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The Government and Zimplats had previously signed a Release of Ground Agreement in 2006 through which the firm ceded claims worth $150 million that were not covered under its long-term expansion programme.
Zimplats had insisted in its indigenisation negotiations that the Government should recognise and consider the agreement as part of empowerment credits.
The agreement could, however, not be considered as empowerment credits were not provided for in the Indigenisation Act, which was passed by Parliament in 2008.
Mines and Mining Development Minister Dr Obert Mpofu told the Parliamentary Portfolio Committee on Mines and Energy that they had since started negotiating with the platinum mining firm.
“We have given notice to Zimplats to release land because they are holding on to a lot of it,” he said.
“They are holding on to land that can be mined for up to 300 years, they have not given serious resistance to the notice. They want to talk.”
Dr Mpofu said it was not in the best interests of the country to have one player holding on to vast tracts of land when other players could come in and exploit it.
“We have said we cannot wait for 300 years and have one player utilising that land.”
Before its parent company finally agreed to transfer 51 percent shares to locals, Zimplats was owned 87 percent by Implats of South Africa.
Zimplats has agreed to transfer 10 percent to the local community trust, 10 percent to workers and the balance to the National Indigenisation and Economic Empowerment Fund to achieve 51 percent local shareholding.
It is Zimbabwe’s biggest platinum miner having produced 90 557 ounces of platinum in the period January to March 2012. It is also in the midst of a US$460 million expansion of its Ngezi operations to jolt output to 270 000 ounces by 2014. — New Ziana.
Online Reporter