Implats says it is in the latter stages of discussions with a local Zimbabwean investor as it seeks to expand in the region.

The world's second largest platinum firm is keen to ramp up its presence in Zimbabwe, exploiting the strong natural resources and vast potential identified in the region.

Marketing executive Derek Engelbrecht told Reuters that the firm was also looking to invest capital and that this could be one way to do so.

"What we're trying to do on some of the resources that we own is bring in some black partners in Zimbabwe to do almost a 50-50, where they do the mining of the ore and then we do the processing on their behalf," he explained.

He added: "There's one at a particularly advanced stage, there are others perhaps not quite as advanced."

Implats has targeted annual output of 2.3 million ounces by 2010, with Zimbabwe key to the success of these plans.

Mr Engelbrecht said the main focus for the firm would be establishing viable development vehicles with the indigenous population and harnessing a proposed bilateral trade accord with South Africa.

Of the accord, Mr Engelbrecht said the agreement was "all ready for signature", but stressed that there were areas needing resolution.

Economic uncertainty in Zimbabwe and the potential for poverty and mass unemployment destabilising the country are also thought to be a thorny issue for firms looking to invest in the area, particularly a platinum mining firm which would have to invest hundreds of millions of dollars for the necessary infrastructure.


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