Zimbabwe Nationalises Diamond Mining

Rough Market
13/03/2015 11:58

Zimbabwe will bring all diamond mining operations in the country under one firm in which the state will have a 50% shareholding, mines minister Walter Chidhakwa announced on Thursday. "We are very clear. This is a regulatory matter and we have said to them the only way you can participate in diamond mining in Zimbabwe is by being in this company," said Chidhakwa. Six companies would be folded into a single entity, including Rio Tinto’s Murowa Diamonds. The miners have until Monday to accept the proposal.