Anglo Platinum to hand over 10% stake in Unki project to locals

World number one platinum miner Anglo Platinum on Wednesday announced it will hand over a 10% stake in its Unki project in Zimbabwe to locals, the first step towards compliance with the country's empowerment law, state radio reported.

President Robert Mugabe, who is driving the law which seeks to transfer majority ownership of all foreign-owned firms - including mines and banks - to locals, officiated at the event held at Unki, Shurugwi, about 350 kilometres south of the capital.

Unki, which began mining operations at the beginning of 2011, produced 22 400 ounces of platinum in the first half and is on course to produce 60 000 ounces in the full year.