MINING RIGHTS
Zimplats settles five-year landholding dispute
Impala Platinum (Implats) subsidiary Zimplats has finalised a deal with the Zimbabwean government around a five-year-old demand that the company give up half of its landholding in the world’s second-largest known platinum deposit. The Zimbabwean government issued a gazette in March 2013 notifying Zimplats, which is listed in Australia, that then president Robert Mugabe intended seizing 27,948ha of land held by the company on the Great Dyke, the largest source of platinum outside SA. Under the new government of President Emmerson Mnangagwa, Zimplats has reached a conclusion to the matter, ceding 23,903ha back to the state and dividing Zimplats’s land holding into two disconnected portions. Implats, which owns 87% of Zimplats, said the agreement was "in support of the government’s efforts to enable participation by other investors in the platinum mining industry in Zimbabwe". Empowerment Zimplats returned one-third of its land holding to the government in 2006 in exchange for cash it ...
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