Shares in Aquarius Platinum and Impala Platinum (Implats), both declined on Monday, after Zimbabwean President Robert Mugabe approved a law giving local owners the right to take majority control of foreign companies, including mines.

The companies jointly own the Mimosa mine in the country, and Implats also holds about 87% of platinum-producer Zimplats.

Shares in Implats fell 5%, to close in Johannesburg at R313,00 a share on Monday, and Aquarius Platinum South Africa declined 17,7%, and closed at R106,01 a share.

Reuters also reported on Sunday that a second bill on the mining sector had been published and that government officials expected Mugabe's ZANU-PF party to push it through later this year if it is re-elected on March 29.

Zimbabwe has the biggest platinum resources in the world after South Africa, but does not produce significant amounts of the white metal because mining companies are deterred by political and economic uncertainty in the country.

The JSE all-share index fell 1,96% on Monday.

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