Zimplats Weighs Reopening Mothballed Mine as Platinum Prices Rebound

Zimplats Weighs Reopening Mothballed Mine as Platinum Prices Rebound

The platinum market has experienced a remarkable turnaround in 2025, with prices surging 36% in the second quarter alone. This dramatic price recovery has prompted Impala Platinum's Zimbabwean subsidiary, Zimplats, to reconsider the economic viability of its long-dormant Hartley mine. After more than two decades of inactivity, the company is conducting feasibility studies to determine if modern mine planning can overcome the operational challenges that led to the mine's closure in 1998.

What is Driving the Hartley Mine Reopening Consideration?

“Zimplats is conducting studies and trials to develop a safe and efficient mechanized mining method for reopening the mine,” stated Thandi Orleyn, Impala Platinum's board chairperson, during a recent industry conference. This statement confirms the company's serious evaluation of the project's viability amid favorable market conditions.

The Hartley mine's troubled history dates back to the late 1990s, when operational difficulties and production shortfalls led to its closure. Despite containing significant platinum reserves, the mine's complex geology presented substantial extraction challenges that proved insurmountable with the technology available at that time.

Industry analysts point to three key factors making the reopening viable now:

Sustained price recovery – Platinum's 36% price surge has dramatically improved project economics

Technological advancements – Modern mechanized mining methods can potentially overcome historical challenges

Infrastructure investments – Zimplats' recent completion of power and processing facilities creates operational synergies

“The Hartley reopening represents not just a response to higher prices, but a strategic bet on long-term platinum demand fundamentals,” notes mining analyst Tendai Mushore from Standard Bank. “The technical challenges that shuttered this operation in 1998 look increasingly solvable with today's mining technology.”

While the company has not announced specific production targets or timelines, the ongoing feasibility studies focus on developing safe, mechanized mining methods specifically tailored to the Hartley deposit's geological characteristics.

How Has the Platinum Market Transformed in 2025?

The platinum market has undergone a remarkable transformation in 2025, rebounding from a prolonged slump that forced major producers to suspend projects and implement aggressive cost-cutting measures across their operations.

Market Drivers Behind the Platinum Rally

The 36% price increase in Q2 2025 has been driven by multiple factors converging simultaneously:

Supply constraints from South Africa, which accounts for approximately 70% of global platinum production

Significant increase in Chinese platinum imports, reflecting industrial demand recovery

Inventory drawdowns by major consumers after years of stockpile accumulation

Renewed investment interest from both institutional and retail investors