RSS 2.0 FeedNovember Vol 27, Business , Financial and Property Indaba
Zimbabwe takes over joint mining venture
HARARE, Zimbabwe -- Zimbabwe's government says it is taking over a joint mining venture after allegations its private partners are dealers of blood diamonds.
Goodwills Masirembwa, chairman of the state-owned Zimbabwe Mining Development Corporation, said Saturday all 12 directors of a company called Core Mining have been banned from doing business in Zimbabwe because of accusations they dealt in blood diamonds and were involved in African civil wars.
Core put up $1.5 million last year to enter into a partnership with Masirembwa's corporation. Masirembwa says the company never came up with the rest of a promised $2 billion and never explored or mined in the Chiadzwa diamond fields in eastern Zimbabwe.
Attempts to reach Core directors were not immediately successful.
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