[miningmx.com] — ZIMBABWE has accepted the proposals of Impala
Platinum subsidiary, Zimplats, to comply with the country’s indigenisation legislation,
Implats announced on Tuesday.
“Following a meeting between the Zimbabwean Minister of Youth Development,
Indigenisation and Empowerment, and directors of Implats, the new Zimplats
Indigenisation Implementation Plan presented to the Minister meets the minimum
requirements of the Indigenisation and Economic Empowerment Act and 2010
regulations, and is acceptable in principle to the Government of Zimbabwe,” read a
company statement.
“The implementation will be at appropriate value and the details for the transfer of
the 51% shareholding in Zimplats will be addressed by a joint technical team,
comprising Implats, the ministry responsible for indigenisation and the National
Indigenisation Economic and Empowerment Board.”
This was confirmed by an unnamed senior government official who told news agency
Reuters that Zimplats’ proposals met “the requirements of both the economic
empowerment act and the regulations of the act and is deemed acceptable to the
government”.
The company said it was unable to make further comments at this stage.
