Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Zimbabwe Government to Take Control of Mines, Herald Reports

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.

To contact the reporter on this story: Nelson Banya in Harare via Johannesburg at gbell16@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.