London — Zimbabwe must offer foreign miners a consistent legal framework, the right to keep a controlling stake in operations and a greater share of profits to encourage investment, the head of Anglo American Platinum (Amplats) said. The country, home to the world’s second largest reserves of platinum after SA, is pinning hopes on a recovery in its mining industry after a coup that pushed out veteran leader Robert Mugabe, whose rule saw the economy plunged into chaos. But decades of laws that deterred investors with tough terms and frequent changes, low global platinum prices and a crumbling economy have left Zimbabwe’s mineral wealth largely untapped. "We are not investing in any material growth," CE Chris Griffith told Reuters, adding that Amplats was considering investing in a small process to optimise operations, a process known as "debottlenecking". "But that is not betting the farm on Zimbabwe yet," he said, adding that terms now on offer and an uncertain global outlook for pl...
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