Zimbabwe Plans to Seize Mines While Compensating Banks

Indiginization Minister Saviour Kasukuwere
Indiginization Minister Saviour Kasukuwere said the government does plan to compensate bank owners as it takes control of their companies. Photographer: Jekesai Njikizana/AFP via Getty Images

Aug. 6 (Bloomberg) -- President Robert Mugabe’s government plans to seize control of foreign-owned mines without paying for them as part of a program to accumulate $7 billion of assets following his July 31 election victory, a minister said.

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