Platinum company Impala was well positioned to meet the 51% Zimbabwean mine ownership requirement if it were signed into law, Impala Platinum executive director Les Paton said on Thursday.

He pointed out, however, the proposed indigenisation legislation, which had set the level of Zimbabwean mine ownership at 51%, had not yet been signed into law.

Although the underlying legislation affecting the mining sector had been tabled in parliament, he said that it had not been addressed by parliament, which had since adjourned.

As a result, the legislation would have to be re-presented when parliament next sat.

He said that Implats had already secured clear "give-up-of-ground" agreements with the Zimbabwean government, which would entitle the company a Zimbabwean ownership credit of between 19,5% and 29,25% at Zimplats, in which Implats has a controlling interest.

Moreover, infrastructural and social credits were "well-understood and agreed", though the quantum had still to be finalised.

"If the 51% were to come to pass, we are well positioned to meet it," said Paton

He reported that Impala Platinum was in the process of expanding Zimplats' production to 160 000 oz of platinum a year.

Mimosa, also in Zimbabwe, was commissioning its phase-five project, which would expand production to 95 000 oz of platinum, after which a further small project would take production up to 100 000 oz a year.

Once all the current expansions had been completed, which would be "in the next couple of years", total Zimbabwean production would be at a level of 260 000 oz.

Clerk of Parliament Austin Zvoma has reported that, under Parliamentary procedures and regulations, the Indigenisation Bill, which was tabled in Parliament last December, lapsed after Parliament stopped sitting.

He said that Parliament would resume sitting after the presidential, parliamentary and local government elections on March 29. It would be up to the new government to reintroduce the Mines and Minerals Act Amendment Bill.

"The Bill is no longer of any effect at all. Parliament will start sitting after the polls and this means the Bill has lapsed. It will be up to the new government whether or not to reintroduce it into the new Parliament," Zvoma was reported as saying.

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