HomeNewsGovt happy with Unki localisation plan — Kasukuwere

Govt happy with Unki localisation plan — Kasukuwere

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Indigenisation and Empowerment minister Saviour Kasukuwere says the government is happy with the localisation plan submitted by Anglo-American Platinum (Amplats) to shed 51% shareholding in Unki platinum mines.

Amplats last week said it would meet officials from the Zimbabwe government to discuss the indigenisation plan.

In a letter addressed to youths giving progress on the empowerment drive, Kasukuwere said the indigenisation of the mining sector had progressed well.

“It (indigenisation) will transform our people, present and future just like the Arab States that have developed their oil resources,” said Kasukuwere in a letter published in the local media.

“As implementers, the latest plan by Anglo Platinum Unki is reflective of the positive co-operation we are enjoying.

“We are happy with the 51% plan presented by (Juky) Ndhlovu, the Unki chairman.”

Last week Kasukuwere said the government had taken over all foreign mining firms that had failed to comply with the Indigenisation and Empowerment law to dispose 51% shareholding to locals despite Prime Minister Morgan Tsvangirai saying Cabinet had not taken such a decision.

The Indigenisation minister said profits accruing to the 51% now belonged to the government and warned affected firms attempts to defraud the State would lead to prosecution.

“All mining companies that have not complied with this notice should note that 51% of their shareholding is now deemed to be owned by the State and any business transacted in respect of this 51% shall have been transacted on behalf of the government of Zimbabwe with effect from the deadline stipulated in the said General Notice 114 of 2011, which deadline for the avoidance of doubt was September 25 2011,” Kasukuwere said.

“Any profit accruing to this 51% should be regarded as property of the State and any losses incurred will be charged against the companys assets, less the 51% indigenised portion, for any company that transacts without government involvement with effect from September 25 2011.

“Companies are hereby advised that they are now dealing with assets of the State in respect to the 51% indigenised portion and any attempt to defraud the State will result in prosecution.”

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