Zimbabwe Mining Law Boosts Black Ownership

April 7, 2011  |  

(VOA) — Zimbabwe’s new mining regulations are requiring companies to come up with a plan by May 9 to surrender a 51 percent stake in their shares to black Zimbabweans within the next six months.  The shares will be paid for by the value of the minerals underground.

Some Zimbabweans fear that changing the mining laws will decimate the mining industry, much like the collapse in the commercial agriculture industry after President Robert Mugabe began seizing land from more than 4,000 white farmers in 2000.

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