Zimplats Holdings Limited has released its quarterly report for the period ended 30 September 2026, revealing a mixed bag of results. The company’s mined volumes decreased by 5% from the prior quarter, while milled volumes dipped by 4%. However, the 6E head grade remained stable, both quarter-on-quarter and year-on-year.
On the safety front, Zimplats recorded no lost-time injuries (LTI) during the quarter, underscoring its commitment to a zero-harm agenda. Production-wise, 6E metal in concentrate decreased by 5% from the prior quarter but increased by 3% year-on-year.
Operating cash costs per 6E ounce decreased by 1% from the prior quarter but were 5% higher year-on-year. Total operating costs decreased by 16% from the previous quarter, primarily due to lower power consumption during planned furnace ring maintenance.
Exploration activities saw two drillholes completed, totalling 140 metres, aimed at converting Mineral Resources to Ore Reserves and enhancing understanding of key geological structures.
The company’s major projects are progressing well as planned. Mupani Mine’s upgrade is on track to hit 3.6 million tonnes per annum by FY2029, with US$368 million spent against a US$386 million budget. Smelter expansion and SO₂ abatement is progressing, having spent US$480 million of a US$544 million budget. The 45MW Phase 2A solar project is nearing commissioning, boosting solar power to 80MW, with US$45 million spent of a US$54 million budget. Tailings storage facility expansion (Phase 2) is also moving forward, with US$8 million spent against a US$18 million budget.
Financially, 6E metal in final product totalled 138,844 ounces (down 35% quarter-on-quarter), with operating cash costs at US$173.7 million (down 16%). Zimplats balances navigating headwinds with pushing strategic growth initiatives.
Overall, Zimplats is navigating challenges while pushing ahead with strategic projects to drive future growth.
