Zimbabwe to make platinum and diamond miners exempt from 51% locally owned requirement
Nairobi/London — Zimbabwe will consider applications from companies mining platinum or diamonds to be exempt from a requirement that they be at least 51% owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance, however, before it will consider granting waivers, mines minister Winston Chitando said in an interview in Cape Town on Wednesday. "Companies should come up with proposals that suit their different circumstances," the minister said. "We are not prescriptive" about who they should partner with. Zimbabwe has abolished ownership requirements for all minerals other than platinum and diamonds and President Emmerson Mnangagwa said last month that those requirements may also be lifted in the future. Zimbabwe has the world’s second-biggest platinum reserves and producers, including the two largest, Anglo American Platinum and Impala Platinum Holdings, have slowed investment plans in the country because of the ownership law...
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