SA platinum groups scramble to avoid Zimbabwe levy

South African platinum groups in Zimbabwe are scrambling to avoid a 5% tax on unprocessed platinum, with units of Impala Platinum, Anglo American and Sibanye writing to the government to defer the levy.

Implementation of the tax was deferred in 2020 pending the setting up of refinery facilities, especially by Zimplats – the Zimbabwe unit of Impala Platinum – to meet government demands for mineral value addition.

With Zimplats committing some funds to its refinery project in Zimbabwe last year and Unki mine – operated by Anglo American Platinum - also investing into a ramp-up programme for its smelter facility, the platinum groups in Zimbabwe now feel they are well on course to localise platinum beneficiation.