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Amplats CEO: Zimbabwe must be foreign miner-friendly to boost investment

Anglo American Platinum Ltd. CEO Chris Griffith said Zimbabwe should enact a number of foreign investment-friendly measures in order to boost mining investment in the country, as it undergoes a transformation following the resignation of former President Robert Mugabe, Reuters reported March 1.

According to the report, the chief executive of the Anglo American Plc unit said that a number measures, which include a consistent legal framework, a right to retain a controlling interest in operations and a bigger share in profits, should be in place to appease foreign miners.

The country enacted indigenization laws compelling foreign- and white-owned companies to cede 51% control of assets in the country to the government or black Zimbabweans in 2013.

In February, the country's mines minister Winston Chitando said platinum and diamond miners in Zimbabwe could be exempted from the law, but must show that they have a plan to achieve compliance with the requirement.

Meanwhile, Griffith said the company is considering investing in debottlenecking to optimize its mining operations.