Toronto and London-listed Caledonia Mining is hoping to reach a mutually agreeable indigenisation implementation plan for its Blanket Mine, in Zimbabwe.
The gold miner said, Tuesday it remained committed to the ongoing indigenisation negotiations with the Zimbabwe government, despite previous reports stating otherwise.
Caledonia CEO Stefan Hayden said in a statement the miner had timeously responded to requests from the Zimbabwe government for further information in respect of the revised indigenisation plan, which was submitted in October, following rejection in August of the company’s initial plan.
The plan would take into account the independently verified intrinsic value of mineral resources, plant and equipment at the mine.
Hayden also refuted allegations he had “scoffed at” the empowerment drive, branded indigenisation as a “political gimmick”, or that Caledonia had in any way refused to comply with the indigenisation laws or caused delays in negotiations.
Zimbabwe’s indigenisation law requires companies operating in the country to be at least 51%-owned by indigenous, or black Zimbabweans.
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On Monday this week Youth Development Indigenisation, Economic Empowerment minister, Savior Kasukuwere said Caledonia Mine had stated the indigenisation process was a gimmick.
“They said the process we are doing is a gimmick. It is a reality. If you engage the government (you cannot) say it’s a gimmick.
By this statement they have made, we are saying give us the price and what the mine is worth,” Kasukuwere said.
He indicated that Caledonia will be engaging with his ministry officials this week.