By contrast, Zimbabwean Finance Minister Tendai Biti said last week that the country's mining sector had become the "anchor driver" of Zimbabwe's economy, with the potential to generate up to R124bn a year.
Zimbabwe and South Africa hold 75% of the world's platinum reserves, but South Africa's industry has become bedevilled by labour unrest, high input costs, poor infrastructure and increased government intervention. Foreign investor sentiment has also taken a knock, especially with nationalisation still on the agenda.
According to BDLive, Anglo American Platinum (Amplats), the world's biggest producer, says it is planning a new mine in Zimbabwe, while JSE-listed Impala Platinum (Implats) recorded a surge in first-quarter platinum production from its Zim based Mimosa joint venture project with Aquarius Platinum.
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