The Zimbabwean government has sought to reassure investors in the mining industry following comments carried in the state press from the president last week.

President Robert Mugabe was reported to have said that he was seeking to gain greater control within the mining industry, aiming to land 50 per cent stakes in all of the country's mining operations.

However, the country has moved to reassure investors that the comments had been misquoted, with the authorities striving to soothe the fears of major industry players such as Impala Platinum (Implats).

Implats executive Director Les Paton told Reuters that the firm had received a number of assurances.

"Our representatives in Zimbabwe had a meeting with the ministry of mines last week," he explained.

"The permanent secretary in the ministry of mines essentially contradicted the president's statements and said they were taken out of context and that it's not left to one man to determine policy in Zimbabwe."

Implats has targeted Zimbabwe for a major programme of expansion, hoping to ramp up annual platinum output in Zimbabwe from around 85,000 ounces to 145,000 by 2006.