Miners cast their eyes over border
Some miners are already moving in on SA’s northern neighbour with zeal
Sentiment on Zimbabwe is improving with potential investors looking for business opportunities while monitoring political developments closely. But some miners are already moving in on SA’s northern neighbour with zeal. Zimbabwe was starved of foreign direct investment under former president Robert Mugabe and his contentious indigenisation law, which required businesses to be majority-owned by locals. Under then acting president Emmerson Mnangagwa, whose win at the polls is the subject of a court case this week, the law was amended in a bid to open up the economy to new investment. The only exception to the amended laws are the diamond and platinum mining sectors where only 41% of such operations can be foreign owned. Even so, Impala Platinum, which will cut jobs and shut shafts at its Rustenburg operations, has expressed excitement about an "obvious" expansion opportunity for its Zimbabwe operations. Resources group Tharisa has moved strongly into Zimbabwe this year with recent pur...