Camec optimistic about business in Zimbabwe

LONDON-LISTED mining company Camec who recently acquired platinum assets in Zimbabwe, are making big changes that will see platinum production in the country boosted.

The company says it remains optimistic despite the recent passing of the indigenization law.

Camec bought former Anglo Platinum-owned platinum properties through the acquisition of British firm Lever Finance in April this year.

Camec, which also owns cobalt and copper in the Democratic Republic of Congo (DRC), said it planned to bring a Zimbabwean platinum mine into production within the next 18 months. It was targeting a yearly production of between 120 000 oz and 150 000 oz.

The company has appointed former South Deep chief, Gordon Thompson, to manage and develop its operations.

Thompson was previously vice-president and head of operations at South Africa's South Deep mine, the world's biggest unexploited gold deposit.

Camec also appointed Charlie Foster, previously senior vice-president of Ivanhoe Mines, as head of global exploration.

Foster has managed the Turquoise Hill copper and gold project in Mongolia since January 2001.

Prior to that, he was exploration manager for Yunnan Mining and DiamondWorks in China.

He would be responsible for all the company's exploration projects, which span the DRC, South Africa, Mozambique, Mali and Zimbabwe.