Anglo American Platinum-owned Unki Mine has temporarily put on hold its expansion plans as a result of the fall in price of platinum on the world market, a company official has said.
Stephen Chadenga OWN CORRESPONDENT
The price of platinum fell from $1 500 to $1 300 per ounce on the world market because of reduced demand.
Unki Mine general manager Walter Nemasasi said the company would now concentrate on finishing its $25 million housing project for employees before embarking on other big programmes.
“Our focus is now on completing the $25 million housing project for our workers that is already underway at Impali Source farm in Shurugwi. Once the price of platinum picks up then we could always explore other avenues in our expansion programme,” Nemasasi told journalists at a Press briefing in Gweru on Sunday.
Anglo-American invested $350 million at Unki Mine and the platinum giant has been operational since 2011 producing 120 000 tonnes of ore per month.
In 2012, the mine produced 1,54 million tonnes of ore.
