Nkululeko Rusununguko Mining Company of Zimbabwe (NRMCZ) has claimed it is still in line for a 15 per cent share in Zimbabwe Platinum Mines (Zimplats).

Although it was thought NRMCZ had missed out on the deal after failing to raise $31 million to purchase the share, Zimplats has now revealed it is working with the group and holding discussions to "join up all the loose ends" for securing funds.

Zimplats told the Herald: "Discussions with NRMCZ on the empowerment transaction are continuing. Due to the delay in securing funding the transaction was not finalised by the February 7th 2005 deadline set by shareholders at the extraordinary general meeting held on November 5th 2004."

The firm had problems with funding after Standard Chartered Bank, which had previously agreed to bankroll the deal, pulled out.

NRMCZ beat off competition from National Investment Trust, Needgate Investments and Grassroots Investments and were seen as surprise winners.

Zimplats is also planning to get shareholder approval at its AGM next month to change the name of its newly acquired platinum mine Makwiro Platinum Mines to Zimbabwe Platinum Mines.