Aquarius Platinum wary of Mugabe comments 17th September 2004

Aquarius Platinum is awaiting further details on reports that the Zimbabwean government is seeking to secure 50 per cent rights in every mining operation in the country before pushing ahead with its development plans.

The firm told Bloomberg that it would be seeking clarification on the government's position after Robert Mugabe reportedly said the state might seek to increase its control of its natural resources.

While a senior Zimbabwean government official sought to play down the reports earlier this week, Aquarius says it wants further confirmation before pushing ahead with its $50 million plans to boost production at the Implats co-owned Mimosa project.

Chief executive officer Stuart Murray said the project scale would be doubled if Aquarius can be given "certainty" by the Zimbabwean government.

"There is potential for further expansion at Mimosa, but we need the situation to be clarified," he told Bloomberg.

Robert Mugabe had announced plans to take governmental control of "50 per cent shares in the mines".

However, Tinaye Chigudu, permanent secretary of mines and mines development in Zimbabwe, told Mineweb such speculation was ill-founded, although even he admitted he had not yet spoken to the president on the matter.


ADNFCR-8000075-ID-19142899-ADNFCR© Adfero Ltd



Related articles