Zimbabwe's President: We will Nationalize the Country's Mines
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28.06.07, 12:43
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Mining
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Zimbabwe's President Robert Mugabe has threatened to nationalize 51% of the country's mines via legislation tabled at the parliament. The aim of the new law is to transfer the mines to local hands in order to compensate the population for years of discrimination.
This week an order stipulating an overall slashing of prices by 50% was issued with the aim of decreasing the country's galloping annual inflation, which currently stands at 4,500%. Mugabe stated that business owners who raise their prices will be arrested. He also warned that the government would catch foreign mining companies wreaking economic sabotage and playing "a dirty game" with the aim of toppling his regime.
President Mugabe made the remarks at the funeral of Brigadier General Paul Armstrong Gunda.
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By: Tali Ayalon-Metser, Rachel Lieberman
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