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Zimbabwe nationalizes foreign mining firms that failed local equity requirements

Workers are pictured at the Mimosa Mine in Zvishavane, Zimbabwe, in February 2012. (AFP Photo/Jekesai Njikizana)

Zimbabwe said on Thursday it had taken over majority shares from foreign mining firms which had not sold 51 percent of their equity to black Zimbabweans, without specifying which or how many firms were affected. “All mining companies that have not complied, should note that 51 percent of their shareholding…

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