Indigenisation law can be relaxed


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.”


Don't be shellfish... Please SHAREShare on Google+
Tweet about this on Twitter
Share on Facebook
Share on LinkedIn
Email this to someone
Print this page

Like it? Share with your friends!

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.


Your email address will not be published. Required fields are marked *