If we are serious about growing the economy and creating jobs, we need to support these young people – even though they don't seem to expect any help or handouts, writes Melanie Verwoerd.
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Zimplats, the Zimbabwean unit of Impala Platinum, has agreed to release land measuring 23 903 hectares to the Zimbabwean government, ending a protracted wrangle that lasted five years.
Zimplats says redevelopment of its Bimha mine remains on schedule to reach full production by April 2018.
Zimplats, Impala Platinum’s unit in Zimbabwe, has announced that revenue for the quarter to end-June 2017 increased by 9% to $143.59m as it forges ahead with mine development.
Zimplats Holdings says its operating subsidiary, the Zimbabwe Platinum Mines, has sold a 10% equity stake valued at $95m to its employees.
The Zimbabwean government has paid off its protracted debt to Zimplats through the issuance of treasury bills with a total nominal value of $34m.
The storm could be over for Impala Platinum’s unit in Zimbabwe as Zimplats reports a massive swing back to profit following a $74.3m loss in 2015.
Zimbabwe’s central bank has been pressured to investigate illegal dealings by Zimbabwean businessmen and executives named in the Panama Papers.
Low platinum prices and a loss for the six months end-December 31 have forced Impala Platinum-owned Zimplats to cut capital expenditure by 54%.
Zimplats says it is going ahead with its Zimbabwe based projects despite continued threats on a portion of its mining lease area.
Impala Platinum's Zimbabwean unit Zimplats has announced a 29% and 56% revenue and pre-tax profit fall for its full year, and is now focusing on mineral beneficiation.
Impala Platinum has said Zimbabwe’s plan to compel mining companies to list the on the local exchange isn’t feasible, and would impede operators’ ability to grow and invest in their assets.
Impala Platinum says the Zimbabwean government's requirement to invest in smelting and refining capacity for its 50%-owned Mimosa mine is not affordable.
Zimbabwean mining executives and government officials are having their third annual meeting in Victoria Falls as the industry battles a plethora of operational constraints.
Impala Platinum’s Zimbabwe unit has two weeks to launch an objection to President Robert Mugabe’s intentions to take over about 28 000 hectares of land claims.
Impala Platinum's board has approved a new mine in Zimbabwe, despite facing uncertainty and threats from the government’s land grab bid and higher power tariffs.
Zimbabwe has applied for a court order to force an Impala Platinum unit to sell 28 000 hectares of its mining lease to the state, land it says will benefit the economy.
Impala Platinum has been sucked into the Panama Papers debacle after leaked documents showed its Zimbabwe unit used an offshore firm to pay workers’ salaries.
Zimbabwe says it repaid Impala Platinum’s unit in the country about $100m in overpaid royalties, dragging down earnings from the mineral royalties segment by 110%.
Impala Platinum’s unit in Zimbabwe has swung back into profit making, although the outlook for commodity prices remains weak, after it ramped up profits.
Impala Platinum's Zimbabwe-based unit Zimplats has reported a 41% revenue drop for the quarter ended June 30 on depressed international prices.
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