Zimplats export dealings investigated 3rd September 2003

The Zimbabwean Mines Ministry is reviewing the export activities of Zimbabwe Platinum Mines Ltd, according to managing director Roy Pitchford.

In an interview with the Harare Business Daily, he said the review would be carried out to see if matte exports to South African majority shareholder Impala Platinum were being understated.

'The Ministry of Mines is currently reviewing the expert documentation and procedures of Zimplats and the company looks forward to the outcome of this review', he said.

Zimplats has a tolling and refining agreement with Impala as there are no processing facilities in Zimbabwe.

In response to allegations that foreign currency reserves were being depleted by the company, Mr Pitchford said the company's dealings were verified by auditors:

'The procedures and information covering Zimlats' exports are provided to the authorities in great detail. Any evaluation of the process and information will confirm the accuracy of the volume and value of the metals exported by the country.'


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