[miningmx.com] – ZIMPLATS, the Zimbabwe platinum producer in which Impala Platinum currently has an 87% stake, said it was edging towards completion of two indigenisation transactions, said BDLive.
Alex Mhembere, CEO of Zimplats, said the first deal – the transfer of 10% of the firm’s shares to employees – would be completed by March. The second, involving another 10% of shares, would be transferred to communities near the firm’s mines.
“We’re almost done with the employee share ownership trust,” Mhembere told BDLive. “It’s in the final stages of approval from the Reserve Bank of Zimbabwe. It’s been approved by the government,” he said.
In terms of Zimbabwe’s indigenisation laws, Zimplats is required to transfer a further 31% of the company. Mhembere declined to comment on this part of its indigenisation obligations.
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