Zimbabwe Government now controls foreign mines
Toronto Telegraph Sunday 8th April, 2012
A number of foreign miners in Zimbabwe have been told the government now has majority ownership of their companies.
The Indigenisation Ministry has informed the foreign mining firms they are now under 51% state control.
The edict centres on firms which have not already given a controlling stake to indigenous Zimbabweans.
A number of foreign miners complied with a 2011 order to transfer majority ownership to locals.
It is believed the latest imposition has come from the office of President Mugabe, as his government coalition partner, Prime Minister Morgan Tsvangirai, has always opposed plans to seize control of foreign firms, many of which have operations in Zimbabwe.
Large miners, Rio Tinto and Anglo American, have not commented on the latest development.
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