Bimha was Zimplats' largest producer, with the others being Mupfuti, Rukodzi and Ngwarati.
It would take the mining giant about four years to recover from the loss.
Zimplats chief executive officer, Alex Mhembere said in a statement that proactive response from the management team led to timely evacuation of all personnel, without giving figures on how many workers were at the mine when it collapsed.
He attributed the collapse to increased deterioration of ground conditions "associated with a major shear, the Mutambara Shear, that transgresses through half of the mining area".
He said no injuries or damage to mobile equipment had been reported.
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