Opinion / Blogs
Indigenisation: Zimbabwe has much to lose as Implats
12 Oct 2011 at 10:28hrs | Views
WITH the final countdown underway on the Zimbabwe indigenisation saga, Brendan Ryan who writes for miningmx and hold shares in Impala Platinum says, let's take a hard look at what's at stake come November 15 when Zimplats is due to submit its final proposal to government.
If it all goes pear-shaped the losers will include Impala Platinum (Implats) - which owns 87% of Zimplats - but also what's left of the Zimbabwean economy, as well as a host of mining companies trying to get projects off the ground in the rest of Africa.
Other African countries will be watching the outcome closely and they will draw their own conclusions over what is possible if the Zimbabwe government gets away with its latest demands.
Those include reneging on contracts previously struck with Implats and grabbing 51% of the assets of all the mining companies operating in the country.
Zimbabwe's politicians should realise they have as much to lose here as Implats.
A negative outcome would destroy the country's last remaining chance of staging a worthwhile economic recovery based on the large scale development of its platinum group metals (PGM) mining sector.
It would be the mining equivalent of the earlier disastrous farming land grab which transformed Zimbabwe from a bread basket into a basket case in a matter of years.
CLICK HERE FOR THE FULL ARTICLE
If it all goes pear-shaped the losers will include Impala Platinum (Implats) - which owns 87% of Zimplats - but also what's left of the Zimbabwean economy, as well as a host of mining companies trying to get projects off the ground in the rest of Africa.
Other African countries will be watching the outcome closely and they will draw their own conclusions over what is possible if the Zimbabwe government gets away with its latest demands.
Those include reneging on contracts previously struck with Implats and grabbing 51% of the assets of all the mining companies operating in the country.
Zimbabwe's politicians should realise they have as much to lose here as Implats.
A negative outcome would destroy the country's last remaining chance of staging a worthwhile economic recovery based on the large scale development of its platinum group metals (PGM) mining sector.
It would be the mining equivalent of the earlier disastrous farming land grab which transformed Zimbabwe from a bread basket into a basket case in a matter of years.
CLICK HERE FOR THE FULL ARTICLE
Source - www.miningmx.com
All articles and letters published on Bulawayo24 have been independently written by members of Bulawayo24's community. The views of users published on Bulawayo24 are therefore their own and do not necessarily represent the views of Bulawayo24. Bulawayo24 editors also reserve the right to edit or delete any and all comments received.
