Zimbabwe’s plan to develop one of the world’s biggest platinum mines stalled after Impala Platinum asked for greater transparency on the ownership of a state-run company before considering a joint venture.
Impala, the third-largest producer of platinum group metals, was approached by Great Dyke Investments which owns the Darwendale project, said two people familiar with the talks who asked not to be identified because they aren’t public. It wants more information about the government’s Kuvimba Mining House, which is 35% owned by private shareholders the state has yet to identify.
Kuvimba and Russian tycoon Vitaliy Machitskiy’s Vi Holding each own 50% of Great Dyke.
While Zimbabwe’s government says it controls Kuvimba, its assets are the same as those that were owned until at least late 2020 by Sotic International Ltd., a company linked to Kudakwashe Tagwirei, an adviser to Zimbabwean President Emmerson Mnangagwa.
Tagwirei was sanctioned in 2020 by the
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