HomeNewsZimplats remains committed to indigenisation

Zimplats remains committed to indigenisation

Johannesburg, South Africa — 10 December 2012 – Zimbabwean platinum miner Zimplats has reiterated its commitment to being a good corporate citizen and to working with the government of Zimbabwe to implement an indigenisation plan that meets the government’s objectives.

In response to a misleading media report in Zimbabwean weekly ‘The Sunday Mail’, a spokesperson for Impala Platinum (Implats) said: “Zimplats, and its major shareholder Implats remain deeply committed to Zimbabwe, its workers and the community, and are actively engaging with the government over the terms on which the indigenisation programme will be implemented.

In mid-November the Implats board decided to accelerate its indigenisation efforts and an amended proposal was submitted to the National Indigenisation and Economic
Empowerment Fund (NIEEF).

In this amended proposal, Implats offered to provide financing for all proposed indigenisation transactions with staff, the community and the NIEEF.

The NIEEF has responded to the revised proposal and a meeting is scheduled for this week to constructively continue the discussions.

 “It is therefore very unfortunate that recent media reports inaccurately claim that a set of internal discussion papers, which explore various possible responses to indigenisation, were actually the minutes of an Implats board decision. This is untrue and completely misleading,” an Implats statement said.

“We are hopeful that this week’s meeting with the NIEEF will result in a speedy and satisfactory conclusion to this complex process,” it added.

Source: Impala Platinum. For more information, click here.