Zimbabwe’s largest platinum group metals (PGMs) producer, Zimplats Holdings Limited, has reported a significant drop in final metal production for the quarter ended 30 September 2025, driven mainly by lower head grades and extended furnace repairs, Mines and Mineral Resources can confirm.
By Nyasha Sungiso
According to the company’s latest operational update, total 6E (Platinum, Palladium, Rhodium, Ruthenium, Iridium, and Gold) metal in final product declined to 142,535 ounces. This marks a steep 24% decrease from the 186,946 ounces produced in the previous quarter (June 2025), and a 5% decline compared to the 150,353 ounces recorded during the September 2024 quarter.
This production setback came despite a major safety milestone, with Zimplats reporting zero lost-time injuries, underscoring a quarter of mixed operational performance.
Key Drivers of the Production Decline
The report highlights several factors behind the downturn:
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Lower Head Grades
The 6E head grade dropped 2% year-on-year to 3.30 g/t, largely due to increased production from depleted high-grade pillars at Rukodzi Mine and a higher share of lower-grade ore from the South Pit open-pit operation. -
Reduced Recovery Efficiency
Although ore milled remained steady at 1.98 million tonnes, the concentrator recovery rate fell 4% from the previous quarter to 75.6%. Zimplats attributed this to the lower head grade and “inconsistent ore supply,” leading to a 6% quarterly decline in 6E concentrate production to 158,716 ounces. -
Smelting Disruptions
The most significant impact came from extended repairs to the furnace slag tap hole. This halted the conversion of concentrate into final metal, resulting in an inventory build-up of around 12,600 6E ounces that remained unprocessed during the quarter.
Impact Across All Metals
The challenges affected all major metals in the 6E basket:
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Platinum: down 23% to 66,044 oz
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Palladium: down 24% to 55,828 oz
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Gold: down 27% to 7,423 oz
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Rhodium: down 28% to 5,919 oz
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Ruthenium: down 22% to 4,968 oz
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Iridium: down 18% to 2,353 oz
By-product metals also posted notable declines:
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Silver: down 46% to 11,300 oz
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Nickel: down 31% to 1,326 tonnes
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Copper: down 29% to 1,041 tonnes
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Cobalt: down 22% to 18 tonnes
Compared to the same quarter in 2024, total 6E metal in final product dropped 5%, reflecting a broader downward trend.
Production Expected to Recover
Despite the difficult quarter, Zimplats stressed that the accumulated concentrate inventory is not a loss, but a timing delay. The company confirmed that the backlog “will be smelted during the remainder of the financial year,” indicating that production figures are expected to rebound once furnace repairs are fully completed.
This recovery is anticipated to significantly improve output in the coming quarters as operations stabilise and the smelting process returns to full capacity.