Business / Companies
Zimplats has 14 days to give reasons why licence should not be cancelled
23 Aug 2011 at 10:05hrs | Views
Implats has also confirmed that Zimbabwe Platinum Mines and its joint venture, Mimosa Platinum received letters dated 17 August 2011 from the Zimbabwean Minister of Youth Development, Indigenisation and Empowerment informing the Companies that their Indigenisation Plans had been rejected.
Impala Platinum Holdings said in a statement "Zimbabwe Platinum Mines has been given 14 (fourteen) days to provide the Minister with reasons as to why its business operation licence should not be cancelled, whereas Mimosa Platinum has been given 14 (fourteen) days to submit a revised Indigenisation Plan".
Discussions between management and the relevant authorities in this regard are on-going and shareholders will be advised of any future developments.
Shareholders should note that several other companies from the mining, financial and industrial sectors, have received similar letters to the ones received by the Companies.
Impala Platinum Holdings said in a statement "Zimbabwe Platinum Mines has been given 14 (fourteen) days to provide the Minister with reasons as to why its business operation licence should not be cancelled, whereas Mimosa Platinum has been given 14 (fourteen) days to submit a revised Indigenisation Plan".
Discussions between management and the relevant authorities in this regard are on-going and shareholders will be advised of any future developments.
Shareholders should note that several other companies from the mining, financial and industrial sectors, have received similar letters to the ones received by the Companies.
Source - Byo24News
