Latest News Editor's Choice

News / Press Release

ZANU PF proposes to give away platinum to foreign Capitalists

by ZCP
18 Mar 2019 at 10:06hrs | Views
In 1991, the Zimbabwean economy took its first major dive with the adoption of the IMF/World bank neo-liberal "Economic Structural Adjustment Programme" (ESAP). In Zimbabwe, this process was headed by the "economic expert", Minister of Finance, Bernard Chidzero.

Now his clone, Mthuli Ncube, has presented us with ESAP 2 and in the ultimate act of betrayal, has offered to give our most precious resource, platinum to foreign investors  ― with our diamonds (already in large part under the control of apartheid Israel) to follow.

In an interview with Bloomberg Television in Washington DC, Minister of Finance, Mthuli Ncube is reported to have said:

"We are removing that indigenisation rule, which is discouraging foreign direct investment. We say Zimbabwe is open for business; you can only be open if you allow ownership of 100%."

The spokesperson for Impala Platinum, John Theron, said that they were waiting for a formal announcement regarding the changes, further saying:

"We remain encouraged by ongoing efforts by the government to open the economy to investment and growth."

In a separate statement, Minister of Mines, Winston Chitando said that the new rules might be extended to diamonds.

The Zimbabwe Communist Party has, until now, been fairly moderate in its criticisms of the ZANU(PF) government. Being the first Zimbabwean political party in recent years to call for a National Economic Dialogue, we responded to the call by ZANU(PF) for Dialogue only to be referred to as ‘terrorists' by the ZANU(PF) Secretary for Administration on national television two days after we wrote to him!

Now, we see that, like MDC, ZANU(PF) is going for the most extreme form of neo-liberalism. It is about to surrender the resources which belong to the people of Zimbabwe to greedy foreign capitalist interests with no restraints whatsoever.

If we look at two nearby countries, the Democratic Republic of Congo (DRC) and Botswana we can see the difference in development between a country which has no restraints on foreign investment in mining and one which insists on having an interest in mining activities within its borders.

The DRC, the richest country on the African continent in terms of mineral resources has a population living in abject poverty with little infrastructural development since the Belgians left in 1960. Only China, in the last few years has started to build roads and schools in return for minerals. DRC, with its wars and its poverty is a living example of "Foreign Direct Investment" at work.

Botswana, on our western border, despite having a pro-Western foreign policy and a US base within its borders, has a 51% government share in its mines. Debswana, the main diamond mining company is 51% owned by the Botswana government and 49% owned by De Beers. In addition, the Botswana government bought a 20% interest in De Beers on the open market from its profits. At Independence in 1964, there were only 3 kilometres of tarred road in Botswana; now due to investment in infrastructure, tarred roads cover most of the country as well as improved education and housing. Similarly Botswana Ash (Pty) Ltd (BotAsh), the only extractor of soda ash in Botswana (soda ash is used for glass-making), is a 50/50 partnership between the Government of Botswana and Chlor Alkali Holdings (CAH) Group based in South Africa.

At this stage, the ZCP is not demanding a fully nationalised mining industry; if we can have 50/50 agreements for now, it will be a step forward. Nevertheless, we believe in progressing towards a fully nationalised mining industry. But to allow foreign companies to take our minerals leaving us with only holes in the ground is treason.

Some people will tell us that "nationalisation does not work." This is because they have seen nationalised industries run by the relatives and cronies of politicians who have merely plundered. Professional management is essential. And it does not have to be local. There is a difference between foreign MANAGEMENT and foreign OWNERSHIP. Ownership of mineral resources is the birth-right of Zimbabweans. Management should be professional and based on skill and experience. It may or may not be local in composition. In post revolutionary Soviet Russia, they RETAINED the former managers and even employed some foreign management. But industry was state owned and younger people were taken from the shop floor (not relatives of senior Party members) and trained under the old managers. The Soviet Union during the 1930s experienced the highest industrial growth rates in human history.

The Zimbabwe Communist Party calls on all progressive organisations and individuals and particularly on organised labour to fight this monstrous theft of our national resources through the comprador bourgeoisie led by Mnangagwa and Ncube.

Long Live Zimbabwe !!
Forward with the People !!
The Mineral Wealth of Zimbabwe Belongs to Us !!

Issued by the ZCP Secretariat.

Contact – Ngqabutho Nicholas Mabhena
General Secretary
+27 83 340 1000
Email –
Cde Bongani Mkwananzi
Media liaising officer
+263 71 838 2677
Email –
Cde Ian Beddowes
National Commissar
+27 60 440 3137
Email –

Source - ZCP