Zimbabwe to Seize Mines While Compensating Banks One of the things that has devastated third world nations is that corporations takes the countries resources sometimes by cheating or buying buying big government officials to gain control of their resources and also many conflicts are created to get those resources from these countries. Paying a fiat currency for a resource also does not work for the resource nation specially if the fit currency sooner or later will fall. I do believe that if corporations were less greedy both can win and every country has the right and obligation to determine what to do with their own resources so I applaud Kasukuwere. "“When it comes to natural resources, Zimbabwe will not pay for her resources,” #Kasukuwere said. “If they don’t want to follow the law that’s their problem.” Non-compliant mine owners risk losing their licenses, he said. " "President Robert Mugabe’s #government plans to seize control of foreign-owned #mines without paying for them as part of a program to accumulate $7 billion of assets following his July 31 election victory, a minister said. The government will compensate #bank owners as it takes control of their companies, Saviour Kasukuwere, the minister in charge of the program to compel foreign companies to cede 51 percent of their assets to black investors or the government, said in an interview in Harare, the capital, today. His comments echo a suggestion made by Mugabe earlier this year. " bloomberg/news/2013-08-06/zimbabwe-to-seize-mines-while-compensating-banks-ministe.html
Posted on: Tue, 06 Aug 2013 14:28:19 +0000
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