Update on Zimbabwean Indigenisation Process

12 Dec 2011 15:04

AQUARIUS PLATINUM LIMITEDASX, LSE & JSE12 December 2011

Update on Zimbabwean Indigenisation Process

Aquarius Platinum Limited ("Aquarius" or the "Company") today announces that as part of the continuing negotiations between its indirect 50% subsidiary Mimosa Holdings (Private) Limited ("Mimosa") and the Government of Zimbabwe relating to its compliance with the Zimbabwean Indigenisation Act, Mimosa today signed a Deed of Trust incorporating the Zvishavane Community Share Ownership Trust (the "Trust"). The beneficiaries of the Trust include the communities surrounding the Mimosa mine and the Deed of Trust is expected to form an integral part of the overall Indigenisation Plan being developed between Mimosa and the Government of Zimbabwe.

The Deed of Trust coming into effect and the issuing of equity in Mimosa to the Trust is an indivisible part of a final Indigenisation Plan on which Mimosa and the Government of Zimbabwe remain in discussions. The final terms of the Indigenisation Plan will be announced as soon as this process is concluded.

For further information please contact:

In the United KingdomGavin Mackay+44 7909 547 042In Australia: In South Africa: Willi Boehm Stuart Murray +61 8 9367 5211 +27 (0) 11 656 1140