In Zimbabwe the Murowa diamond mine owned by Rio Tinto group is among the 45 mining operations which have managed to comply with the new rules on black citizen’s ownership. The Indigenization Minister Saviour Kasukuwere said that it was amongst the few companies that were already compliant with the policy to cede 51% ownership to black Zimbabweans.
Many other mining operations are yet to comply with the policy. These include the Impala Platinum Holdings unit called Zimplats Holding Ltd. The Indigenization Minister said while speaking in Harare that the unit continued to defy the laws of this land, continues to abuse the process.
The minister Saviour Kasukuwere added that they would like to let Zimplats continue mining in this country, but if they continue to disregard the laws of Zimbabwe they were going to be left with no option to proceed in terms of the law, ironic from a country that has total disregard for the letter of the law and human rights!
Zimbabwe has the second largest reserves of platinum and chrome in the world after South Africa. The government has demanded that all foreign or white owned mining operations submit plans to sell stakes in their companies to black owners. Impala Holdings owns 87% of Zimplats Holding and is the top investor in mining in Zimbabwe.
Bob Gilmour a spokesperson for Impala Holdings said that negotiations were ongoing with the government over the plans to transfer the majority of shares to black owners. A 14 day ultimatum period had just ended last week as its plan submitted on August 17, 2011 was rejected by the Zimbabwean government.