* Stake first phase of complying with empowerment law
* Kasukuwere says Barclays, StanChart offers paltry
By MacDonald Dzirutwe
HARARE, Dec 12 (Reuters) – Zimbabwe’s Mimosa mine, a
joint venture between Impala Platinum and Aquarius
, has given a 10 percent stake to locals, a government
minister said on Monday, as it aims to meet a controversial law
on local ownership.
British banks Barclays Plc and Standard Chartered
Plc have also offered to sell 10 percent stakes in
their local units, although the government believes that is not
enough, Youth and Empowerment Minister Saviour Kasukuwere said.
President Robert Mugabe’s drive to force mines and banks to
surrender at least 51 percent shares to locals has unnerved
overseas investors and further divided the government Mugabe
formed with rival Prime Minister Morgan Tsvangirai in 2009.
“This is the first phase of (Mimosa’s) compliance, they have
given 10 percent shareholding to the community after reaching an
agreement with the community, and have already signed,”
Kasukuwere told reporters.
In a statement, Aquarius confirmed Mimosa had signed an
agreement with Zvishavane Community Share Ownership Trust, set
up to benefit the communities surrounding the mine.
It said issuing equity to Zvishavane was an “indivisible
part of a final indigenisation plan”, which is still under
discussion in talks between Mimosa and the government .
Continued…
