Monday, November 19, 2007

Zimbabwe: Mugabe Regime to Grab 25 Percent Stake in Mining Firms


The government on Monday published a draft bill that will give them the power to grab a 25 percent shareholding in mining firms, without paying a cent. This new bill is an addition to the general Indigenisation and Empowerment Bill passed in September this year, which provided for a 51 percent stake in foreign owned firms for locals.

Companies who will bear the brunt of the takeovers include the world's second biggest platinum producer, Impala Platinum (Implats). Anglo Platinum, the world's largest primary producer of platinum is currently developing a mine project near Gweru on the Great Dyke and will also be affected, as will diamond producer Rio Tinto. South Africa's Implats, who are the leading foreign owned firm, insist their structure already conforms to the requirements of the new bill....MORE

More news,
From Agence France-Presse:
Army on alert to prevent British invasion: Zimbabwe

Zimbabwe said Monday it had put its military on high alert against a possible British invasion after the former armed forces chief of its old colonial master revealed London had considered such a move.

"We are aware of plans by Britain to invade our country and assassinate our leaders and we are not going to lie down and take this as just threats," deputy information minister Bright Matonga told AFP.

"We take these threats seriously and our armed forces are always on high alert. We are aware and confident of our capability and we will deal with them swiftly and effectively if they dare invade our territory."...MORE