Impala Forced to Nationalize Zimbabwe Ownership

Bloomberg reported Impala Platinum Holdings Ltd. (JSE:IMP) has folded to Zimbabwe’s request to nationalize 51% of ownership.

As quoted in the market news:

Impala agreed in principle this week, in the face of a government ultimatum, to sell 31 percent of the unit to a state agency and 20 percent to employees and communities. Zimplats Holdings Ltd. (ZIM) holds 134 million ounces of platinum resources, valued at $228 billion at today’s prices.

Click here to read for the full Bloomberg report.