Platinum Today reported that Impala Platinum Holdings Ltd. (OTC Pink:IMPUY) subsidiary Zimplats Holdings Ltd. (ASX:ZIM) would have preferred being listed on Zimbabwe’s stock market to the indigenization process currently taking place.
As quoted in the market news:
While the platinum miner would have liked to be listed on the Zimbabwe Stock Exchange, chief executive officer Alexander Mhembere conceded that it would be difficult, as the market is open to foreign investors.
Zimbabwe’s indigenisation policy requires all foreign-owned miners operating in the country to give up a 51% equity stake to local black investors.
“But I believe a mechanism could be put in place to allocate the shares to indigenous people,” Mhembere said at an analysts’ briefing.