Indigenisation Minister Christopher Mushohwe may not uphold the previous minister’s empowerment credits deal with Impala Platinum’s Zimbabwe unit.
Having been compelled to submit plans to construct base-metal refineries in Zimbabwe, platinum producers have filed their response to government.
Zimbabwe plans to seize 28 000 hectares of land leased to a subsidiary of Impala Platinum the government said were being underutilised.
Implats has taken "legal advice" to protect its rights.
Indigenisation Minister Saviour Kasukuwere and Reserve Bank of Zimbabwe governor Gideon Gono are locked in a battle over indigenisation policy.
As usage outstrips supply, electricity outages are hobbling the country’s corporate sector, writes Tawanda Karombo.
Sixty-five miners are trapped underground at Zimbabwe’s Mimosa mine, which is jointly owned by Impala Platinum and Aquarius Platinum.
There’s still been no deal set in stone on indigenising Impala’s Zimbabwe operation despite the progress that has been made so far.
With the largest foreign investor in Zimbabwe beaten by the government’s equity demands, the rest are expected to fall quickly into line.
The Zimbabwean government and Zimplats have reached an agreement to transfer a 51% stake to local investors, as required by a controversial law.
Zimbabwe has rejected a request by platinum miner Zimplats to extend a deadline to hand over a nearly 30% stake under a contentious equity law.
Zimbabwe has turned down a request from Impala Platinum to extend a BEE hand-over deadline at its Zimplats unit to a state-run fund.
Indigenisation Minister Saviour Kasukuwere has warned Impala Platinum he will take the mine over if it doesn’t comply with Zimbabwe’s BEE laws.
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/ 26 February 2012
Impala Platinum’s Zimbabwe unit has been ordered to transfer 29.5% of its shares to a state-run fund in order to comply with local empowerment laws.
Foreign firms are learning that token deals will not appease Mugabe: Zimbabwe wants them to sell majority interests to locals before elections.
Zimplats has been ordered to pay the Zimbabwean government $28-million in outstanding royalties as it did not revise its contributions since 2009.
Zimbabwe’s politicians are scrambling to gain control of trusts being set up for local communities to take up stakes in large foreign mining companies
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/ 14 September 2011
Zimbabwe says it will not suspend any mining permits and exceptions may be made to laws requiring foreign miners to give majority stakes to locals.
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/ 9 September 2011
Saviour Kasukuwere has ratcheted up his drive for local control of the mining industry by threatening to cancel the operating licence of Zimplats.
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/ 8 September 2011
More than 50 foreign-owned mining firms risk losing their licences after failing to submit acceptable indigenisation plans, media reports say.