en.Wedoany.com Reported - Zimbabwe's Mimosa platinum mine is restarting its $130 million North Hill mine life extension project, a company executive said at a mining conference on Thursday. Jointly owned by Impala Platinum and Sibanye-Stillwater, Mimosa is Zimbabwe's second-largest platinum producer after Impala's Zimplats.

The project was suspended in 2024 due to a plunge in platinum group metal (PGM) prices, driven by destocking, weak automotive demand, and strong expectations of electric vehicle (EV) adoption. Since then, PGM prices used in automotive catalysts have recovered, supported by supply constraints in major producer South Africa and slower-than-expected EV adoption.

Mimosa produces approximately 250,000 ounces of PGM concentrate annually. Stephen Ndiyamba, the mine's general manager, said at a mining conference in Victoria Falls that the company is considering extending the mine's life as the South Hill ore body depletes and mining costs rise.

Ndiyamba said the company is currently conducting an internal assessment of a mine life extension project requiring approximately $130 million in capital investment. He added that the plan could potentially replace the existing South Hill operations and extend the mine's life by about 15 years.

South African miners, which account for about 70% of global platinum production, remain cautious about new projects to expand output despite the metal price recovery. Since EVs do not require emission control catalysts, posing a long-term threat, companies including Impala tend to maintain production through life extension projects.

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