Zimplats Owes $28 Million in Royalties

Reuters reported Zimbabwe Zimplats (JSE:IMP) to pay $28.3 million in outstanding royalty payments, which the platinum miner is disputing.

As quoted in the market news:

The state-owned Herald newspaper said Zimbabwe Revenue Authority (Zimra) had issued Zimplats bankers with a garnishee order — an order that instructs the bank to pay out of Zimplats’ funds — for the amount on Nov. 16, 2011.

Click here to read the full Reuters report.