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Mining Weekly reported Zimbabwe will need up to $1 billion to compensate Impala Platinum (JSE:IMP) for the switch to local management.
Mining Weekly reported Zimbabwe will need up to $1 billion to compensate Impala Platinum (JSE:IMP) for the switch to local management.
As quoted in the market news:
Treaty protection under the South Africa-Zimbabwe bilateral agreement commits the Zimbabwe government to paying fair compensation for shares that it is forcing Implats to sell to it.
There is no point in Implats going back to the Zimbabwe negotiating table if South Africa’s errant neighbour is unable to show that it has access to between $500-million to $1-billion in cash to pay for the 31% of Zimplats, analysts have calculated.