Zimbabwe: Zimplats Suffers Maiden Annual Loss

31 August 2009

Harare — THE country's leading platinum producer, Zimplats recorded its first ever annual loss when it posted an attributable loss for the year to June of US$25 million compared to the prior year's profit of US$124,4 million.

According to the company, the loss came despite marginally higher sales volumes. "The steep fall in metal prices from mid-2008 resulted in a 59 percent decrease in turnover from US$294,2 million for the previous year, to US$120,3 million.

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