Platinum miner Zimbabwe Platinum Mines (Zimplats) has warned that government interference is threatening to undermine progress being made in the regulation of the industry.

In a statement released today, Zimplats points to two new legislative moves governing platinum production in Zimbabwe, arguing that the government is ignoring agreed provisos laid down in earlier meetings.

Zimplats terse statement claimed the government's introduction of two new Statutory Instruments covering offshore investments and foreign currency usage "appear to override critical provisions of the current Mining Agreement signed by Zimplats and the government".

Accusing the government of pursuing plans "at variance with both public announcements by the Reserve Bank of Zimbabwe and with discussions that have taken place between the bank and the country's platinum producers", the company calls for clarity in the sector.

Claiming that it was expecting a certain degree of leniency - with the government establishing grounds for exemptions from the new rules, particularly with regard to expansion of existing projects - Zimplats insisted action was needed.

"Unless such exemption is granted, Zimplats' Makwiro Platinum Mines subsidiary will be required to liquidate offshore accounts that are operated in accordance with the Mining Agreement and deposit the proceeds into local foreign currency accounts by the end of this month," Zimplats said.

"In the opinion of the Zimplats directors, if this development is not addressed it will have a negative impact on the cost and risk of doing business in Zimbabwe."

Zimplats says it is now "urgently" seeking dialogue with the government and the Reserve Bank, in an indication of growing unease among the industry, and a widening gap between the state and business in the region.