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Zimbabwe Government Intention Not To Nationalize - Minister

Zimbabwe's government doesn't intend to nationalize assets in the country, the Minister of Economic Planning and Investment Promotion said Thursday."Indigenization has caused a lot of anxiety to investors," Minister Tapiwa Mashakada said, speaking at a Zimbabwe trade and investment conference in South Africa.His comments come as Impala Platinum Holdings Ltd. (IMP.JO) is fighting a government threat to remove its Zimbabwe assets for failing to meet the requirements of the country's indigenization law. This law requires foreign investors to give up 51% of assets in a combination of stakes to government-approved assets or community trusts and employee ownership schemes.Last week, the Minister of Indigenization gave Impala two weeks to meet his demands, which weren't revealed."It isn't government policy to expropriate or nationalize assets," Mashakada said, noting instead it plans to involve more Zimbabweans in the economy.The minister said Zimbabwe wants foreign investment and companies s...

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  1. Zimbabwe Threatens Indigenization Action Against Aquarius

    Aquarius Platinum Ltd. (AQP.LN) said Friday that the Zimbabwe government has rejected its plan to meet the country's indigenization law and threatened unspecified en...

  2. Zimbabwe Rejects Aquarius Indigenization Plan, Threatens Action

    Aquarius Platinum Ltd. (AQP.LN) said Friday that Zimbabwe's indigenization minister rejected its plan this week to meet the country's law requiring foreign miners to...

  3. Implats Zimbabwe Expansion On Schedule, Further Growth On Hold

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  4. Implats First-Half Profit Up Marginally, Output Down

    Impala Platinum Holdings Ltd. (IMP.JO), the world's second-largest producer of the metal, Thursday reported a slight rise in earnings for the first half of its fisca...

  5. Implats Appoints Former Metorex Chief As New CEO

    Impala Platinum Holdings Ltd. (IMP.JO) said Tuesday that it has appointed Metorex Ltd.'s (MTX.JO) chief executive to take over from David Brown from July.Brown who h...

  6. Impala Platinum Chief Executive David Brown To Step Down

    Impala Platinum Holdings Ltd.'s (IMP.JO) chief executive will step down in June at a time when the world's second largest platinum producer is battling ownership rig...

  7. Implats CFO Dawn Earp Resigns For Other Interests

    JOHANNESBURG -(Dow Jones)- Impala Platinum Holdings Ltd. (IMP.JO), the world's No. 2 producer of the metal, said Monday Chief Financial Officer Dawn Earp has resigne...

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