Implats responds to Zimbabwean govt platinum plans 29th October 2004
Impala Platinum (Implats) says it is seeking further discussions with the Zimbabwean government after it announced changes to the rules governing offshore accounts.
Gideon Gono, governor of the Reserve Bank of Zimbabwe, declared during the country's monetary policy third-quarter review that the government would be taking charge of marketing and trading in the platinum industry and would be abolishing offshore accounts held by platinum producers.
He said that "all offshore accounts for Zimbabwe-based platinum will cease to operate", with previous dispensations being voided.
Implats today issued a statement in reply, saying that it was in talks with the government and "remains in discussions with the governor of the Reserve Bank of Zimbabwe in respect of changes in monetary policy".
"It has been agreed that a task team, comprising government officials and company representatives will be established to ensure that a satisfactory conclusion will be reached that is in the interests of both the mining investors in the country and the Reserve Bank," the platinum heavyweight added.
The firm, the second largest platinum producer in the world, says it will respond in more detail in due course.

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