10.03.2011 - Zimbabwe: Mugabe's wealth fund to grab 51pct of mining industry
From Theaustralian.com.au: President Robert Mugabe is about to seize control of Zimbabwe's foreign-owned multi-billion-dollar mining industry. Saviour Kasukuwere, the Indigenisation Minister, said that a sovereign wealth fund would be created that would own 51 per cent of the mines, which account for a third of the country's GDP. The regulations are to take effect at the end of next week. "In the mining sector specifically, we have been getting a raw deal all this time, with companies taking money out of the country," Mr Kasukuwere said..............................................Full Article: Source
Print