Malaysia's Greatest Student In Africa - Zimbabwea Enforces Indigenization (Bumiputra-lisation) 

On August 20 Zimbabwe gave an ordered that foreign firms had two weeks to hand over 51% of ownership to black citizens of the country.

Since then over 700 companies, including 175 miners, have submitted indigenization and empowerment plans to the government, according to Industrial Info Resources. Typically this involves giving majority shares in an Zimbabwean shell company.

Plans from 15 foreign companies, however, were rejected, the world's second-largest producer of the metal, Impala Platinum Holdings Limited (Implats), among them. Details from Industrial Info Resources:

The Zimplats plan covered an equity ownership of 25%, with a 19.5% credit for indigenization and the 6.5% balance, to make 51%, made up by social infrastructure credits.

Also in the mix is that Impala, which produces 30% of the world's platinum supply, could invest up to $10 billion in a Zimplats expansion, if an equitable agreement can be made. But Brown said that a 51% local equity level was hugely problematic and would result in future growth opportunities in the industry being stalled, along with future investment decisions.

They've got approximately two days to sort it out.

Another major miner may have had better luck. Bloomberg reported yesterday that Rio Tinto had received partial approval for its indigenization plan.