Zimbabwe grabs Impala Platinum unit's land
4 March 2013
Land belonging to Impala Platinum and its Zimbabwe
unit Zimplats is to be seized by the country's
Harare plans to grab 27,498 hectares of the miner's property,
with the company given 30 days to appeal the move.
"The president intends to acquire compulsorily part of the land
held by Zimplats Holdings Ltd under special mining lease," a
statement in the Government Gazette said.
Implats, the world's second biggest platinum producer, agreed
earlier this year to give up a 51% stake in its Zimplats operation
to local black investors under the controversial indigenisation
The latest land grab appears to have come as a surprise to the
platinum miner, though analysts were not so taken aback.
"This sort of thing always happens, especially with elections
now expected in July. The government is trying to be popular but
these developments affect relations and perceptions among
investors," Zimbabwe economic analyst Jeffrey Kasirori told South
Africa's Business Day.
The publication also notes that Zimbabwean mines minister Obert
Mpofu said last month that the government was unhappy with
contributions from platinum mining companies, which seems to have
precipitated the land grab.
He also told platinum miners they had up to two years to set-up
a refinery inside Zimbabwe.
Impala Unit's Land Is Grabbed by Zimbabwe With 30 Days to Appeal
Zimplats given 30 days to appeal land grab (01/03/13)