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This R&D provides resources on Zimbabwe’s nationalization of its diamond mines. President Robert Mugabe announced last week that diamond smuggling was costing his nation $13 billion per year and that a new state-owned company needs to seize the minds to prevent this. Although nationalization could enhance the size of the nation’s available wealth, it could also dampen the prospects of future foreign investment in the Zimbabwean economy. Private firms that work the mines, including one Chinese company, have vowed to fight Mugabe’s decision in court.
Diamond smuggling “may have cost Zimbabwe’s economy $13 billion” https://t.co/WeGg4co0nE pic.twitter.com/nTcMGVoYRK
— Bloomberg Business (@business) March 6, 2016
Zimbabwe’s President Mugabe says diamond miners have “robbed… our wealth”, Reuters reports https://t.co/ZLAdHv2chF pic.twitter.com/qH0yIkfFur
— BBC Africa (@BBCAfrica) March 4, 2016
Zimbabwe court orders return of firm to diamond fields, defying Mugabe https://t.co/8VMVWKZJ1Y
— Reuters World (@ReutersWorld) March 4, 2016