Indigenisation fears spark share plunge

Shares in Aquarius Platinum Mines took a plunge at the opening of the Johannesburg Stock Exchange and Australian Stock Exchange on Monday amid fears Zimbabwe plans to force companies to sell 51% of local assets to indigenous people.

The share price of Impala Platinum, which has operations in Zimbabwe, fell on the JSE over 5% at one point and was trading 4,30% lower at 189,15 rand at 0831 GMT.

At 9:05am on the JSE, Aquarius’s share price was down R2,45, or 5,98%, at R38,55, after it lost 6,9% on the Australian Stock Exchange.

This story is for NewsDay subscribers.