Impala Platinum Holdings subsidiary, Zimplats, has agreed to release to the government land measuring 23 903 hectares within its mining lease area in support of the government’s efforts to enable participation by other investors in the platinum mining industry in Zimbabwe.
The platinum mining giant confirmed through a statement issued this morning on its official website that it had agreed to release the vast tract of land to the government of Zimbabwe.
This latest development puts closure to a court process started in 2016 where the government sought reprieve to enable the firm to sell this land which it said will be critical for economic growth.
According to a statement released by Implats undersigned by its spokesperson Johan Theron, Zimplats has agreed to release to the government land measuring 23 903 hectares within Zimplats’ mining lease area in support of the government’s efforts to enable participation by other investors in the platinum mining industry in Zimbabwe.
Following this release of the ground, Zimplats now holds two separate and non-contiguous pieces of land measuring in aggregate 24 632 hectares.
Consequently, the operating subsidiary applied for and was granted with effect from 31 May 2018, two separate mining leases over the two pieces of land measuring 6 605 hectares and 18 027 hectares, respectively.
The smaller area hosts the historical Hartley mining area and Selous Metallurgical Complex, while the other hosts the Ngezi mining operations, including the future portal 10 mining area.
These mining leases replace the special mining lease held by Zimplats, which was due for renewal in August 2019.
The two mining leases issued to Zimplats’ operating subsidiary are valid for the life of Zimplats’ mining operations and secure the operating subsidiary’s mining tenure.