HARARE Impala Platinum (Implats) chief executive officer David Brown will next month takeover as chairman of the South African mining giants Zimbabwe subsidiary Zimplats Holdings.
Brown, who will be deputised by top lawyer and Harare mayor Muchadeyi Masunda, is replacing Gregory Sebborn who resigned last month. Further to the recent resignation of Gregory Sebborn from the board, the directors of Zimplats Holdings Limited wish to announce…(that) David Brown will be appointed chairman of the board, the firm said last week.
Implats, the worlds second biggest platinum producer, controls 87 percent of the Zimplats Holdings stock. Last year, Brown took a long standing tax dispute with the Reserve Bank of Zimbabwe to President Mugabe after a government sanctioned forensic audit in 2008 alleged tax evasions at Zimplatss two operating subsidiaries in Zimbabwe.
The company has denied impropriety, and the appointment could set the tone for a more robust approach by the mining giant to assert its innocence on the matter. Zimplats is looking to ramp up output to 180 000 ounces per annum from the current 90 000 after making major investments in Zimbabwe even as hundreds of potential investors withheld their capital fearing harsh empowerment laws and a hostile economic environment triggered by violent farm seizure starting 2000.
Post published in: Economy