Zimplats

Zimplats Holdings Limited is mentioned on p31 Cartel Power Dynamics in Zimbabwe under the Case Study 5 The Mining Cartels.

The government has twice expropriated mineral deposits from Zimplats Holdings Limited, a company that is majority-owned by the South African platinum producer, Implats. (Zimplats. 2020. 2019 Integrated Annual Report. Zimplats.) The expropriation covered 68 per cent of the deposits that Zimplats initially held – 36 per cent of the resources were expropriated between 2006-09, (Zimplats. 2020. History. Zimplats) and a further 32 per cent in 2018. (Zimplats. 2018. ZIMPLATS HOLDINGS LIMITED (ARBN 083 463 058) (CODE ZIM) Mineral Resources And Ore Reserves Statement And JORC Code, 2012 Edition) These resources were then licensed, respectively, to 1) Great Dyke Investments (GDI), (Njini, F., A. Sguazzin, and L. Prinsloo. Army Puts Backers Off Multibillion-Dollar Zimbabwe Platinum Mine. 15 May 2019.) a joint venture between Afromet JSC, a subsidiary of the Russian company Vi Holding, (Financial Gazette. Tagwirei swoops on army mine. Financial Gazette, 30 October 2019) and Pen East Mining Company (Zhangazha, W. Arms deal behind platinum project. The Independent, 19 September 2014) (a company owned by ZMDC and the military (The long-time Board chairperson of the company was reported to be retired Colonel Tshinga Dube who is a Zanu-PF politburo member, was Chairman of Marange Resources and was a Minister in Mnangagwa’s first Cabinet. See Zhangazha, W. Arms deal behind platinum project. 19 September 2014. The Independent)) and to 2) a joint venture between a Government investment vehicle and Karo Resources, owned by Loucas Pouroulis, (Loucas Pouroulis developed the Eland Platinum Mine in South Africa which he then sold to Xstrata and had previously unsuccessfully attempted to develop the Bougai platinum deposit, which was bought from Anglo American Platinum by Government. See Africa Intelligence. Mnangagwa and Pouroulis (Karo) solar powered partnership. 18 September 2018) whose links to President Mnangagwa date back to the second DRC War. (Dzirutwe, M. Karo launches $4.2 billion Zimbabwe project, has several funding options. 24 July 2018)