Kinyungu
JF-Expert Member
- Apr 6, 2008
- 17,365
- 33,004
Impala Platinum Holdings Ltd. (IMP), the worlds second-largest producer of the metal, is set to lose control over the unit holding 41 percent of its resources as Zimbabwe starts nationalizing foreign-owned assets.
Impala agreed in principle this week, in the face of a government ultimatum, to sell 31 percent of the unit to a state agency and 20 percent to employees and communities. Zimplats Holdings Ltd. (ZIM) holds 134 million ounces of platinum resources, valued at $228 billion at todays prices.
You are effectively losing 20 percent of your total resources, given that Impala will be left with half the deposits owned by Zimplats, said Clinton Duncan, a resources analyst at Avior Research Ltd. Impalas hand was forced.
Zimbabwe, which with South Africa holds more than three- quarters of the worlds platinum, gazetted a law two years ago that compels foreign-owned companies to cede or sell 51 percent of their shares to black Zimbabweans or state-approved agencies. Impala owns 87 percent of Zimplats.
Impala, which produces about a quarter of global platinum supplies, said this week it will sell 31 percent to the national Indigenization Fund for an independently determined fair value.
Cha kutafakari:
Je sisi Watanzania tuaweza kuweka sheria za kuwainua wazawa na kusimamia utekelezaji wake kama wanavyofanya Zimbabwe?
Je tunao viongozi wenye maono ya kutaka watu wetu wanufaike na rasilimali zetu kama gasi, dhahabu, almasi, tanzanite n.k?
Soma zaidi hapa: Impala
Impala agreed in principle this week, in the face of a government ultimatum, to sell 31 percent of the unit to a state agency and 20 percent to employees and communities. Zimplats Holdings Ltd. (ZIM) holds 134 million ounces of platinum resources, valued at $228 billion at todays prices.
You are effectively losing 20 percent of your total resources, given that Impala will be left with half the deposits owned by Zimplats, said Clinton Duncan, a resources analyst at Avior Research Ltd. Impalas hand was forced.
Zimbabwe, which with South Africa holds more than three- quarters of the worlds platinum, gazetted a law two years ago that compels foreign-owned companies to cede or sell 51 percent of their shares to black Zimbabweans or state-approved agencies. Impala owns 87 percent of Zimplats.
Impala, which produces about a quarter of global platinum supplies, said this week it will sell 31 percent to the national Indigenization Fund for an independently determined fair value.
Cha kutafakari:
Je sisi Watanzania tuaweza kuweka sheria za kuwainua wazawa na kusimamia utekelezaji wake kama wanavyofanya Zimbabwe?
Je tunao viongozi wenye maono ya kutaka watu wetu wanufaike na rasilimali zetu kama gasi, dhahabu, almasi, tanzanite n.k?
Soma zaidi hapa: Impala
