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London - Aquarius Platinum [JSE:AQP] said on Monday its Zimbabwean joint venture Mimosa is still in talks with Harare and hopes to meet a key deadline after its indigenisation plan, or plan to transfer stakes to local owners, was rejected last week.
Zimbabwe's government last week gave foreign companies including miners and banks a 14-day ultimatum to submit plans or risk losing their permits.
Mimosa is Aquarius Platinum's joint venture with Impala Platinum Holdings [JSE:IMP].
"Mimosa's senior management remains in discussions with all of the various relevant Zimbabwean authorities in order to ensure that a satisfactory position is arrived at within the timeframes required by the relevant legislation," Aquarius said in a statement.
Zimbabwe's coalition government set up by President Robert Mugabe and his rival Prime Minister Morgan Tsvangirai two years ago is divided over the implementation of the empowerment law, enacted in 2008 and championed by the president's Zanu-PF party.
Tsvangirai has warned that the law threatens Zimbabwe's economic recovery, which started after the formation of the power-sharing government in 2009, following a decade in which GDP shrank by as much as 50%, according to official figures.
Zimbabwe's government last week gave foreign companies including miners and banks a 14-day ultimatum to submit plans or risk losing their permits.
Mimosa is Aquarius Platinum's joint venture with Impala Platinum Holdings [JSE:IMP].
"Mimosa's senior management remains in discussions with all of the various relevant Zimbabwean authorities in order to ensure that a satisfactory position is arrived at within the timeframes required by the relevant legislation," Aquarius said in a statement.
Zimbabwe's coalition government set up by President Robert Mugabe and his rival Prime Minister Morgan Tsvangirai two years ago is divided over the implementation of the empowerment law, enacted in 2008 and championed by the president's Zanu-PF party.
Tsvangirai has warned that the law threatens Zimbabwe's economic recovery, which started after the formation of the power-sharing government in 2009, following a decade in which GDP shrank by as much as 50%, according to official figures.
