Impala Platinum Holdings Limited (IMP.JO) Friday said the Zimbabwean Minister of Youth Development, Indigenisation and Empowerment rejected a portion of the Indigenisation Implementation Plan, or IIP, relating to the empowerment credits for the Release of Ground agreement entered into in 2006.

MAIN FACTS:

-Unit Zimbabwe Platinum Mines (Private) Limited submitted a revised Indigenisation Implementation Plan in November 2011 to the Government of Zimbabwe.

-Concerned to note the statement by the Minister that unless progress is made within 14 days to transfer the required shareholding to the National Indigenisation and Economic Empowerment Fund, enforcement mechanisms will be activated.

-Minister also indicated that suitable compensation for the released ground would be considered.

-Negotiations with the Minister will be undertaken in an attempt to reach a mutually acceptable solution.

-Shares of Impala Platinum at 1506 GMT flat at GBP17.6.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com

Impala Platinum (QX) (USOTC:IMPUY)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Impala Platinum (QX) Charts.
Impala Platinum (QX) (USOTC:IMPUY)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Impala Platinum (QX) Charts.