CONTROVERSIAL investor Eurasian Resources Group (ERG) has lost its platinum mining claims in Zimbabwe, after failing to develop them for the past 11 years, The Financial Gazette can reveal.
Senior government officials said the Kazakhstan-based mining firm recently sent two emissaries to try and renegotiate a new deal after the government repossessed the platinum claims at Bokai under the use-it or lose-it policy.
The government recently indicated that it was in the process of repossessing at least 213 mining concessions that are lying idle. ERG bought some platinum concessions in 2009 from a United Kingdom company with links to Billy Rautenbach, CAMEC, but the project was never developed following resistance from certain quarters in government who opposed th
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