[miningmx.com] — AQUARIUS Platinum said on Monday its indirectly held Zimbabwean subsidiary, Mimosa Holdings, received a letter on Friday 19 August from the Zimbabwe Minister of Youth Development, Indigenisation and Empowerment, advising that the proposed plan for indigenisation submitted by Mimosa in May had been rejected.
Mimosa is required to submit a revised proposal by the end of August.
Aquarius said Mimosa’s senior management remains in discussions with all of the various relevant Zimbabwean authorities in order to ensure that a satisfactory position is arrived at within the timeframes required by the relevant legislation.
Further disclosures to shareholders would be made as information in respect of this process becomes available, it said.
