Impala Platinum has sought to dissuade the Zimbabwean government from its plans to take a stake in the holdings of overseas miners in the country.

Robert Mugabe's party have made clear their intentions to assume a majority stake in foreign firms based in Zimbabwe, with the government announcing plans to "indigenise" the mining industry.

However, the world's second biggest platinum miner, which says it has now received a cabinet-approved draft proposal on the initiative, is unhappy with the suggestions.

In a carefully worded and terse statement, Implats said it had studied the ideas and rejected them.

"Implats believes the proposal is not in the best interests of developing the platinum industry in Zimbabwe and is inconsistent with previous discussions with the Zimbabwean government," the statement read.

"The company will actively engage with and seek further clarity from the Zimbabwean government on the proposal and remains hopeful that a solution will be found in the best interests of Zimbabwe and the companies invested there."

Zimbabwe's government has long sought to establish itself in the mining sector, with the country's abundant natural resources making it one of the biggest platinum production areas in the world.


Ÿ Adfero Ltd