Zimbabwe banks told not to process Zimplats exports

Zimbabwe's central bank has ordered the country's banks to stop processing mineral exports by Impala Platinum's local unit, which it accuses of failing to comply with an order to bank locally, a state newspaper said on Friday. A spokeswoman for...

Rio's Zimbabwe spin-off covets Murowa diamond mine

Zimbabwe's RioZim Limited has opened talks with Rio Tinto in a bid to take full control of the Murowa diamond mine as the global mining major seeks to leave the gem business, a key shareholder said on Thursday. Rio Tinto has a 78% stake in...

Zimbabwe's business law seen enriching black elite

The Zimbabwean government's drive to force foreign businesses to give 51% of their shareholding to locals will benefit the few black elite and must be reviewed, Finance Minister Tendai Biti said on Thursday. The controversial so-called...

Zimbabwe says now 'owns' 51% of foreign miners

Zimbabwe's government raised the stakes on Thursday in its drive to wrest majority control of foreign mining companies, with a Minister saying the state now considered it owned 51% of firms that have not complied with local ownership laws. "All...

South African govt safeguarding Implats as Zimbabwe indigenisation bites

South African major Implats has struck a deal with Zimbabwe that assures the JSE-listed company of fair cash compensation, the prospect of continued unfettered expansion and the potential freedom of the once-empowered, always-empowered advantage,...

Implats’ Zimbabwe compensation unlikely at market rate – Liberum

South Africa’s platinum major Implats, which has reached an enforced in-principle agreement on indigenising 51% of its Zimplats assets, is unlikely to be compensated by the Zimbabwean government at the market rate, mining analyst Liberum Capital...

Africa emerges as new frontier for gold M&A

At the massive Prospectors and Developers convention, it's not hard to find a table full of mining executives huddled in conversation, their voices muffled by the din of thousands of participants at the event. With gold prices steady above $1...

PLATINUM IMPLOSION

This picture shows Zimbabwe President Robert Mugabe delivering a speech at the Mimosa platinum mine in Zimbabwe on February 16. Eight days later, platinum miners Impala Platinum (Implats) and Aquarius Platinum were forced to tell their...

Rent rather than nationalisation, Zim will not pay compensation, Australian mining investment

The study by South Africa’s ruling African National Congress (ANC) gives mine nationalisation a firm thumbs down; Zimbabwe will shortly seize mining assets without compensation; and the study of South Africa’s Council for Geosciences into the...

Zim won’t pay compensation for mining companies seized for failing to meet empowerment targets

Zimbabwe's Minister of Youth Development, Indigenisation and Economic Empowerment, Saviour Kasukuwere, says the Southern African government will not pay "anything" to the mining companies it intends to seize shortly for failing to comply with its...

Zim threatens to seize mines, without compensation

Zimbabwean Youth Development, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere says the government “will not pay anything” to the mining companies it intends to seize for failing to comply with the country's controversial...

Zimplats workers strike over power bills -paper

Workers at the Zimbabwe unit of platinum miner Impala Platinum have gone on strike to force the company to pay for their personal electricity bills, which has partially hit production, state media reported on Sunday.