Zimbabwe Tells Platinum Producers to Refine Locally Within Two Years

Reuters reported that the Zimbabwe government is giving platinum producers two years to start refining the precious metal locally, which could prove to be a tough requirement as refineries are very costly and will take a much longer time to build due to skills shortage.

As quoted in the market news:

Zimbabwe has long pressed the platinum industry to build a refinery. The sector has said it has long-term plans to so but the current output of below 300,000 ounces annually does not justify the expense, estimated at $2 billion.

Click here to read the full Reuters report.