Zimbabwe has instructed bankers for Impala Platinum's local unit, Zimplats, to pay $28.3-million in outstanding royalty payments, which the platinum miner is disputing, state media reported yesterday.
The state-owned Herald newspaper said Zimbabwe Revenue Authority had issued Zimplats bankers with a garnishee order - an order that instructs the bank to pay out of Zimplats' funds - for the amount on November 16.
The bank has since remitted $7.2-million (R58-million) to Zimra and the high court ruled that a court application by Zimplats to force the revenue authority to return the money was not urgent, meaning it could take months for the case to be heard.
Zimra argues that Zimplats had continued paying royalties in 2010 at a rate of 2.5% when they had been increased to 5%, the Herald said.
Zimplats officials could not immediately comment on the issue.
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