Indigenisation law can be relaxed


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Mines Minister Walter Chidakwa today said platinum mining companies can be allowed majority shareholding if they build a refinery in the country. Platinum is mined by two South African companies, Anglo Platinum and Impala Platinum, which are also the world’s biggest miners. Raw platinum is shipped from Zimbabwe for refining in South Africa. President Robert Mugabe threatened to stop these imports if the companies do not build a refinery, but they say it is not viable. “The government is simply saying that the guiding principle is 51/49 percent but if the investment does something to this country that can convince us to graduate or move away from the 51/49 percent, we will do so,” Chidhakwa said. “And I think that in so far as in establishing a platinum refinery in Zimbabwe is concerned, yes, I think there is that flexibility.”

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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