It's changed, these should be passed in Zimbabwean Parliament by now.
Dec8 2017
The measures in the 2018 Budget(must be passed by Parliament) include the partial repeal of a controversial indigenisation law passed under former president Robert Mugabe that had limited foreign ownership of local businesses to 49 percent. The indigenisation law, which was blamed for scaring away investors as it required foreign companies to hand up to 51 percent shareholdings to local partners, will still apply to overseas diamond and platinum miners.
These former indigenisation rules meant that a group corporate structure had to be in place in order to effect these rules. For PSC, I don't know what changes in the corporate structure(if any) have taken place since the changes to indigenisation rules.
Announcement for Sinomine around Nov 17 says that PSC owns 70% of Examix and Examix owns 100% of Arcadia so, I suspect changes have been made and that PSC(and Sinomine) can own more than 51% of any operating company.
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