{"id":8918,"date":"2012-03-15T03:10:27","date_gmt":"2012-03-15T01:10:27","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-implats-tells-zimbabwe-to-pay-up-before-it-gets-stake\/"},"modified":"2012-03-15T03:10:27","modified_gmt":"2012-03-15T01:10:27","slug":"update-1-implats-tells-zimbabwe-to-pay-up-before-it-gets-stake","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-implats-tells-zimbabwe-to-pay-up-before-it-gets-stake\/","title":{"rendered":"UPDATE 1-Implats tells Zimbabwe to pay up before it gets stake"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Implats to sell 31 pct stake in Zimplats to Zimbabwe<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Says will not transfer stake unless Zimbabwe pays<\/p>\n<p><span><\/span><\/p>\n<p>* Deadline, value of deal still outstanding<\/p>\n<p> (Adds detail, analyst comment)<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, March 14 (Reuters) &#8211; South Africa&#8217;s<br \/>\nImpala Platinum said on Wednesday that the Zimbabwean<br \/>\ngovernment would have to find the money to buy the 31 percent<br \/>\nstake it wanted in its local unit Zimplats or the stake<br \/>\nwould not be transferred.<\/p>\n<p><span><\/span><\/p>\n<p>Zimbabwe is demanding that foreign-owned companies transfer<br \/>\na 51 percent stake in their local operations to local investors<br \/>\nand the government has pressurised miners to set an example.<\/p>\n<p><span><\/span><\/p>\n<p>After months of wrangling and threats that the government<br \/>\nwould ensure its law would be enforced, Implats said it would<br \/>\nsell a 31 percent stake to the Zimbabwe government and another<br \/>\n20 percent to local communities and Zimplats&#8217; employees.<\/p>\n<p><span><\/span><\/p>\n<p>The solution had in principle been accepted by Harare.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;If they don&#8217;t come up with the cash the stake will not be<br \/>\ntransferred,&#8221; Implats Chief Executive David Brown said during a<br \/>\nconference call aimed at providing more clarity on the<br \/>\nin-principle deal it had reached with the government on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The stake, whose value must still be decided, will only<br \/>\nbecome available for sale once the government has compensated<br \/>\nImplats for land it had released to the state as part of a<br \/>\nseparate agreement almost six years ago, the miner said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Implats to sell 31 pct stake in Zimplats to Zimbabwe * Says will not transfer stake unless Zimbabwe pays * Deadline, value of deal still outstanding (Adds detail, analyst comment) JOHANNESBURG, March 14 (Reuters) &#8211; South Africa&#8217;s Impala Platinum said on Wednesday that the Zimbabwean government would have to find the money to buy [&hellip;]<\/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-8918","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\/8918","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=8918"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8918\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}