 percent tax on raw platinum exports. In its half year to December 31, 2014 resul...
Aquarius engages Zim on taxes 3 October 2014 HARARE - Aquarius Platinum — 50 percent shareholder in Mimosa Mining Company (Mimosa) — has engaged the Zimbabwean government over proposed tax hikes. This comes as the hard pressed President Robert Mugabe-led government has proposed and implemented various tax measures aimed at boosting its r...
Zim mining sector feels economic heat 13 August 2014 HARARE - Shares in mining companies operating in Zimbabwe are falling sharply amid a deepening crisis triggered by President Robert Mugabe’s landslide victory in last year’s  presidential election. Zimbabwe is the world’s second-largest producer of platinum after South Africa, and is also an i...
Mimosa plans $ 20m capex 12 August 2014 HARARE - Zimbabwe’s second largest platinum producer Mimosa Mining Company (Mimosa) plans an at least $20 million capital expenditure in the next five years. The miner — owned by Aquarius and Impala Platinum Holdings in a 50:50 percent joint venture — plans to ramp up platinum production by an...
Mimosa ramps up production 10 August 2014 HARARE - Zimbabwe's second-largest platinum producer Mimosa mine’s platinum group metals (pgm) output increased marginally in the fourth quarter to 60 000 ounces from 51 907 ounces recorded in the third quarter. This resulted in Mimosa recording 111 000 ounces in the full year to June 2014 — t...
Mimosa retrenches 137 8 August 2014 HARARE - Zimbabwe’s second-largest platinum producer Mimosa Mining Company (Mimosa) — jointly owned by Aquarius and Impala Platinum Holdings — has retrenched 137 workers as part of strategies to contain costs. The employees, 103 ordinary and 34 managers, were laid off under a voluntary retrenc...
Mimosa revenue up 26 percent 27 July 2014 HARARE - Aquarius Platinum (Aquarius)’s Zimbabwean unit Mimosa Mine revenue increased by 26 percent to $79 million in the quarter to June 2014 from $63 million realised in previous comparable period. During the period, gross cash profit margin increased to 30 percent from 26 percent. Produc...
Mimosa sends relief supplies to flood victims 21 February 2014 HARARE - Mimosa Mining Company has donated foodstuffs to the victims of the Tokwe-Mukorsi Dam flooding incident. The Zvishavane-based platinum miner donated maize meal, cooking oil and sugar beans and exercise books for children displaced by the flood. Over 60 000 people have been left strand...
Zim regulatory uncertainity haunts Aquarius 2 February 2014 HARARE - South Africa-based Aquarius Platinum Limited (Aquarius) says regulatory uncertainty in Zimbabwe continues to hamper its expansion plans in the country. The miner, holding a 50 percent stake in a joint venture with Impala Platinum Holdings, Mimosa Mining Company (Mimosa), said the coun...
Depressed metal prices hit Mimosa 28 October 2013 HARARE - Mimosa Platinum Mines (Mimosa) revenue in the first quarter of the 2014 financial year slumped by 20 percent to $56 million, due to depressed dollar metal prices. Cash margins for the Zvishavane-based Mimosa — which is jointly owned by Impala Platinum and Aquarius Platinum (Aquarius) ...
Aquarius 'drags heels' on Zim 9 August 2013 HARARE - London Stock Exchange-listed Aquarius Platinum (Aquarius) says it will decide on further investing in its Zimbabwean unit Mimosa Mining Company (Private) Limited (Mimosa) around 2015 to 16. While the group's chief executive Jean Nel did not comment explicitly on the implementation of ...
Mimosa indigenised 15 December 2012 HARARE - Platinum miner Mimosa has unveiled its indigenisation plan by ceding a 51 percent stake worth $556 million to locals. By signing an agreement or term sheet outlining the implementation of its enhanced empowerment plan with government yesterday, the southern Zimbabwe miner complied with t...
Mimosa acts on metal pricing 12 September 2012 HARARE - As global platinum prices continue to decline, Zimbabwe s second-largest platinum producer Mimosa Mine (Mimosa) plans to cut down on production costs to cushion its operations. This follows Zimbabwe Platinum Mines pricing concerns at its half-year results presentation at the end of Augus...