Published: 10 June 2013

Government says the decision by Zimplats to lodge an objection on the compulsory acquisition of excess reserves from the firm will not deter the country from ensuring that it exploits the vast platinum resource for the benefit of its citizens.

The comments by government follows the recent announcement by Impala Platinum Holdings Limited's subsidiary, Zimplats, objecting the compulsory repossession of over 27 000 hectares of land held by the platinum group.

Mines and Mining Development Minister Obert Mpofu, who confirmed having received a letter of objection from the firm, said government will not change its position and will go ahead with the repossession of the excess reserves on behalf of millions of Zimbabweans who are the owners of the resource.

"We have received a letter from Zimplats indicating their move to object the repossession of excess reserves from the platinum group. Our position will not change and we are already in the process of ensuring that we engage other investors who can participate in the exploitation of the reserves," said Dr Mpofu.

Dr Mpofu confirmed that there has been much interest in the resource by potential investors who are willing to take part in the exploitation of the repossessed land.

In a General Notice 123 of 2013 published in an extraordinary government gazette, government announced the compulsory acquisition of 27 948 hectares of land held by Zimplats for the benefit of the public.

The excess reserves repossessed by government will be opened to new investors who are willing to exploit platinum in future.
- zbc

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