Proposed compulsory acquisition of Zimplats mining claims
Implats wishes to advise shareholders that the Government of Zimbabwe has, through a Government Gazette Extraordinary dated 1 March 2013 ("Gazette Extraordinary"), indicated that it intends to compulsorily acquire 27 948 hectares or approximately 50% of mining claims owned by the operating subsidiary of the Group, Zimbabwe Platinum Mines (Private) Limited ("Zimplats"), and that such claims would be used "for the benefit of the public". Zimplats has 30 days from the publication of the Gazette Extraordinary to lodge a written objection with the acquiring authority.
Implats and Zimplats are taking legal advice in order to protect their rights and, in addition, remain in consultation with the relevant Government authorities.
Shareholders will be kept informed of any material developments.
Statement issued by Implats, through the JSE SENS Service, March 5 2013
Click here to sign up to receive our free daily headline email newsletter