HomeBusiness DigestCamec to Start Construction of new Zimbabwe Mine This Year

Camec to Start Construction of new Zimbabwe Mine This Year

A BANKABLE feasibility study at the Bokai platinum prospect in Zimbabwe would be completed by September, with construction of a mine expected to still start this year, Africa-focused emerging mining company Central African Mining & Exploration Company (Camec) said on Thursday.

This followed on an initial feasibility study, which revealed an indicated and inferred mineral resource containing 10,69 million ounces of 4E (platinum, palladium, rhodium and gold).

“These results confirm a significant resource at Bokai and demonstrate the considerable potential for economic recovery of this platinum resource.
We expect to bring Bokai into production by 2012, with construction on the mine likely to begin this year,” commented Camec CEO Andrew Groves.
The London-listed miner expected the stage one reserves to support the production of 163 000 ounces/year of platinum group-metals (PGMs) in concentrate form over a 20-year life-of-mine.
Stage two development would likely double the PGM production, it added in a statement.
The company noted that it had already completed the underground mining layouts, equipment section, production schedules and the PGM concentrator and supporting mine infrastructure designs.
The prospect is owned by Todal Mining, which is 60% owned by London-listed Camec and 40% by the Zimbabwe Mining Development Corporation. — miningweekly.com

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