• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
See More

Zim yet to conclude Zimplats terms

Mar 23 2012 09:11

Company Data


Last traded 50
Change 2
% Change 5
Cumulative volume 1788266
Market cap 0

Last Updated: 26-05-2016 at 03:46. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Analysts slam Zim mining policy

Implats surrender boosts Zanu-PF for poll

Implats' cave-in

Implats gives up 51% Zimplats stake

Implats denies Zimplats offer

Implats, Zim dispute deepens


Harare - Zimbabwe and mining firm Zimplats have yet to settle the details of a deal in which the company is to cede a 51% stake to local investors, a cabinet minister said Thursday.

"We agreed in principle but there must be an evaluation of assets and resources," Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere told journalists at an investment conference in Harare.

"At the end of the day we want a win-win situation. We are on track and on course on the realisation of the law. We want a fair share of what belongs to us and discussions are ongoing at the moment."

Zimplats, the local unit of the world's second-largest platinum producer Impala Platinum Holdings [JSE:IMP], reached a deal with the Zimbabwe government that will see the company give 10% ownership to its workers, another 10% to a community trust near its mine, and 31% to the government's Indigenisation and Economic Empowerment Fund.

But under the controversial local ownership law championed by long-ruling President Robert Mugabe, the government must pay for the shares it receives - something the cash-strapped Treasury has not budgeted this year.

Impala said last week that the agreement only stipulated "that the shares sales would be at appropriate value".

Two weeks ago the Zimbabwean government threatened to nationalise Zimplats for non-compliance with the regulations.

The deal is being closely watched by other foreign companies, including banks and retailers, as a bellwether of Zimbabwe's investment climate and the security of their own operations.

Mugabe's partner in the unity government, Prime Minister Morgan Tsvangirai, has warned that the law passed two years ago would discourage investment.



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote