Dec. 9 (Bloomberg) -- Zimbabwe’s government will take 100 percent control of alluvial diamond mines and 51 percent of other mines in the country, the state-controlled Herald newspaper reported, citing Indigenisation Minister Saviour Kasukuwere.
The cabinet made a decision that diamonds belonged to the state and must benefit the people of the country, the Harare-based newspaper said, citing Kasukuwere. Government officials will hold talks with South African and Chinese companies working in partnership with the state at the Marange diamond field, the Herald said.
The cabinet decided that 10 percent of gross profit from mining operations should go to local communities, the Herald cited Kasukuwere as saying.
The new law will come into place as soon as it is gazetted, the newspaper said. It didn’t give a timeline for the law.
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