Sunday, April 02, 2006


Harare - Zimbabwe president Robert Mugabe says a recent furore, sparked by proposed changes to legislation that could give the government a majority stake in mining companies, is "needless"......

Mugabe said: "There must be recognition that our minerals are a depleting and a non-renewable resource which we have allowed in the past to be wholly owned and exploited by foreign-owned companies.

"This will not be allowed in the future.".....

The amendments would give the government and local companies a 51 percent stake in all mining concerns.

International critics say this would provoke a crisis in a mining industry dominated by foreign players and the policy could spell disaster for the economy.

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