HARARE Feb 20 (Reuters) – Impala Platinum
said on Monday it is “concerned” by comments from a Zimbabwean
government minister suggesting it should further sell its stake
in its Mimosa joint venture with Aquarius Platinum.
Impala also said in a statement it had not received any
official notification from the Zimbabwe government directing it
to divest from Mimosa, a platinum miner.
Zimbabwe’s empowerment minister, Saviour Kasukuwere, told
the state-controlled Sunday Mail it would be “ideal” for
Aquarius to purchase Impala’s remaining stake in Mimosa after a
required majority stake sale to locals.
A controversial law mandates that all foreign miners sell a
51 percent stake to local Zimbabweans. That will reduce Impala’s
holding to 24.5 percent.
“Implats cannot be allowed to maintain a 24.5 percent
portfolio investment in Mimosa while they have their hands full
with the massive capital expenditure that will be required at
Zimplats,” Kasukuwere was quoted as saying.
Impala owns 87 percent of Zimbabwe’s largest platinum mine,
Zimplats.
Kasukuwere said having two minority shareholders splitting
the 49 percent, would leave Mimosa without a shareholder of
reference for funding and technical support as neither of them
will be sufficiently motivated to support any meaningful capital
expenditure, the newspaper said.
Kasukuwere was not immediately available to comment.
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