Anglo American said it will review its assets after a 94% plunge in annual profit.

The country's biggest mining investors are halting plans to spend billions of rand on new projects in response to a slump in profits.

Anglo American Platinum's profit plunged by 71% last year.

Last week, palladium had fallen below platinum for the first time since 2018.

The new resource includes 813 million tonnes of indicated material grading 0.29% nickel equivalent.

Nornickel expects a further decline in its nickel and palladium output this year, due to geopolitical risks and postponed furnace repairs.

Kuvimba holds some of Zimbabwe’s best mining assets, which were once owned by a company controlled by US- and UK-sanctioned tycoon Kudakwashe Tagwirei.