Zimbabwe has threatened to cancel the mining licence of Zimplats unless it furnishes "acceptable" indigenisation plans by September 25.

Zimbabwe’s Parliament has declared that Mugabe-backed regulations seeking to nationalise foreign companies are "unconstitutional … and absurd".

Zimbabwe’s wealthy political elite is closing in on the country’s large foreign-owned mines.

Zimplats on Tuesday warned its survival was under threat and expected significant losses due to the fall of metals on the international market.

Platinum miner Zimplats Holdings said on Thursday its revenue jumped 57% in the last quarter of 2007 on the back of higher production, but concerns remain over power supply…