Caledonia CEO alleged utterances ruffle feathers

Caledonia chief executive, Mr Stefan Hayden, that the Indigenisation and Economic Empowerment programme is a political gimmick.
Caledonia Mining Corporation is a Canada-based firm that owns one of Zimbabwe’s gold producers, Blanket Mine, in Matabeleland South.
Under the Indigenisation and Economic Empowerment Act, all foreign-owned entities operating in the country with an annual turnover exceeding $500 000 are required to cede 51 percent shares to locals.
The National Indigenisation and Economic Empowerment Board (NIEEB) chairperson Mr David Chapfika told Business Chronicle yesterday that the alleged utterances were pronounced during a meeting his board convened with executive management from the mining concern recently.
“We met with them last week to discuss their implementation of the Indigenisation and Economic Empowerment programme.
“And we have expressed dismay over the alleged utterances by their chief executive officer that the Indigenisation and Economic Empowerment programme is a political gimmick, which they will only comply with towards the elections,” said Mr Chapfika.
President Mugabe has said Zimbabwe is expected to go for general elections in March next year with or without a new constitution because the inclusive Government has failed to work.
Mr Chapfika said NIEEB was only implementing the laws of the country.
“They have since apologised over the alleged utterances and to show their commitment to abide by the laws of the land, I am told their chairman met the Minister (Saviour Kasukuwere) yesterday (Monday). However, I don’t know what they discussed,” he said.
Efforts to get a comment from Minister Kasukuwere were futile as he was said to be in a meeting.
In a statement, the mining concern said: “Caledonia and its chief executive Mr Hayden categorically deny having made any statements to the effect that he and Caledonia are not wholly committed to the rapid implementation of the Indigenisation of the Blanket Mine. Mr Hayden also refutes allegations that he has “scoffed at” the empowerment drive, that he has blended Indigenisation as a political gimmick or that Caledonia has in any way refused to comply with the Indigenisation laws or caused delays in the Indigenisation negotiations.”
Early this year, Government promulgated the Indigenisation and Economic Empowerment programme to economically empower indigenous Zimbabweans.
The programme also seeks to address the economic imbalances that existed in the country as a result of colonialism.
Against this background, the NIEEB has established community share ownership trusts countrywide aimed at ensuring that communities in which mining houses operate also benefit from the 51 percent shares foreign-owned entities are required to cede.