{"id":8451,"date":"2012-03-01T02:45:05","date_gmt":"2012-03-01T00:45:05","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-implats-says-will-not-exit-zimbabwe\/"},"modified":"2012-03-01T02:45:05","modified_gmt":"2012-03-01T00:45:05","slug":"update-1-implats-says-will-not-exit-zimbabwe","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-implats-says-will-not-exit-zimbabwe\/","title":{"rendered":"UPDATE 1-Implats says will not exit Zimbabwe"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Zimbabwe a “good investment destination”-Implats CEO<\/span><\/p>\n

<\/span><\/p>\n

* Zimbabwe accuses Implats of delaying tactics<\/p>\n

(Adds Implats CEO comments)<\/p>\n

<\/span><\/p>\n

HARARE\/JOHANNESBURG<\/span> Feb 29 (Reuters) – Impala
\nPlatinum, the world’s second-largest platinum producer,
\nsaid on Wednesday that it would not exit Zimbabwe despite the
\ndemands being made by the government that it hand over majority
\nstakes in its local operations to Zimbabweans.<\/p>\n

<\/span><\/p>\n

Implats Chief Executive David Brown told private radio
\nstation 702 Talk Radio the company still saw the southern
\nAfrican nation as a “good investment destination”.<\/p>\n

<\/span><\/p>\n

“There’s huge expansion potential … but we need
\ncertainty,” he said.<\/p>\n

<\/span><\/p>\n

Zimbabwe, which holds the world’s second largest PGM
\ndeposits after South Africa, is crucial to the future of the
\nplatinum industry because of its massive resources.<\/p>\n

<\/span><\/p>\n

But platinum companies, as Zimbabwe’s largest investors, are
\nbeing targeted in the government’s drive to get all outside
\ncompanies to hand over 51 percent stakes in their mines.<\/p>\n

<\/span><\/p>\n

Implats has offered to hand over between 25 percent and 30
\npercent in equity and make up the balance through credits it
\nhoped to receive in exchange for giving up some of its land five
\nyears ago.<\/p>\n

<\/span><\/p>\n

But the minister in charge of Zimbabwe’s black empowerment
\ndrive Saviour Kasukuwere has rejected part of Implats proposal
\nand has given the company till Wednesday next week to hand over
\n29.5 percent of its Zimplats operation.<\/p>\n

<\/span><\/p>\n

“The problem with Brown is that he talks too much. We are
\nsick and tired of his delaying tactics,” Kasukuwere told
\nReuters.<\/p>\n

<\/span><\/p>\n

Kasukuwere has previously threatened to cancel the mining
\nlicences of non-compliant firms.
\n ($1 = 7.5305 South African rand)\t<\/p>\n

(Reporting by MacDonald Dzirutwe and Sherilee Lakmidas; Editing
\nby Ed Stoddard, Tiisetso Motsoeneng and David Holmes)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Zimbabwe a “good investment destination”-Implats CEO * Zimbabwe accuses Implats of delaying tactics (Adds Implats CEO comments) HARARE\/JOHANNESBURG Feb 29 (Reuters) – Impala Platinum, the world’s second-largest platinum producer, said on Wednesday that it would not exit Zimbabwe despite the demands being made by the government that it hand over majority stakes in its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8451","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8451"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8451\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}