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.
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
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