Impala Platinum Says Threat of Losing License Fading

Impala Platinum, the world's second-largest producer of the precious metal, said on Thursday a Zimbabwe government threat to remove the licence of its unit in the country Zimplats' had fallen away.

The government and Zimplats said on Tuesday they had agreed to produce a revised plan for a law requiring foreign mining firms to turn over a 51 percent stake to local blacks.

Zimbabwe's leaders are seeking to implement a policy of indigenisation that requires industries to be 51-percent black owned.

At times earlier this summer, some high-level officials of the Robert Mugabe government have threatened to pull the licenses of foreign mining companies if they did not submit plans for compliance in a timely fashion.