[miningmx.com] – ZIMBABWE planned to proceed with the expropriation of platinum mines, but it would compensate bank owners following a plan to take control of financial institutions in the country, Bloomberg News reported.
“When it comes to natural resources, Zimbabwe will not pay for her resources,’ said Saviour Kasukuwere, the minister for indigenisation, empowerment and youth. Indigenisation is the name of the policy to seize control of foreign-owned assets in Zimbabwe.
“If they don’t want to follow the law that’s their problem.’ Non-compliant mine owners risk losing their licenses,” Bloomberg News quoted Kasukuwere to have said.
Kasukuwere had earlier agreed to buying 51% of the platinum mines in Zimbabwe owned by companies including Impala Platinum, Aquarius Platinum and Anglo American Platinum.
He has since said there were ‘mistakes’ in those agreements after Zimbabwe president, Robert Mugabe said the country would not be paying for the shares.
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