Platinum mining industry figures including Impala Platinum's David Brown and Aquarius chief Stuart Murray have cautiously welcomed comments emerging from Robert Mugabe's administration over the plans to take a stake in foreign-owned mining firms in Zimbabwe.

Stuart Murray said he remained "concerned", but stressed he did not believe "there is any cause for panic", Platts reports.

"The Zimbabweans have not yet got a clear direction forward, this is a policy that is far from finalised and is up for discussion. I think the words of the president reflect this and I am going to stand by Zimbabwe."

President Mugabe was reported to be in favour of dramatic plans to overhaul the country's mining industry in a bid to capitalise on Zimbabwe's plentiful natural resources.

His plans to "indigenise" mines in the country, with the state claiming a majority holding in overseas firms, were initially said to be all but rubber-stamped

However, Mugabe has since said there is no policy yet, insisting they have simply discussed ideas, temporarily placating the industry.

Impala's David Brown was another to express optimism over a resolution, claiming it "is definitely work in progress".

"There is room for a lot of fine tuning. We are now preparing for a meeting with government over the next couple of weeks to present our case and want to make sure we get everything right," he said.

The plans sparked fears that overseas miners would avoid the country if the plans went ahead, with a huge row brewing if the state sought to aggrandise mining operations.


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