Zimbabwe to set up fund to own mines

Zimbabwe is to set up a sovereign fund to own 51 percent of mining companies Minister of Youth and Indigenisation Saviour Kasukuwere said today. “In the mining sector specifically, we have been getting a raw deal all this time with companies taking money out of the country,” Kasukuwere said.  Mineral exports reached $1.7 billion in 2010 but mining companies only paid $4 million in taxes to the government, he said.

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