About 700 companies have submitted their indigenization plans to the government, the Herald said. If accepted, the companies have five years in which to dispose of their shares, according to the government -
The companies must submit their plans to Kasukuwere’s ministry showing how within the next five years they will dispose of the majority stakes of their companies.
Zimbabwe Accepts Mining Firm Indigenization Proposals - With Reservations Kasukuwere said the government has accepted the 25 percent equity stakes the companies have offered, though it intends to vigorously pursue the remaining 26 percent on behalf of communities around the mines.
Zimbabwe has the world's largest known platinum reserves after neighboring South Africa. Major foreign miners operating there include Zimplats Holdings, a unit of Impala Platinum, global mining giant Rio Tinto and Anglo Platinum.
The country's mining sector, which has been starved of capital after years of decline, also produces gold, diamonds, ferrochrome, coal and iron ore reserves.
Kasukuwere told VOA Studio Seven reporter Blessing Zulu that the government, though unhappy with the offers has accepted those received to date.
Economic commentator Rejoice Ngwenya said he does not see mining companies being booted out of the country in September even if they fail to meet indigenization targets.
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Tsvangirai marathon Zimbabwe crisis talks -
HARARE (Reuters) - Zimbabwe's President Robert Mugabe and opposition leader Morgan Tsvangirai met for a third day of power-sharing talks on Tuesday amid fears the negotiations could collapse because of differences over which of them will ultimately lead the country....
"I don't think they (the talks) will remain on the rocks, because I think all the parties eventually have no way out of it other than talking to each other."
All eyes may soon be on Mutambara.
The former robotics professor is emerging as a key player, political analysts say. His faction's members in parliament can support either? - Mugabe's ZANU-PF or Tsvangirai's main MDC party, which have almost equal numbers of seats in the lower house.
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