"We only read it in the newspapers," said Chief Executive Alex Mhembere Mhembere last week.
"We are, however, continuing to work very closely with government on all issues including the indigenisation one."
Kasukuwere boasted in the state-controlled media that all the 173 plans sent to his ministry had been "rejected" because they did not met the required "levels and standards required by government".
Under the new Indigenisation Act Zimbabweans are required to own at least 51 percent of all companies operating in the country with a US$1 turnover with immediate effect.
Mhembere said Zimplats Holdings Limited had done very well for the quarter ending June 30, 2011 – despite the fact that Zimbabwe's once vibrant mining industry has been crippled by lack of investment.
The firm’s contributions to the national fiscus were up by 32 percent to $13,2 million, while metal production had gone up 24 percent.
Operating profit went up by 6 percent at Zimplats, and the company could soon list on the Zimbabwe Stock Exchange (ZSE) because it has confidence in Zimbabwe.
Platinum production at the mine went up to 51 570 tonnes by June 30, from 41 526 tonnes mined in December, last year.
Palladium was up to 41 564 tonnes from 33 802 tonnes, a 23 percent increase, while gold production shot up by 24 percent from 4 818 tonnes to 5 957 tonnes.
Mhembere said rhodium production had gone up by 24 percent from 3 861 tonnes to 4 784 tonnes, iridium also up by 26 percent from 1 544 tonnes to 1 953 tonnes, and silver up by 22 percent from 7 597 tonnes to 9 335 tonnes during this period.
Nickel production had increased by 23 percent from 810 tonnes to 998 tonnes, copper up by 24 percent from 593 tonnes to 735 tonnes, while cobalt had increased by 35 percent from 11 tonnes to 15 tonnes during the quarter ended June 30, 2011.
He said the company had done a lot for the community including its new project to build a school in the Ngezi/Selous area.
The local mining industry has said the new Indigenisation Act slapped on them by government "is grossly unfair and stifling major investment".
They have also said the Act is chasing away potential investment at a time when the country seriously needs massive cash injection.
Post published in: Business Analysis