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...

Zimplats Q3 profit soars on higher platinum prices

Impala Platinum's Zimbabwe unit Zimplats reported a 170% jump in third-quarter profit on Monday, buoyed by higher platinum prices. Zimplats said January to March operating profit rose to $52-million from $19-million the previous quarter. Revenue,...

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...

Amplats, Zimbabwe to meet on Unki indigenisation plan

Anglo American Platinum (Amplats) said on Wednesday that it would meet officials from the Zimbabwe government later this week to discuss the indigenisation plan for its Unki mine. The world’s largest platinum producer submitted its...

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,...

No point if Zimbabwe fails to show it has $500m/$1bn cash for 31% of Zimplats

There is no point in Implats going back to the Zimbabwe negotiating table if South Africa’s errant neighbour is unable to show that it has access to between $500-million to $1-billion in cash to pay for the 31% of Zimplats. While it has agreed...

Zimbabwe needs up to $1bn cash to compensate Implats fairly

The government of Zimbabwe will need between $500-million and $1-billion in hard cash to honour its commitment of paying South Africa’s Implats fair value for control of Zimplats, Mining Weekly Online can today report. Treaty protection under...

16/03/2012 (On-The-Air)

the South African government has been going all out to ensure that platinum company Implats is being fairly treated by the government of Zimbabwe; South Africa wants to take a leaf out of Canada’s book to save its ferrochrome business from...

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...

Company Announcement: Zimplats Indigenisation update

Following a meeting between the Zimbabwean Minister of Youth Development, Indigenisation and Empowerment, and directors of Implats, the new Zimplats Indigenisation Implementation Plan presented to the Minister meets the minimum requirements of the...

Implats’ illustrated history

This year marks the 88th anniversary of the foundation of South Africa’s platinum mining sector. However, this milestone is unlikely to be celebrated with much enthusiasm as platinum miners increasingly find themselves of the tortuous rack owing...

Zimplats mine, Zimbabwe

An openpit and underground mine, situated in Zimbabwe.