Mugabe eager to nationalize Zimbabwe’s diamond industry

All countries must nationalize their banks and natural resources; as long as the people are the equal shareholders; in peace

Follow The Money


The Zimbabwe government wants to take over all diamond operations. President Robert Mugabe says the country’s wealth had been looted by the existing miners.

“The state will now own all the diamonds in the country. Companies that have been mining diamonds have robbed us of our wealth. That is why we have now said the state must have a monopoly,” said Mugabe in an interview with the state broadcaster.

A week ago the country’s ministry of mines halted the work of all mining companies. Firms operating in the largest diamond fields of Marange in eastern Zimbabwe were forced to leave due to expired licenses. However, the government has denied seizing the mines.

Earlier this week Mbada Diamonds, largest diamond miner in Marange, sued the government in the High Court and took back control of its mining assets. The Chinese-run diamond company Anjin filed suit against the government ban in…

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