President Robert Mugabe is considering Zimbabwe Platinum Mines' (Zimplats) empowerment deal in what is being seen as the final hurdle for the protracted deal.

Delays to the deal - which would see an empowerment partner take up a 15 per cent stake in the company in accordance with the BEE guidelines - are said to be causing problems to Zimplats' expansion plans.

Four investors are currently vying for the stake, although sources told the Financial Gazette that a frontrunner has already earned cabinet approval, with Mugabe's assent the final hurdle.

"Cabinet has already made its decision on who the empowerment partner for Zimplats should be, but I cannot disclose the name at this moment. The deal now awaits to be sanctioned by the President," said the source.

"These procedures were not followed in the first place and that is why it is taking long for the deal to be completed," he added.

Zimplats has indicated that it is keen to comply with government regulations to speed up conclusion of the deal, in order to stop the issue delaying plans for expansion.