• Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

  • Don't fall for Ponzi scams

    An expert unpacks the tell-tale signs to watch out for.

  • Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

Loading...
See More

Zimplats signs away 51% stake

Jan 11 2013 15:04 *Malcom Sharara

Implats CEO Terence Goodlace signs the empowerment deal with Zimabawe's Empowerment Minister Saviour Kasukuwere. (Source: Malcom Sharara/Fin24)

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 58
Change -2
% Change -3
Cumulative volume 3185490
Market cap 0

Last Updated: 30-03-2015 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Implats to sell 51% stake to Zim locals

Zimplats faces huge tax bill

Zimplats fined for banking offshore

Analysts slam Zim mining policy

Implats gives up 51% Zimplats stake

Zim's indigenisation progress hailed

 
Harare - Impala Platinum Holdings [JSE:IMP], the world's second-largest platinum mining company, on Friday afternoon signed away a 51% stake in its Zimbabwe-based operations Zimplats.

The biggest chunk of the stake amounting to 31% will go to the National Indigenisation and Economic Empowerment Fund, 10% will go to the community share ownership scheme, and 10% to an employee share ownership scheme.

Implats was represented by Impala CEO Terence Goodlace, who said the US$971m deal is a win-win partnership between Zimbabwe and his company.

“This partnership can only be successful if there is continued goodwill and sincerity between the parties involved,” said Goodlace in his speech.

He added that the planned Ngezi Phase 2 project worth $400m will continue.

Empowerment Minister Saviour Kasukuwere said the deal was the biggest in Zimbabwe. He urged Zimbabweans to support and defend Zimplats’ business interests.

Kasukuwere said the compliance plans of close to 300 companies were completed in full, while those of about 700 companies were at various stages in the approval process.

 - Fin24

*Malcom Sharara is Fin24's correspondent in Zimbabwe.


 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

NEXT ON FIN24X

 
 
 

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
3 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

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

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...