Bloomberg News

Impala Platinum Will Consider Adding Zimbabwe Refining Capacity

June 28, 2011

June 28 (Bloomberg) -- Impala Platinum Holdings Ltd. will consider adding refining capacity in Zimbabwe once output of the metal gets to about 400,000 or 500,000 ounces and if the investment climate is “stable,” Chief Executive Officer David Brown said.

A law in Zimbabwe that mining companies must sell 51 percent of their local assets to black Zimbabweans “doesn’t really work for us,” he said in a speech in Johannesburg today. Selling a 25 percent or 26 percent stake is “probably reasonable,” he said.

To contact the reporter on this story: Carli Lourens in Johannesburg at clourens@bloomberg.net

To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net


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