Aquarius to hold talks over Zimbabwe indigenisation
By BFN News | 08:45 AM | Friday 24 February, 2012
Aquarius Platinum is to hold talks with the Zimbabwe government over the indigenisation implementation plan for the company's subsidiary, Mimosa.
Aquarius says Mimosa has been advised by the Zimbabwean minister of youth development, indigenisation and empowerment that a portion of its IIP has been rejected.
Aquarius is concerned to note the statement by the minister that unless an agreement is reached with the National Indigenisation and Economic Empowerment Fund to transfer the required shareholding to NIEEF within 30 days, 'enforcement mechanisms will be activated'.
Aquarius says negotiations with the minister will be undertaken in an attempt to reach a mutually acceptable solution.
At 8:45am: (LON:AQP) Aquarius Platinum share price was -12.7p at 133.4p
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