Impala’s Hand Forced as Zimbabwe Starts Nationalization
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Impala Platinum Holdings Ltd., the world’s second-largest producer of the metal, is set to lose control over the unit holding 41 percent of its resources as Zimbabwe starts nationalizing foreign-owned assets.
Impala agreed in principle this week, in the face of a government ultimatum, to sell 31 percent of the unit to a state agency and 20 percent to employees and communities. Zimplats Holdings Ltd. holds 134 million ounces of platinum resources, valued at $228 billion at today’s prices.