Tag Archives: Impala Platinum

Mugabe gives banks a year to hand over stakes

  Zimbabwe has given foreign-owned banks one year to hand over 51 percent stakes to locals, according to a government notice, as President Robert Mugabe ramps up a drive to force all foreign-owned businesses to surrender majority control to blacks. … read more »

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Zimbabwe to act on Implats unit after deadlock: paper

Zimbabwe is set to announce on Wednesday the fate of Impala Platinum’s shareholding in its local unit after latest talks on black ownership ended in deadlock, the state-controlled Herald newspaper said. The government wants Implats, the world’s second-largest platinum producer, … read more »

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Zimbabwe gives Implats ultimatum

Johannesburg – Impala Platinum CEO David Brown will travel to Zimbabwe for talks this week after it gave the company 14 days to transfer to it more than half of Zimplats, according to a report on Monday. About 43% of … read more »

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S.Africa police fire tear gas at rioting platinum miners

South African riot police fired tear gas, rubber bullets and water cannon on Thursday at hundreds of striking miners who went on the rampage at Impala Platinum’s Rustenburg plant, the world’s single biggest platinum mine. At least 50 officers, backed … read more »

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S.Africa’s All-share index hits record high

South Africa’s All-share index hit a lifetime high in early trade on Tuesday, as commodity firms such as Impala Platinum ticked higher, tracking gains in global equities after upbeat economic growth data in China. By 0737 GMT, the All-share index, … read more »

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Zimplats hit with $28 mln royalties bill: paper

Zimbabwe has instructed bankers for Impala Platinum’s local unit Zimplats to pay $28.3 million in outstanding royalty payments, which the platinum miner is disputing, state media reported on Monday. The state-owned Herald newspaper said Zimbabwe Revenue Authority (Zimra) had issued … read more »

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Zimbabwe says no immediate raw platinum export ban

Zimbabwe is considering a ban on raw platinum exports in a bid to force miners to set up refineries in the country, but this move will not take place “overnight”, a government official said on Wednesday. The southern African country … read more »

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Zimbabwe PM says local ownership rule too stringent

Zimbabwe’s local ownership rules for foreign mining companies are too stringent, Prime Minister Morgan Tsvangirai said on Monday. Tsvangirai also told reporters on the sidelines of an Johannesburg agricultural conference that next elections would not be until the second half … read more »

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Zimbabwe deadline for foreign handover looms

Harare – Foreign companies operating in Zimbabwe have until Sunday to hand in plans to sell majority stakes to local blacks, under a law that has alarmed investors, who are uncertain how the rules will work. The government’s order for … read more »

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Zimplats says Zimbabwe moves on licence

The Zimbabwean unit of Impala Platinum, the world’s second-largest producer of the precious metal, said the government had taken steps to revoke its operating licence and it remained in talks with authorities. The government has been trying to get miners … read more »

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Zimbabwe empowerment law on mining “flexible”: minister

which requires foreign miners to transfer 51 percent equity stakes in local entities to black investors is “flexible” and does not aim to seize or nationalise assets, a government official said Thursday. “It is a flexible law and investors are … read more »

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Zimbabwe gives foreign firms 14-day ultimatum

Zimbabwe’s government has given foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits, state media reported on Friday. But central bank governor … read more »

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Wage talks aim to end S.Africa gold, coal strikes

Striking South African coal and gold miners will meet the Chamber of Mines in separate talks on Monday in a bid to end stoppages that have cost Africa’s largest economy tens of millions of dollars in lost output. Coal workers … read more »

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Mugabe says to proceed with foreign firm takeovers

Zimbabwean President Robert Mugabe said on Thursday the government would go ahead with the takeover of foreign companies, a scheme that has rattled investors, and told Western countries to stop meddling in his country’s affairs. Mugabe’s ZANU-PF is at odds … read more »

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