Impala Platinum is "well positioned" to meet the 51 per cent Zimbabwean mine ownership requirement should it be signed into law, it has been reported.

In an interview with Mining Weekly, Les Paton said that Impala had already secured "give-up-of-ground" agreements with the Zimbabwean government as required, while infrastructure and social credits are "well-understood and agreed" - leaving only the quantum to be finalised.

"If the 51 per cent were to come to pass, we are well positioned to meet it," he said.

Preparations have been made despite the fact that Zimbabwean parliament was adjourned before the proposed Zimbabwean indigenisation legislation was discussed.

This means that the legislation would have to be reintroduced when parliament next sits for it to have any chance of being passed into law.

Meanwhile, Mr Paton went on to report that Impala Platinum is currently expanding its production level at Zimplats to 160,000 oz of platinum a year.

Furthermore, the Mimosa platinum operation in Zimbabwe is increasing output to 95,000 oz of platinum as part of its phase-five project, with another smaller project due to boost production by an extra 5,000 oz.

Source:

Implats continues to give good account of its risky Zimbabwean stewardship
http://www.miningweekly.co.za/article.php?a_id=127045

Ÿ Adfero Ltd