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Impala Ordered to Cede Shareholding in Mimosa Mine, Mail Says

Feb. 19 (Bloomberg) -- Zimbabwe’s government ordered Impala Platinum Holdings Ltd. to cede its shareholding in the Mimosa Mining Co., state-controlled Sunday Mail reported, citing indigenization minister, Saviour Kasukuwere.

Impala owns 24.5 percent of Mimosa mine, which is controlled by Aquarius Platinum Ltd., the Harare-based newspaper said. Impala also owns Zimbabwe Platinum Ltd., the country’s biggest producer of the metal, the newspaper said.

The government wants Aquarius to own 49 percent of Mimosa mine, with the remaining 51 percent owned by black Zimbabweans, Kasukuwere told the Sunday Mail.

Calls to Kasukuwere and Mimosa mine weren’t answered when Bloomberg News sought comment today.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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