Confusion continues to surround a proposed deal to place 15 per cent of Zimbabwe Platinum Mines (Zimplats) in the hands of an empowerment partner.

While Needgate Investments was originally authorised to buy out the 15 per cent stake, the Zimbabwean government announced at the end of last month that Nkululeko Rusunu-nguko Mining Company (NRMC) would now manage the empowerment buy-out.

However, it has now emerged that the government has failed to officially inform Zimplats that NRMC will purchase the stake.

"Zimplats has had no further formal communication from the government of Zimbabwe [since February 2004 when it postponed the allocation of shares to Needgate] . . . no negotiations have taken place with any other party," a Zimplats told the Financial Gazette.

The latest change to the transaction arrangements follows earlier wranglings. The government had previously given exclusive negotiating rights for the 15 per cent stake to the National Investment Trust (NIT), a government-owned entity created as an empowerment vehicle.

However, Needgate was then given the right to buy the Zimplats stake when NIT failed to raise the money needed for the purchase.