Published by the government of Zimbabwe
13 July 2009
Harare — AFRICA-focused emerging mining company Central African Mining & Exploration Company said last week a bankable feasibility study at the Bokai platinum prospect in Zimbabwe would be completed by September with the construction of a mine still expected to start this year.
This followed 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," said Camec chief executive Mr Andrew Groves last Thursday.
The AIM listed miner expected the stage one reserves to support the production of 163 000 ounces per year of platinum-group metals in concentrate form over a 20-year life-of-mine.
The stage two development would likely double the PGMs production, said the company in a statement.
Camec said it had already completed the underground mining layouts, equipment section, production schedules and the PGMs concentrator and supporting mine infrastructure designs.
Camec shares rose after the announcement. Upon completion, the mine will become the largest platinum in the country. -- Business Reporter-miningweekly.
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