Zimbabwe to Acquire Zimplats Amid Continuous Appeal Talks

Bloomberg reported that the Zimbabwe government has no intention of stopping its acquisition of 27,498 hectares of Impala’s platinum unit, Zimplats Ltd, even as the biggest platinum producer in the country continues to discuss its appeal.

As quoted in the news:

The southern African nation’s government on March 1 gave Zimplats 30 days to appeal a decree that the country would seize 27,498 hectares (67,949 acres) of the company’s land. In the April 26 edition of the gazette, published today, the government said the nation “intends to acquire compulsorily” part of the land held by Zimplats, which is 87 percent owned by Impala Platinum Holdings Ltd. (IMP), the world’s biggest producer of the metal after Anglo American Platinum Ltd. (AMS).

Click here to read the full Bloomberg report.