ARM, owned by mining magnet Patrice Motsepe, has in the last few months announced that it is engaged in talks with Zimbabwean government over possible investment opportunities.
“Our understanding of the proposed indigenisation is that it will not only involve direct ownership into the foreign-owned companies but will involve different elements of empowerment for local people,” the company said in its update to shareholders.
The company noted that talks regarding possible projects in the country were already underway. ARM is believed to be eyeing the country’s coal reserves among other types of minerals.
Post published in: Economy