Thursday, November 1, 2012

Zimbabwe: Anglo American Platinum transfers 51% of mine to local investors

Platinum miners at work at the Unki mine in Zimbabwe. PHOTO/AFP

Anglo American Platinum, the world's largest miner of the metal, has agreed to transfer majority of its Unki mine in Zimbabwe to local Zimbabweans, the firm said on Thursday.

Zimbabwe is implementing a law requiring foreign-owned firms, mostly mines and banks, to surrender majority stakes in their Zimbabwean operations to local black investors.

Anglo American Platinum and the government said in a joint statement the

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