20110509
reuters

Angloplat and Implats, the world's top platinum miners, are cooperating with Zimbabwe on proposals to sell majority shares in their local operations to blacks, a government minister said on Monday.

A government notice issued on March 25 by Indigenisation and Economic Empowerment Minister Saviour Kasukuwere gave miners 45 days to provide plans on how they would comply with a law that seeks to give stakes of at least 51 percent to locals.

"Most of the major mines are with us; they are co-operating. What is left is for us to evaluate the substance of their co-operation to see if it meets our expectations," Kasukuwere told Reuters.

Although 45 days have passed, "the closing date is not today, because it is 45 days excluding public holidays and weekends," Kasukuwere said. This calculation would extend the deadline to June 2.

Foreign mining companies then have until September 30 to comply with the law and surrender 51 percent.

Kasukuwere told Reuters last week Zimbabwe's cash-strapped government would not pay any money for the mining stakes but would base any payment negotiations on the state's ownership of the southern African country's untapped mineral wealth.

He said on Monday Kazakh mining group ENRC and Zimbabwe Mining and Smelting Company (Zimasco), which is owned by Sinosteel of China, had also submitted their local ownership proposals.

"The companies are continuing to come in with their plans," he said.