The government of Zimbabwe and platinum mining firm, Zimplats have finally come to an agreement regarding the new indigenization requirements for indigenization empowerment in the country.
Minister of Youth Development, Indigenization and Economic Empowerment, Saviour Kasukuwere minister and the Zimplats Chairman, Mr David Brown, made the announcement at a combined media conference.
Minister Kasukuwere said that the two day deliberation between the Zimbabwean government and the management of Zimplats had resulted in a win-win solution for both parties involved. The company has agreed to the submission of a revised indigenization implementation plan for Zimplats in line with, and reflective of the country's indigenization legislation said the Minister.
The previously submitted plan given to the government on November 15 had been rejected by the government. Mr David Brown said the platinum mining giant was happy to conform to the country’s indigenization and economic empowerment policy.
Mr Brown added that despite Zimbabwe's equity policy the company was keen to proceed with a planned $460 million expansion project there, which would bring its total investment to close to $1 billion, the single largest investment in the politically troubled nation.
Zimplats is owned by a South African platinum mining conglomerate, Implats and operates the local Impala Platinum mine in Zimbabwe. It is the second largest platinum producer in the world. They are the largest mining firm operating in Zimbabwe as regards to output and production.