PLATINUM miner Zimplats Holdings Limited channelled the bulk of its capital expenditure in the third quarter ended March 31, 2026, into renewable energy, investing US$10 million in its solar expansion project as it prioritises a stable power supply and lower energy costs.
The investment increased cumulative spending on the project to US$34 million as the miner moves to lift installed solar generation capacity to 80 megawatts (MW) from the current 35MW.
The move underscores Zimplats’ strategy to diversify its energy mix, reduce reliance on the national grid, manage rising electricity costs, and cut its carbon footprint, while safeguarding long-term production.
The 35MW solar plant marks the first phase of a broader 185MW solar project designed to mitigate power supply risks and improve energy security for the group’s operations.
The latest outlay reflects an increase from the half-year ended December 31, 2025, when the miner reported cumulative capital expenditure of US$24 million on the solar project.
“Forty-five-megawatt Phase 2A solar project: Project implementation is progressing as planned and is on track for completion in H1 FY2027, increasing total installed solar generation capacity to 80MW from 35MW,” Zimplats said in its third quarter report for the period ended March 31, 2026.
“Cumulative spend reached US$34 million at period end against a budget of US$54 million.”
The increased expenditure exceeded spending on some of the miner’s other major capital projects during the period.
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On the Mupani Mine development, Zimplats said project implementation remains on track to achieve full-scale production of 3,6 million tonnes per annum by FY2029.
“Cumulative spend reached US$360 million at period end against a budget of US$386 million, with key underground infrastructure advancing as planned,” it said.
Meanwhile, the Zimplats Smelter expansion and SO₂ abatement project saw the miner increase its expenditure by US$2 million.
“Implementation of the outstanding scope continued as planned, with cumulative expenditure of US$468 million against a budget of U$544 million at period end,” Zimplats said.
The expenditure represents a slight increase from the US$466 million recorded at the end of the half-year.
The new furnace is expected to significantly boost smelting capacity, increasing concentrate processing from 135 000 tonnes annually to about 380 000 tonnes, while converter matte output is projected to rise from roughly 535 000 6E ounces to 1,1 million 6E ounces per year.
Zimplats said cumulative spending on the SMC Base Metal Refinery refurbishment stood at US$36 million at period end, against a budget of US$190 million.
No additional expenditure was recorded for this project in the first half of the year.
The miner also reported that Phase 2 of its tailings storage facility (TSF) expansion project at the Selous Metallurgical Complex progressed well in the period.
“Together with phase 1, which is now complete, the expansion will secure concentrator operations through to FY2049,” Zimplats said.
“Once completed, the TSF will cover a total of 30 hectares. Cumulative expenditure on Phase 2 reached US$8 million at period end against a budget of US$18 million.”
These capital projects, together with the increased investment in the solar plant, are expected to support long-term production growth.
“Final metal production of 76 340 6E ounces decreased by 56% quarter-on-quarter and 46% year-on-year due to maintenance performed on the smelter in February 2026,” Zimplats said.
“Matte tapping resumed in March 2026 and accumulated concentrate stocks of about 63 000 6E ounces are expected to be processed by the end of FY2026.”
“Matte tapping resumed in March 2026 and accumulated concentrate stocks of circa 63 000 ounces, 6E are expected to be processed by FY2026 year-end.”
