ZIMPLATS increased its total borrowings from US$60 million to US$64,5 million during the half-year ended December 31, 2024 to finance operations and expansion projects, the company has said.
Accordingly, the company made new drawdowns totaling US$9 million to finance its operations and expansion projects, while also repaying US$3,2 million in debt during the period.
The loans were both sourced from both international and local financial institutions. These funds were primarily used to support capital-intensive projects such as smelter expansion, solar power development, and working capital needs.