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Fri Jul 01 19:03:30 SAST 2016

Amplats to transfer 51% of Zimbabwe mine to locals

Reuters | 01 November, 2012 15:09
A mine shaft. File photo.
Image by: Jorge Duenes / REUTERS

Anglo American Platinum has agreed to transfer 51% of its Unki mine in Zimbabwe to locals, the firm said on Thursday.

The world’s largest miner of the metal agreed to this following pressure from President Robert Mugabe’s government.

Mugabe is championing a controversial law which requires foreign-owned firms, mostly mines and banks, to surrender majority stakes in their Zimbabwean operations to local blacks.

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