"The company on Thursday donated $10 million to the country’s first community share trust (CST)."
Australian listed platinum producer, Zimbabwe Platinum Mines (Zimplats) says claims it ceded to the government in exchange for empowerment credits remained underutilised.
The white metal producer transferred 36% of its claims in 2006 deal.
“In 2006 when the government requested Zimplats to release some of its mining claims to the state so that new indigenous players could join the platinum group sector, the company was happy to release 36 percent of its claims. We note however that there is no production taking place as yet on these claims.” Chairman David Brown said.
The company on Thursday donated $10 million to the country’s first community share trust (CST).
The funds would however be spread over three years as Zimplats would not be declaring dividends while it completes the $460 million Ngezi expansion project.
Zimplats is 87, 3 percent owned by South African Impala Platinum.