Zimbabwe Takes Full Control of Controversial State Miner
- Kuvimba CEO says sovereign wealth fund takes total control
- Kuvimba assets once owned by sanctioned adviser to president
A worker on the grinding mill installed at at a mine in Goromonzi, Zimbabwe.
Photographer: Tafadzwa Ufumeli/Getty ImagesThis article is for subscribers only.
Zimbabwe’s state sovereign wealth fund has now acquired all of state mining company Kuvimba Mining House Ltd., in a bid to end speculation about its ownership.
Kuvimba holds some of Zimbabwe’s best mining assets, which were once owned by a company controlled by US- and UK-sanctioned tycoon Kudakwashe Tagwirei, an adviser to Zimbabwe’s President Emmerson Mnangagwa. The government has never given details of how they came to fall under its control other than to say they were acquired for an undisclosed amount.