Business / Companies
Anglo American Platinum to submit empowerment plans this week
01 Apr 2012 at 07:23hrs | Views
Anglo American Platinum will this week submit plans to the Zimbabweean government outlining how it will cede control of the Unki mine to black citizens, the state - controlled Herald said, citing Indigenization Minister Saviour Kasukuwere.
Angloplat said that while its Unki mine "is not yet in the same position" as Impala Platinum Holding's operations regarding ceding a stake to the country, Implats' situation is "indicative" of what may happen.
Amplats is in ongoing discussions with the government on the Unki operation's future, Chief Executive Officer Neville Nicolau said in an interview in Johannesburg.
Impala this month agreed in principle to sell 51 percent of its Zimplats unit at a price that hasn't yet been decided. Zimbabwe also accepted a proposal by Impala and Aquarius Platinum Ltd. on handing control of the Mimosa operation to the state, citizens and workers.
Under the Zimbabwe's law, foreign-owned miners must sell or cede 51 percent of their shares to black Zimbabweans or a government-owned fund.
Angloplat said that while its Unki mine "is not yet in the same position" as Impala Platinum Holding's operations regarding ceding a stake to the country, Implats' situation is "indicative" of what may happen.
Amplats is in ongoing discussions with the government on the Unki operation's future, Chief Executive Officer Neville Nicolau said in an interview in Johannesburg.
Impala this month agreed in principle to sell 51 percent of its Zimplats unit at a price that hasn't yet been decided. Zimbabwe also accepted a proposal by Impala and Aquarius Platinum Ltd. on handing control of the Mimosa operation to the state, citizens and workers.
Under the Zimbabwe's law, foreign-owned miners must sell or cede 51 percent of their shares to black Zimbabweans or a government-owned fund.
Source - Byo24News
