Impala Platinum has received a boost after African National Congress (ANC) Treasurer-General Mathews Phosa claimed that South African businesses should be able to reinvest in Zimbabwe should peace return.

The country's power-sharing agreement between President Robert Mugabe and Morgan Tsvangira, leader of the Movement for Democratic Change (MDC) party, is close to being finalised.

However fragile the partnership may be, Impala - the world's second largest platinum producer - will welcome it after recently investing R2.3 billion in its two Zimbabwean mines.

Speaking at a business breakfast conference, Mr Phosa explained that the "fundamentals are very strong in Zimbabwe - they have just been unlucky".

Impala has also claimed that it can play a "very instrumental" role in the country's economic reconstruction, with CEO David Brown recently suggesting that political resolution would provide the company with greater investment opportunities.

The company may also be boosted in its ongoing discussions with Mvelaphanda Resources and Northam Platinum as Tokyo Sexwale - who has strong links to the new ANC leaders - was closely associated with the former.

Meanwhile, African Rainbow Minerals (Arm) also confirmed that it is considering "a number of platinum opportunities" in Zimbabwe, which it described as a "very, very important country".



Source:

Business should reinvest in Zimbabwe, says ANC heavyweight (26/09/08)
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