Implats said on Tuesday (5 March) it was engaging lawyers to help it come up with an appropriate response to the official gazetting by the government of a land grab allowing it to take control of 27‚948 hectares of land it owns. Zimplats has been given to the end of this month to contest the land grab.
Empowerment Minister‚ Saviour Kasukuwere said this week that he would seek to implement President Robert Mugabe's demands that Implats give away 51% of the Zimbabwean unit for free.
Although this raised uncertainty levels‚ Zimplats chief executive Alex Mhembere said the company would stick to its operations in the country and engage the government to find a better resolution of the issues it is grappling with.
"Zimplats remains focused on the full development of its mining resources and a sustained positive contribution to the country and people of Zimbabwe. Consultations with the relevant Government authorities are in progress‚" Mhembere said.
It is widely expected that Kasukuwere will toe the line in respect of Mugabe's new demands. Zimplats is the biggest mining investor in Zimbabwe while other SA platinum miners such as Anglo Platinum and Aquarius also have significant operations in the country.
Mhembere said the company employs nearly 10‚000 people in the huge Mhondoro-Ngezi area where its operations are situated.
"Zimplats has diligently implemented its investment and mining development programmes in Zimbabwe even during the most difficult period in the country's history‚" he said.
Analysts in Zimbabwe confirmed that Zimplats had made significant investments in the country‚ hence its commitment to continue operating despite the fresh wave of economic and political uncertainty.
Ted Muzoroza‚ a mining law expert in Zimbabwe‚ told Business Day that "the main driver of investment is a sound and clear policy on property rights".
"Respect for the sanctity of property rights attracts and promotes private sector investment which is the engine for economic growth‚" Muzoroza said.
Source: Business Day via I-Net Bridge
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