The Mimosa mine, a joint venture (JV) between Impala Platinum (Implats) and Aquarius Platinum, has moved towards meeting the Zimbabwe government's indigenisation targets of giving up a 51 per cent stake to local black investors.

According to Reuters, a government minister confirmed that the JV has given up a ten per cent stake, though this still falls short of the requirements placed on mining firms in the country.

"This is the first phase of [Mimosa's] compliance, they have given ten per cent shareholding to the community after reaching an agreement with the community and have already signed," youth and empowerment minister Saviour Kasukuwere said.

The Mimosa mine, situated in the Great Dyke complex, recorded platinum production of 104,000 oz for the 2010/11 financial year.

Source:

Implats Zimbabwe JV gives 10 pct stake to locals: minister (12/12/11)

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