Thursday, March 28, 2013

(STICKY) (NEWZIMBABWE) Zimplats appeals land repossession

COMMENT - ZIMPLATS is robbing the Zimbabwean people blind. No country with Zimbabwe's resources needs a cent in 'donor aid', which is a scam. Pay the people of Zimbabwe the value of their natural resources, and you can keep all 'donor aid', which is 1/4 trillion to Africa a year, but Africa loses 1 trillion a year in raw materials - like platinum, diamonds,gold, oil... Let's get to the root of the problem.

Zimplats appeals land repossession
28/03/2013 00:00:00
by Staff Reporter

PLATINUM miner, Zimplats, has lodged an appeal against the government's proposed compulsory acquisition of about 50 percent of its mineral resource which was confirmed by Mines Minister Obert Mpofu last month.

In a statement Thursday Zimplats chief executive, Alex Mhembere, said: “Further to the announcement regarding the proposed compulsory acquisition of land, Zimplats confirms that (it) lodged an objection on 27 March to the preliminary notice … with regard to the President’s intention to acquire compulsorily 27,948 hectares of land held by Zimplats”,

Zimplats – listed in Australia and majority-owned by South Africa-based Impala Platinum (Implats) - holds a special mining lease over two areas in the country totalling 48,535ha in extent.

But in February Mpofu said the government had "repossessed" 27,948ha of the land "with immediate effect" without compensation adding the mineral resource would be offered to other investors.

"Zimbabwe has not realised significant value from the platinum sector beyond the traditional statutory payments. We can no longer continue having our minerals refined outside the country," said Mpofu.

"You can only compensate for land that has been bought. The ground belongs to Zimbabwe and there cannot be talks of compensation when the land belongs to you."

The company was given 30 days to appeal the move and management immediately indicated they would challenge the development.

“Implats and Zimplats are taking legal advice in order to protect their rights and, in addition, remain in consultation with the relevant government authorities,” the company said at the time.

The land seizure adds to the uncertainty clouding Zimplats's operations in teh country following allegations of possible irregularities in the company’s indigenisation compliance programme.

Implats signed a conditional, non-binding term sheet for the transfer of 20% of Zimplats to employee and community trusts and 31% to a state-run National Indigenisation and Economic Empowerment Fund.

The deal is expected to see the company comply with laws requiring foreign companies to transfer at least 51 percent of their Zimbabwe operations to locals but sharp differences have emerged in government over the transaction amid allegations of possible irregularities.

Implats, which is implementing a US$450 million expansion programme at Zimplats, however says it is committed to the country despite the uncertainty.

Zimplats is the biggest mining investor in Zimbabwe with management saying the company employs nearly 10,000 people in the Mhondoro-Ngezi area, where its operations are situated.

Zimbabwe's platinum output puts it in third place, behind world leader South Africa, and second-place Russia.

COMMENTS

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Mafira_Kureva

Zimbabwean law allows for the compulsory acquisition of land. When we are done proving that to you at Zimplats, like we did at Chiyadzwa and Marange we will then exchange 51% of your share capital for that land like we should have done in the first place, that's why the good old man said Kasukuwere made a mistake, you do not negotiate with someone when you have nothing to offer or when he or she has nothing to fear. This time they know we can take the land and I know the Russians and the Chinese are all waiting to come and do a processing plant in Zimbabwe as soon as we take this from this Australian firm...better teach them not to put sanctions on people whose wealth they were theiving....and another thing, please put this on fast track and get it through the courts quickly we don't want something going on for over two months because we realise that Zimplats are playing for time thinking Tsvangirayi will win and they will end up giving nothing to the indeginous people of Zimbabwe.....
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keith

people should know that the land in question is the one they where not using if you go that area you wont even believe that the is platinum&gold undergrownd because it is undeveloped after 5hys of them holding on to it now other companies from RSA and and others are going to take it and to make matters worse implats did not BUY THIS LAND THEY ONLY PAID APPLICATION FEE
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Majazi

after moving around the world have found that no foreign company can buy and own land in any country but they get leases, and considering Implats did not buy the land but applied for certification to mine its about time the riches of the soil are enjoyed by the rightful owners.
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Nkoko365

mhembere and your zimplats go hang. who are you to want to hold the country at ransom. stupid cadavers. you should not abuse your welcome but resisting a more equitable opening of mining opportunities to others. you did not buy this land and you are not processing the platinum locally after all. fckn filius nullius
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Changamire Dombo

What ransom? Some people are trying to lift the country from savagery, but Mpofu and his gang are simply trying to loot. With idiots like you Nkoko, Mpofu and Kasukuwere will just become fatter and fatter!!
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keith

let us put politics aside this company has more than has 45k hectures(russian companies produce more than 300% of ouput on less land this guys have) and they are not using 27k hectures for the past 15yrs ever sinve they got it they never used it therefore gvt took it and is going to give it to someone else it was catually long over due this is a law made long before 1996 that mining companies will lose rights they are not using go there today and look yourself not verything is zanu/mdc all people on this forum needs to learn that and critise on facts not just blame mdc or zanu for everything without understanding the situation surrounding the issue at hand
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Majazi

are u out of your mind this company if they where rily interested in investing in Zimbabwe let them build their processing plants in Zimbabwe then, but they can't y coz they are employing their kith and kin in their countries and therefore developing their countries. Its about time we enjoy the fruits of our land
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thuglife

after elections fat Mpofu will never talk about this again.because he is Rick James hes rich

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