Zimplats hands over disputed land to Zim government | Fin24
 
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Zimplats hands over disputed land to Zim government

Jun 07 2018 13:32
Crecey Kuyedzwa

Harare - Zimplats, the Zimbabwean unit of Impala Platinum (Implats), has agreed to release land measuring 23 903 hectares to the Zimbabwean government, ending a protracted wrangle that lasted five years.

In March 2013, the Zimbabwean miner advised its stakeholders that it had received a notice from the government of Zimbabwe with regards to its intention for the compulsory acquisition of land measuring 27 948 hectares within Zimplats’ special mining lease area.

Zimplats, however, disputed the compulsory acquisition and took the matter to court while at the same time continuing to engage the government on the matter.

But the miner announced in March 2018 that it “has agreed to release to the government land measuring 23 903 hectares within Zimplats’ mining lease area”.

This, said the miner, “is in support of the government’s efforts to enable participation by other investors in the platinum mining industry in Zimbabwe”.

“Following this release of ground, Zimplats now holds two separate and non-contiguous pieces of land measuring in aggregate 24 632 hectares,” said the miner in a statement seen by Fin24.

“Consequently, the operating subsidiary applied for and was  granted with effect from May 31 2018, two separate mining leases over the two pieces of land measuring 6 605 hectares and 18 027 hectares respectively. 

“These mining leases replace the special mining lease which was due for renewal in August 2019,” said the platinum miner.

The two mining leases issued to the operating subsidiary are valid for the life of mine of Zimplats’ mining operations, and they secure the operating subsidiary’s mining tenure.

The platinum mining sector in Zimbabwe has been attracting new investors ,with South Africa’s Tharisa Minerals also eyeing a stake in a $4.2bn platinum mine.

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zimplats  |  implats  |  zimbabwe  |  mining  |  platinum
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