Bloomberg News

Impala’s Zimbabwe Unit to Give Revised Ownership Plan by Nov. 15

September 13, 2011

Sept. 13 (Bloomberg) -- Impala Platinum Holdings Ltd.’s Zimbabwe unit will submit a revised plan to meet the government’s ownership law by Nov. 15, said David Brown, the chief executive officer.

The Johannesburg-based company, the biggest investor in Zimbabwe’s mining industry, met with Empowerment and Indigenization Minister Saviour Kasukuwere, Brown told reporters today in Harare, the capital. Zimbabwe wants foreign companies to sell 51 percent of local assets to black citizens.

“There is a sense of understanding and realization that Zimplats is a very important company in the country and that it can play a very important role in the economy moving forward,” Brown said.

To contact the reporter on this story: Godfrey Marawanyika in Johannesburg at gmarawanyika@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net


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