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MDC-T to renegotiate all diamond concession agreements
15 Jul 2012 at 09:01hrs | Views
The Movement for Democratic Change led by Morgan Tsvangirai has stated that it wishes to renegotiate all diamond concessions granted by Zanu-PF to foreign diamond companies, Voice of America news reports.
Minister of State inthe Prime Minister's Office, Jameson Timba, pointed to the largest diamond miner in the country, Chinese-owned Anjin Investments, and said that the country was earning billions of dollars less than it could and should.
Timba noted that Anjin owns a full 90% stake of the mining properties it shares with the Zimbabwe Mining Development Corporation.
According to Timba, the reason that Anjin was permitted to own such a large stake in the operations was to pay the country back for a $500 million debt to China, incurred when Zimbabwe's government purchased weapons from them.
Timba asserted that all diamond concessions, especially those affecting the Marange region, will be renegotiated if and when his party wins new national elections.
Minister of State inthe Prime Minister's Office, Jameson Timba, pointed to the largest diamond miner in the country, Chinese-owned Anjin Investments, and said that the country was earning billions of dollars less than it could and should.
According to Timba, the reason that Anjin was permitted to own such a large stake in the operations was to pay the country back for a $500 million debt to China, incurred when Zimbabwe's government purchased weapons from them.
Timba asserted that all diamond concessions, especially those affecting the Marange region, will be renegotiated if and when his party wins new national elections.
Source - VOA
