Zimbabwean president Robert Mugabe has suggested that there are alternatives open to mining companies hoping to avoid government plans for the takeover of foreign-owned mines.

Original plans announced earlier in the year would see the government take a 51 per cent stake in foreign platinum mines, while only paying for 26 per cent.

Speaking to representatives from the country's largest platinum miner Zimplats and its majority share holder Impala Platinum, Mugabe said that miners could satisfy the intent of the law in other ways.

"It is government's policy that Zimbabweans should derive greater benefit from their resources," explained president Mugabe, according to Reuters.

"The applicability of that (ownership) principle will certainly take into account all that you have done and all that you will be doing in the future.

"If you have carried out any indigenisation programme that is acceptable to us you do not need to fear anything," he added.

Mining is a massive source of foreign exchange for Zimbabwe, which has been drastically short of foreign currency in recent times.

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