Zimbabwe May End Local Ownership Rule on Platinum, Diamonds
- President Mnangagwa has lifted requirement on other metals
- Government plans further studies on platinum and gems
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Zimbabwe, which has the world’s second-biggest platinum reserves, may lift a requirement that companies mining the metal or diamonds must be at least 51 percent owned by black citizens of the country, President Emmerson Mnangagwa said.
Mnangagwa, who became president in November after Robert Mugabe resigned under pressure from the military, has announced that the ownership requirement on all other minerals will be abolished. The government needs to assess its platinum and diamond industries more carefully, he said.