Africa Mining: Zimbabwe sees no radical change for platinum, diamond ownership

Africa Mining: Zimbabwe sees no radical change for platinum, diamond ownership

Zimbabwe does not plan to change its ownership rules for diamonds and platinum, its mining minister said on Monday, denting hopes among some miners the country will open up ownership as it announces mineral frameworks in coming weeks. Advertisements

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Africa Mining: Zimbabwe to let gold, platinum mines retain higher dollar earnings

Africa Mining: Zimbabwe to let gold, platinum mines retain higher dollar earnings

Zimbabwe will allow gold and platinum mining companies to retain up to 55% of their earnings in dollars, government and central bank officials said on Monday, as authorities in the southern African nation move to ensure operators remain viable.

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Africa Mining: Platinum Producers Challenge Zimbabwe’s Local Listing Plan

The government of Zimbabwe has outlined plans to enforce miners to list on the local exchange, but platinum producers oppose the idea as they believe it will stifle their ability to invest and grow.

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Africa Mining: Zimbabwe’s biggest platinum miner says local listing won’t work

Impala Platinum Holdings said Zimbabwe’s plan to compel mining companies to list the majority of their shares on the local exchange isn’t feasible and would impede operators’ ability to grow and invest in their assets.

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Africa Mining: Zimbabwe changes empowerment law limiting majority ownership to diamond and platinum

HARARE – Zimbabwe has changed its empowerment law to limit majority ownership by state entities to only diamond and platinum mines and not the entire mining sector as in previous legislation, according to a government notice. The Indigenisation and Econmic Empowerment Act was designed to increase black Zimbabweans’ share of the economy but were opaque and open to abuse, to the detriment of foreign investor confidence, a situation that new President Emmerson Mnangagwa promised to change.source: Reuters

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Africa Mining: South Africa just hiked black ownership rules, miners getting crushed

Mining companies operating in South Africa, including Anglo American (LON:AAL) and Sibanye Gold (JSE:SGL) (NYSE:SBGL), saw their stock collapse Thursday after the country’s goverment increased the minimum black ownership requirement for local mines and set a 12-month deadline for them to comply with the new rules.

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