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Impala Platinum Facing Nationalization in Zimbabwe
Mar. 21, 2012 02:47PM PST
Precious Metals InvestingBloomberg reported Impala Platinum’s (JSE:IMP) Zimbabwe unit may face total nationalization if it doesn’t meet the government’s two-week deadline.
Bloomberg reported Impala Platinum’s (JSE:IMP) Zimbabwe unit may face total nationalization if it doesn’t meet the government’s two-week deadline.
As quoted in the market news:
The Herald quoted an interview Zimplats Chairman David Brown gave to South Africa’s Mining Weekly magazine. Brown said the Zimbabwean government would have to pay for a 31 percent stake it is demanding in Zimplats, according to the Herald. Mining Weekly put the value at between $500,000 and $1 million.