The Zimbabwe division of South Africa’s Impala Platinum, Zimplats, is under pressure following a nationalization deal brokered with the government in January. Company officials now have less than a month to appeal a takeover by Harare officials of 50% of their mining claims.
Impala Platinum said it is pursuing “legal advice” while consulting “relevant” government officials regarding the transaction, valued at $900 million.
The Zimplats deal, brokered by Minister of Youth Development Indigenization and Empowerment Saviour Kasukuwere, is now under attack by President Robert Mugabe. “He did not quite understand what was happening…the mineral resource is owned by us,” said Mugabe of Kasukuwere.