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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Zimbabwe plans mining sovereign wealth fund, Kasukuwere says

Posted on 15 September 2011

Saviour KasukuwereZimbabwe, which is compelling foreign-owned companies to cede control of their businesses to black citizens of the country, plans to establish a sovereign wealth fund that will hold stakes in mining companies.
The country wants foreign companies including Rio Tinto Plc and Impala Platinum Holdings Ltd. to sell 51 percent stakes in their mines. Zimbabwe has the world’s second-biggest platinum and chrome reserves as well as deposits of gold, iron ore, coal, diamonds and nickel……………………………………….Full Article: Source


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