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Zimbabwe Apparently Hustled Out of Billions
President of Zimbabwe, Robert Mugabe has announced that the government will take over all diamond mining operations in the country after accusing foreign mining companies of stealing the Zimbabwe’s wealth.
In an interview with state-run ZBC TV, Mugabe claimed that the companies were “swindling” and “smuggling” and also denied that the move would affect relations with China which is a major investor in the sector.
He went on to say, “we have not received much from the diamond industry at all". Mugabe was critical of Zimbabweans and the role which they play in the alleged theft saying that "those expected to be our eyes and ears have not been able to see or hear what was going on.”
In 2014, Zimbabwe established partnerships with seven foreign firms in order to mine diamonds in the rich Marange Fields to give the country an economic lifeline. However, revenues have tumbled and the government has had no choice but to turn to its partners.
Zimbabwe was ranked eighth in the list of the world’s largest diamond exporters and Mugabe complains that the country received $2 billion (£1.4 billion) from an estimated $15 billion (£11 billion) of revenues from the industry.
