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Zimplats to appeal land grab

Mar 01 2013 20:02

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Cape Town - Zimplats has been given 30 days to appeal a government directive that the miner give up nearly 28ha of land believed to contain significant mineral claims, reported Business Day.

The 30-day appeal notice which was given to Zimplats was contained in a government gazette published on Friday afternoon, the news agency reported.

"The president intends to acquire compulsorily part of the land held by Zimplats Holdings Ltd under special mining lease," reads part of the government gazette.

Mining Minister Obert Mpofu said in February that nearly 28ha of land leased by miner Zimplats will be taken over by the Zimbabwean government, in a fresh drive to re-allocate assets to local business.

"The ministry will exercise its prerogative to ensure that all idle ground is repossessed and reallocated to other investors," Mpofu said at the time.

In January, Impala Platinum Holding [JSE:IMP] (Implats) sealed a deal to sell a 51% stake in its company Zimplats, under the 2010 law signed by President Robert Mugabe.

The deal will see Impala get $971m (€731m) making it one of the largest empowerment transactions in Zimbabwe to date.

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zimplats  |  implats  |  zimbabwe  |  land grabs
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